China’s new goal is long term growth: Party official

China aims to double GDP and per capita income by 2020 from 2010 levels, and growth is on track to hit those goals. In the opening speech of a key twice-a-decade Communist Party Congress this week, President Xi Jinping said China would deepen economic and financial reforms and further open its markets to foreign investors as it looks to move from high-speed to high-quality growth.

Xi set bold long-term goals for China’s development, envisioning it as a “basically” modernised socialist country by 2035, and a modern socialist “strong power” with leading influence on the world stage by 2050.