BEIJING -- China has laid out an ambitious growth plan that would put its gross domestic product just a quarter below the American economy in 2025, sending a forceful message that the country will emerge as an economic powerhouse rivaling the U.S.
The goal announced Friday at the session of the National People's Congress is to bring per capita GDP to the level of a "moderately developed" economy by 2035, which is estimated at about $20,000 to $30,000. Given China's population, that would mean average nominal growth of more than 6% in dollar terms each year.
