Per-Capita GDP Expected to Hit US$1000 by Year's End

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Last updated at: (Beijing Time) Wednesday, September 25, 2002

Per-Capita GDP Expected to Hit US$1000 by Year's End

Sources from the National Bureau of Statistics (NBS) show China's GDP in 2002 is expected to exceed US$1.3 trillion, meaning that the per-capita GDP will reach US$1000 by the end of this year.

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Sources from the National Bureau of Statistics (NBS) show China's GDP in 2002 is expected to exceed US$1.3 trillion, meaning that the per-capita GDP will reach US$1000 by the end of this year.

Qiu Xiaohua, NBS deputy director, said to reporters that China's per-capita GDP will rise to US$1000 by the year's end for the first time ever in history. Generally speaking, when per-capita GDP reachesUS$800, it means the Chinese have enjoyed a fairly comfortable life. So what does US$1000 imply to the country and everyone of its people?

Officials of the NBS explained the country's GDP will top 10 trillion yuan, equal toUS$1.3 trillion and the per-capita GDP US$1000, according to the current annual economic growth rate of 7 percent.

As experts pointed out, the amount of US$800-US$4,000 will put people's living standards in a better-off stage. Therefore, it is a rather long historical process to comprehensively build up a fairly comfortable society.

But how long will it take to enter a better-off society? Related officials with the State Development Planning Commission noted that if China can keep its annual economic growth rate at 7 percent, the country's GDP will amount to 12 trillion yuan and per-capita GDP 9,400 yuan, equivalent to over US$1200.

By PD Online Staff Zhu Lizhen

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