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China's per capita GDP is expected to exceed 12,000 US dollars this year, nearing the threshold of high-income countries

beijingwalker

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China's per capita GDP is expected to exceed 12,000 US dollars this year, nearing the threshold of high-income countries
17:112021/12/28

In 2020, China's mainland's GDP will exceed 100 trillion yuan (RMB, the same below), and the per capita GDP will exceed 10,000 U.S. dollars for two consecutive years. Han Wenxiu, deputy director of the Office of the Central Committee of Finance and Economics of the Mainland China, said at the "2021-2022 Annual China Economic Conference" held recently . Some institutions, experts and scholars now predict that the Mainland's GDP will grow by about 8% this year, and the total amount will exceed 110 trillion yuan. Per capita GDP exceeds US$12,000, which is close to the threshold set by the World Bank for high-income countries.

According to the data released by the International Monetary Fund (IMF) cited by China Business News, the total population of the 62 IMF member states with a higher per capita GDP than mainland China's in 2020 is 1.242 billion people, accounting for 16.3% of the population of all IMF member states, Lower than the population of mainland China's. In other words, in the global GDP per capita list of 194 countries and regions released by the IMF, the standard of living of mainlanders has been able to enter the top 1/3.

And if you look at the performance of the mainland’s per capita GDP from cities, and based on the 7th census population, there will be a total of 11 provinces in the mainland with per capita GDP exceeding US$10,000 in 2020, including Beijing, Shanghai, Jiangsu, Fujian, Tianjin, Zhejiang, Guangdong, Chongqing, Hubei, Inner Mongolia and Shandong. The two municipalities directly under the Central Government of Beijing and Shanghai both exceeded US$22,000, of which Beijing reached US$23,908.

 
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A better measure would be median income rather than per capita. You want a more equal distribution of wealth in a stable society. There are people owning dozen properties in major cities while younger generations struggle to afford a down payment.
 
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