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Beijing's per capita GDP expected to top $8,000 this year
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13:14, January 21, 2008

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The capital city's per capita gross domestic product (GDP) is expected to exceed 8,000 U.S. dollars this year, said vice and acting mayor Guo Jinlong here on Sunday.

Guo made the remarks while delivering a government work report at the opening of the first annual session of the municipal People's Congress, the legislature of Beijing.

The per capita GDP in Beijing is already above 7,000 U.S. dollars and the city is aiming for a 10,000-U.S.-dollar GDP in 2012, with annual growth of 9 percent over the next five years, according to Guo

Beijing's economy grew 12 percent annually over the past five years, increasing its GDP from 433 billion yuan (about 60 billion U.S. dollars) in 2002 to 900 billion yuan in 2007, the official added.

"Beijing won't find it difficult to meet the 8,000-dollar target this year, considering its economic growth rate," said Mei Song, deputy president of the Beijing Academy of Social Sciences.

China aims to quadruple the per capita GDP of the year 2000 by 2020, when the figure is expected to reach 3,500 U.S. dollars. China's per capita GDP rose from 7,858 yuan in 2000 to 16,084 yuan in 2006.

Per capita GDP in the southern metropolis of Guangzhou, the capital of Guangdong Province, exceeded 10,000 U.S. dollars in 2006, making it the first developed Chinese city by World Bank standards.

The World Bank defines moderately developed countries with per capita GDP in the range of 3,000-10,000 U.S. dollars. The per capita GDP of the United States was 44,000 U.S. dollars in 2006.

Source: Xinhua

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