Xi Jinping Confident of Surpassing the U.S. by 2035... GDP to Double

Declaration of Achieving 'Xiaokang' Goal in First Half of Next Year
Taiwan and Hong Kong Adhere to Principles... Firm Response to External Interference

[Asia Economy Beijing=Special Correspondent Jo Young-shin] Chinese President Xi Jinping expressed confidence that China could surpass the United States in economic scale by 2035.

According to China's state-run People's Daily and Xinhua News Agency on the 4th, President Xi attended the Politburo meeting held the previous day and explained the 14th Five-Year Economic Development Plan (14·5 Plan) and the long-term goals for 2035 at the 5th Plenary Session of the 19th Central Committee (5th Plenum).

At the meeting, President Xi stated that China's Gross Domestic Product (GDP) will double in size by 2035 compared to the scale in 2019.

[Image source=Yonhap News]

President Xi emphasized, "Growth that doubles the total or per capita GDP by 2035 is possible," adding, "Considering China's economic development capacity and circumstances, the economy has potential and will maintain stable development in the long term."

He said, "China's per capita GDP will surpass $10,000, and it will grow into the world's largest and most potential consumer market," highlighting the 'dual circulation' strategy, which focuses on technological self-reliance and expanding domestic demand.

2035 is the target year by which President Xi aims to basically realize 'socialist modernization.'

President Xi also stated, "After an internal evaluation in the first half of next year, we will declare the achievement of building a 'Xiaokang (a moderately prosperous society where all people enjoy a comfortable and affluent life).'"

He added that this year, GDP will exceed 100 trillion yuan, and 55.75 million rural poor people have escaped poverty. He further noted, "We have built the world's largest social security system; basic medical insurance covers over 1.3 billion people, and basic pension insurance has reached 1 billion participants."

President Xi and the Chinese Communist Party had previously set the goal of creating a 'comprehensive Xiaokang society' by 2021, the 100th anniversary of the Party's founding.

President Xi said, "The world is currently undergoing great changes not seen in a century," and stressed, "We must strengthen national comprehensive capabilities, effectively safeguard national security, and achieve high-quality development in the economy, society, culture, and other fields."

President Xi also stated the fundamental position on 'One China.'

Regarding Hong Kong and Macau, he said that the principles of 'One Country, Two Systems,' 'Hong Kong people governing Hong Kong,' 'Macau people governing Macau,' and high degree of autonomy will be thoroughly maintained.

Regarding Taiwan, he indicated that there is absolutely no intention to retreat from the goal of promoting national reunification.

President Xi said he will maintain the One China principle and the '1992 Consensus' (an agreement to recognize One China while allowing each side to use its own name).

He stated, "We will improve systems and policies that guarantee the welfare of Taiwan compatriots and equal treatment on the mainland, and further strengthen exchanges among youth on both sides of the Taiwan Strait."

However, he warned of high vigilance against separatist activities advocating 'Taiwan independence' and said external interference in Hong Kong will be thoroughly suppressed.

This content was produced with the assistance of AI translation services.