Chinese economy to exceed $23.8 trillion by 2030, Li says

Premier Li Qiang said yesterday that China's economy will exceed 170 trillion yuan ($23.87 trillion) by 2030, presenting a big market opportunity for the world as trade restrictions rise globally.

- BRENDA GOH

In his speech at the opening ceremony of the China International Import Expo (CIIE) in Shanghai, Mr Li criticised tariffs and said that China wanted to reform the global economic trading system to make it more reasonable and transparent, especially for developing countries.

Tariffs are "seriously undermining international economic and trade rules and also disrupting the normal operation of enterprises in various countries," he said, without mentioning the United States.

"In five years, China's economy is expected to exceed 170 trillion yuan, which will make new and important contributions to global economic growth," Mr Li added.

China has said its GDP will top 140 trillion yuan (about 639 trillion baht) this year, and the projection by 2030 is in line with proposals for its next fiveyear plan, which predicted annual growth of 4.17% over the next five years.