Expert Chaslau Koniukh
  • Companies
  • Global investment
  • Investors
  • Terminology
  • Economy
  • Stock Market
  • World exchanges
  • Tech and Marketing
Chinese economic development
Economy

Chinese economic development: forecast for 10 years

17.05.2021
2 min read

Key points of the Chinese economy development in the next 10 years

UBS Investment Bank analyzed the development of the Chinese economy, and based on the data obtained, made a 10-year forecast. According to experts, during this time the country’s GDP should grow twice as much as domestic consumption. In this case, the economy will be affected by adverse global factors, but not significantly. First of all, growth rates in China depend on domestic consumption.
Over the last 10 years China has been actively working to reduce dependence of the local economy on exports. The activities carried out have yielded results, and after the pandemic, the local market has started to increase its turnover in order to achieve its earlier goals. As a result, the economy grew by 5.5% in the second half of 2020. According to experts’ forecasts, this year the development rate may overcome the 7.6% mark. This indicator is the maximum for the country and was observed in 2013. However, after the dynamics will begin to decline. On average, within 10 years the GDP growth will make about 4.5% annually. And even with this decline, China will show better rates than other leading economies. China will remain one of the main drivers of global economic growth, taking a share of about 30%.

Chinese economic development

According to forecasts, by 2030 the country will be able to double its current GDP indicators. In 2019, the Chinese economy exceeded the amount of 14 trillion dollars. By 2030, the WFP should reach the threshold of 26-28 trillion dollars. And the key factor of growth will be domestic consumption, for which the government has high hopes. Due to the reorientation of the market it was possible to increase local demand, which contributed to an increase in activity on the part of the Chinese population and the development of the service sector. As a result, domestic consumption increased from $2.6 trillion in 2009 to $8 trillion in 2019. It is predicted that this figure will amount to $17 trillion in the next decade.
In turn, the increased demand in the domestic market will reduce the number of poor people and increase the share of the middle class. Now in China, about 600 million people have an income of only 1650 dollars a year. If in 2009 the number of families that earn about 15 thousand a year was 130 million people, in 2019 they were 620 million. It is assumed that in 2030 this figure will be 900 million. Those Chinese, who have an income of more than 30 thousand per year per family, in 2030 will be 680 million people against 280 million that is now.

Tags: Global Economy
0
Previous Post Who's Ira Rennert: a billionaire's business area Next Post American financial corporations entering Chinese market

You Might Also Like

airline bankruptcy 2019
Economy
Airline bankruptcy 2019-2020: what to expect further from the segment
15.08.2020
new gas field
Economy
A new gas field has been discovered near Turkey: details
22.05.2021
Google Alphabet
Economy
New Google Alphabet features for advertisers and users
26.06.2020
U.S. budget deficit to reach record highs
Economy
The U.S. budget deficit: a forecast from the Congressional Budget Office
03.11.2021
Japan's economy
Economy
Japan’s economy showed a slowdown in recovery
02.01.2022
economic disaster
Economy
Economic disaster in France: consequences of the pandemic
02.05.2021

Recent Posts

  • 1Erik Penser
    Erik Penser: the ups and downs of the Swedish businessman
    30.03.2023
  • 2Royal Dutch Shell logo
    Royal Dutch Shell: the history of the British-Dutch company
    29.03.2023
  • 3discount window features
    Discount window: peculiarities of lending from the Federal Reserve System
    28.03.2023
  • 4LG Energy Solution
    LG Energy Solution invests in battery production expansion
    27.03.2023
  • 5troubled crypto exchanges-2
    SEC to closely monitor troubled crypto exchanges
    26.03.2023

Popular Posts

  • Field of activity of the American Monsanto Company Corporation
  • Skolkovo analysts: the Russian energy market is suffering losses
  • Businessman Chuck Feeney: the man who gave the world Duty Free
  • Why the Federal Reserve System (FRS) refused to raise interest rates

Social media

Editor's Picks

Chaslau Koniukh
Analytics

American bankers from JPMorgan and Goldman Sachs advise to invest in gold: review by Chaslau Koniukh.

Spokesperson
17.08.2020
Expert Chaslau Koniukh
Analytics

Chaslau Koniukh on the analysts’ opinion on the key stake size change soon

Spokesperson
18.06.2020
expert Chaslau Koniukh
Analytics

Chaslau Koniukh: Internet trade market in Russia may reach 2.78 trillion rubles.

Spokesperson
30.05.2020
Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh
Analytics

Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh

Spokesperson
16.05.2020

Latest Posts

Erik Penser
Erik Penser: the ups and downs of the Swedish businessman
30.03.2023
Royal Dutch Shell logo
Royal Dutch Shell: the history of the British-Dutch company
29.03.2023
discount window features
Discount window: peculiarities of lending from the Federal Reserve System
28.03.2023

Chaslau Koniukh

Expert Chaslau Koniukh

Chaslau Koniukh – an expert in marketing and project management, IT consulting, international investments, investor, financial analyst. A commodity trader, private consultant, entrepreneur, lecturer, author of several articles on the stock market.

Popular Posts

  • Field of activity of the American Monsanto Company Corporation
  • Skolkovo analysts: the Russian energy market is suffering losses
  • Businessman Chuck Feeney: the man who gave the world Duty Free
  • Why the Federal Reserve System (FRS) refused to raise interest rates
  • The success story of the company with the most expensive shares – Berkshire Hathaway Inc
Expert Chaslau Koniukh
  • Facebook
  • Twitter
  • Instagram
  • Biography

Chaslau Koniukh – an expert in marketing and project management, international investments, financial analyst.

Social media

Menu

  • Biography
  • Companies and corporations
  • Global investment
  • Investors and Entrepreneurs
  • Economy
  • Market terminology
  • Stock Market
  • World exchanges
  • Tech and Marketing
  • Analytics