When taking stock of a country's economy, the usual shorthand is to look at gross domestic product. A new report looks at another way to measure things. It comes from the China Development Research Foundation, the organizer of the China Development forum in Beijing this weekend when business leaders and economic experts from home and abroad will discuss growth opportunities in China. Xu Xinchen has more.

By 2035, China's GDP per capita is expected to hit 35 thousand US dollars -- joining the league of developed countries such as the US and Germany. However, the China Development Research Foundation pointed out in its new report a concept other than Gross Domestic Product worth giving notice.

LIU SHIJIN, VICE CHAIRMAN CHINA DEVELOPMENT RESEARCH FOUNDATION "Gross Final Product, is a way for us to measure products included in the GDP that will not directly enter a new manufacturing cycle. That means GFP includes consumer spending, government spending and non-manufacturing investments."

The report is titled 2035: Potential and Path of China's Economic Growth. It dissects China's GFP composition and compares it with other countries at times when their GDP per capita also reached 35 thousand US dollars. The report reveals that the portion of China's total spending spent on infrastructure and real estate is significantly higher than other countries the report sampled. But the figures are expected to drop by 2035. And spending on living, travelling, dining out as well as financial products including insurance is expected to rise in the next 18 years.

LIU SHIJIN, VICE CHAIRMAN CHINA DEVELOPMENT RESEARCH FOUNDATION "Investments in real estate are expected to decline sharply before turning to a steadier decline. People's spending on living is expected to and should continue to rise, which means people's demand for a place to live is being satisfied and their materialistic demand is increasing. And we suggest the government should increase its portion of public consumption expenditure in its overall spending."

These findings match a vision laid out by Chinese President Xi Jinping during his report at the 19th CPC National Congress last October. President Xi said the country would basically realize its socialist modernization by 2035, and pointed out that Chinese people's need for a better life has been ever-growing. Xu Xinchen, CGTN, Beijing.