China to enter ....
the national economy.
The third stage, upper middle-income (2010–2023), is when the economy enters the “new normal.” It is expected to be another 13 years before China reaches the high-income stage in 2024. Currently in China, high-tech contributions to economic growth have reached 55.3 percent, but this number is still low compared to the standard of developed countries.
In the next six to seven years, assuming China’s current economic development continues, a well-off society is just around the corner. However, considering the fact that China’s GNI per capita is only $12,600 (compared to $55,000 in the U.S. and $110,000 in Luxembourg), Professor Liu says there is still a long way to march before China becomes a truly developed country.— Agencies