China News Service, Beijing, March 17 (Reporter Chen Su) "By 2025, China's per capita GDP (gross domestic product) may reach more than 13,000 US dollars, and China will cross the'middle income trap' by then." China Policy Science Xu Hongcai, deputy director of the Economic Policy Committee of the Research Society, said to the public on the 17th.

　　At the 144th news café of the China Journalists Association held that day, Xu Hongcai gave an outlook on China's economic development during the "14th Five-Year Plan" period (2021-2025).

He said that in the next five years or even longer, China's economy has great growth potential, and per capita GDP will continue to rise, and it will pass the threshold of a "high-income country" by 2025.

　　"China’s official target for GDP growth in 2021 is 6% or more, but the market generally predicts that China’s GDP growth rate will reach 8% or more this year, around 6% in 2022, and there will be a growth rate of more than 5% by 2025. "Xu Hongcai said that China's economy still has a lot of growth potential in the future.

　　He said that the current urbanization rate in China is more than 60%, and there is still a big gap with developed countries, and there is still much room for improvement in the level of urbanization.

"The'second half' of China's urbanization will bring about the'second half' of real estate. With the process of urbanization, hundreds of millions of farmers will become new types of citizens in the future, which will greatly stimulate consumption and investment. The huge potential of urbanization has laid the overall tone for the continued advancement of the Chinese economy."

　　Xu Hongcai pointed out that in addition to the process of urbanization, China has turned to high-quality development and plans to basically realize modernization by 2035, focusing more on higher-level improvements such as social governance, green development, regional coordination, and supply-side structural reforms.

At the same time, China's "14th Five-Year Plan" puts forward higher goals for technological innovation. It is determined that in the next five years, R&D expenditures for the whole society will increase by more than 7% annually, and vigorously promote the development of digital economy and innovation economy.

　　In 2019, China's per capita GDP has exceeded 10,000 U.S. dollars, which is less than 3,000 U.S. dollars based on the current World Bank's high-income standards.

　　Xu Hongcai said that as long as China's GDP maintains an annual growth rate of more than 5% in the next five years, by 2025, the per capita GDP will reach more than 13,000 US dollars, and China will cross the "middle income trap."

　　"It should be noted that although China is about to cross the'middle-income trap', there is still a big gap between China’s per capita GDP and developed countries. For example, South Korea’s current per capita GDP is 30,000 US dollars, the United States’s 65,000 US dollars and China still The monthly income of 600 million people is less than 1,000 yuan." Xu Hongcai said that China still has a long way to go in promoting rural revitalization, promoting common prosperity, and expanding middle-income groups. (Finish)