By The Times Of India China is poised to become the world’s second largest economy by the end of the year, as the government’s plans to raise the country’s gross domestic product (GDP) by 7.7% this year to a level not seen since the end.
The nation’s leaders have been working on boosting their economy for more than a decade, and this year marks the first time in more than three decades that the economy is projected to exceed 10% growth.
China’s economy is forecast to expand by 7% this fiscal year, the first since 1990, according to the National Bureau of Statistics (NBS), which is the government body responsible for collecting economic data.
The government aims to grow GDP by 7%.
While GDP growth will likely remain low for a long time, China’s growth in the past two years has been faster than the overall growth of the world economy, as shown in the chart below.
China’s economy has grown at an average annual rate of 6.3% during this time.
This chart shows the average annual growth rate in China over the past decade:The country’s growth has been a boon for the country and has been supported by China’s rapid investment in infrastructure and other major infrastructure projects, as well as the expansion of the economy.
In addition, China has been able to increase its exports more than the global average and has become a major global trading partner, even though it is one of the biggest buyers of oil, coal and other fossil fuels.
In a recent report, The Economist Institute, a Washington-based think tank, said that China is now the world leader in the development of renewable energy.
The country has also begun to open up the market to private companies, and it is pushing ahead with plans to open more than 50 new markets.
According to Bloomberg New Energy Finance, China is the worlds largest solar market.
Solar panels have been an integral part of China’s energy transformation, and the country is aiming to create a $1 trillion clean-energy sector by 2020.
The Chinese government has also been building a new coal-fired power plant in the far north of the country, as part of its plan to expand energy production.
China is expected to create about 2,000 gigawatts (GW) of clean energy by 2020, with the construction of new coal plants estimated to be worth $6 billion to $10 billion.
According to a report from the Center for Strategic and International Studies, China will also be able to boost its solar power generation by about 15%, and to double its coal-fueled power generation to a total of 4,000 GW.
In addition to its clean-power initiatives, the Chinese government is also working on the implementation of a carbon tax, which it hopes will lower carbon emissions by as much as 30%.
According to the Center on Global Energy Policy, the carbon tax is expected in 2020 to cost the country $2 trillion to $5 trillion, and would be one of Chinas most ambitious energy policies.
It is estimated that the tax could have a positive impact on the world carbon budget by as early as 2030, when it would generate about $20 trillion in revenue.
The country is also developing its own energy efficiency measures.
Its efforts are aimed at lowering carbon emissions and reducing air pollution in rural areas and the city.