China poised to become world’s largest economy by 2035; forecast global experts

China poised to become world’s largest economy by 2035; forecast global experts

A report, titled ‘Decisive Battle: The Progress of China’s Comprehensively Deepening Reform and High-Standard Opening Up in the New Era and Prospects for 2029 and 2035’ was released at an international seminar held at Renmin University of China where experts and scholars from home and abroad gathered to envision the country’s trajectory towards 2029 and 2035.

According to the report, “By 2035, China is poised to become the world’s largest economy, with its scientific research and manufacturing capabilities reaching world-class levels across most industries.” It outlined seven key transformations expected in China by 2029 and 2035, with most striking changes taking place in fields of economy, life standard, environment, and national security.

It said economically, by 2029, strategic emerging industries will constitute over 20% of China’s Gross Domestic Product (GDP), with more than 40% of fortune 500 companies coming from China.