Per-capita GDP in Beijing to Reach US$6000 by 2008

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Last updated at: (Beijing Time) Wednesday, November 13, 2002

Per-capita GDP in Beijing to Reach US$6000 by 2008

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According to official statistics published last Monday by Beijing Municipal Statistical Bureau, urbanites' per-capita disposable income in the city had achieved a two-digit growth to RMB$10,300 in the first 10 months this year. The statistics suggest Beijing has entered a better-off stage.

Early by 1996, Beijing put its residents' living standards in a basically "well-off" stage, four years ahead of the China's average. In 2001, its per-capita GDP reached US$3000, indicating the city has become one moderately developed. In the meantime, the Angle modulus of urbanites declined to 36.2 percent, which marked Beijing has entered a better-off stage.

The statistics also show the people with their consumption relying solely on "food" for living as in the past have taken a turn for a diversified life. At present, people's expense on medical care, transportation and communication, housing, education as well as cultural entertainment has risen by a big margin to make over 40 percent of their consumption total. Meanwhile, consumption of cars in the city also shows a marked increase, with about 100,000 autos sold in the first nine months of this year, an increase of 25 percent against the same period last year.

The first 10 months this year even saw the economy grow at a two-figure rate. Initial assessments show the GDP during this period up to 243.4 bn yuan, 10 percent more over the same period last year at constant prices.

Officials with the bureau even estimate hopefully that the city is likely to reap a per-capita US$6,000 GDP by 2008 and a per-capita US$ 10,000 GNP by 2020, until which Beijing will become a truly developed city

In addition, the past five years has witnessed a fast growth of investment in real estate. Since 2001, the proportion of real estate investment in the social investment as a whole has exceeded 50 percent, reaching 57.3 percent from January to October this year, an increase of 20 percent over that of 1997. Being a priority of real estate development, commodity residential buildings absorbed an investment of 129 bn yuan or 53 percent of the total investment in real estate from 1997 to 2001, while those that had started construction or entered a second phase covered an 85 percent area of the total.

By PD Online Staff Zhu Lizhen

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