China’s gross domestic product will hit 100 trillion yuan ($16 trillion) by 2020, close to the size of the United States economy in 2012, said Yang Weimin, vice head of the Office of the Central Leading Group on Finance and Economic Affair.
In 2020, China’s GDP per capita will likely exceed $10,000, nearly double the amount in 2011.
Over the next few years, faster development in the country’s central and western regions also meant incomes would rise faster for residents of those regions than in the more developed eastern parts of China, Yang said.
China’s gross domestic product in 2011 was 47.2 trillion yuan