Beijing: The International Monetary Fund (IMF) has predicted the Chinese economy will outshine that of the US by 2016.

Based on 'purchasing power parities', China's Gross Domestic Product (GDP) will rise from USD 11.2 trillion in 2011 to USD 19 trillion in 2016, while the American economy will increase from USD 15.2 trillion to USD 18.8 trillion, according to IMF’s forecast. 

China's share of the global economy will ascend from 14 percent to 18 percent, while the US' share will descend to 17.7 percent, a Chinese newspaper reported. 

It was predicted in December 2010 that China would overtake the US in terms of nominal GDP in 2019.