ital economy will be the new engines for the economy, while some traditional driv
ing forces, such as injecting funds into the market, are losing momentum, Zhu said.
China’s total GDP exceeded 90 trillion yuan ($13.4 trillion) in 2018, and the per capita GDP was
about $9,700. Economists predict that if the country maintains growth of at least 6 percent this
year, which is likely given the current momentum, its per capita GDP this year would surpass $10,000.
That means China would move closer to the standards for a “high-inco
me country” — above $12,736 in per capital GDP — set by the World Bank in 2015.
However, a productivity slowdown, aging population and unbalanced regional development could be among the “bot
tlenecks” that constrain China in becoming a high-income country, economists said.