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People's Daily Online>>China Business

China ranks among middle, high-income countries

(Beijing Daily)

17:16, December 13, 2011

Edited and translated by People's Daily Online

The "2012 Industry Blue Book" released yesterday by the Chinese Academy of Social Sciences said that China now ranks among the middle and upper income countries.

According to the grouping standards released by the Word Bank in 2008, a country with the per capita gross national income (GNI) between 3,865 U.S. dollars and 11,905 U.S. dollars will be categorized as a middle and upper income country, while China's per capita GNI reached 4,260 US dollars last year.

The report said that China ranks first in its current international competitiveness of industry, followed by Germany, the United States and Japan. Hong Kong and Taiwan are in the 13th and 17th place, respectively.

The report also warns China against falling into the "middle income trap" and councils it to maintain healthy and rapid development.

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