Hu Angang: China’s Economy and Consumption in 2020
On January 16, "2016 New Economy Think Tank Summit" hosted by Ali Research was held in Beijing. Hu Angang, Dean of Institute for Contemporary China Studies, Tsinghua University, predicted China’s economy in 2020 and stated that China will become the world's largest consumer in 2020, when the consumption of Chinese residents will enter a golden age. Hu Angang said, if China's GDP growth rate remained between 6.5% -7.0% in the next few years, the national disposable income per capita will rise to 30-31 thousand yuan. China's residents with 1.4 billion urban and rural populations will become the world's largest and fastest-growing consuming group, and the consumption of Chinese residents will enter a golden age.