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Bureau of Statistics Said: China Leap into the World's Middle-Income Countries Ranks
data analysis
01:16PM
Dec 7,2009
Source:SMM

BEIJING Oct. 28-- National Bureau of Statistics report in October 27 showed that by 2007 China's per capita gross national income reached 2360 U.S. dollars. According to the division standards of the World Bank, China has jumped from low-income countries to middle-income Countries in the world.

    Data show that per capita GDP rose from 381 yuan in 1978 to 1,112 yuan in 1987, reached 2,311 yuan in 1992, reached more than 10 tousands yuan in 2003, reached 10,542 yuan by 2007 and quickly climbed to 18,934 Million, after deducting price factors, it increased nearly 10 times from 2007 to 1978, and the average annual growth rate was 8.6 %. Per capita gross national income grows simultaneously and rapidly, up from 190 U.S dollars in 1978 to 2,360 U.S. dollars in 2007. According to the World Bank's criteria of classification, our country has jumped from low-income countries to middle-income countries in the world.

    At the same time, China's rapid economic growth has to accelerate the expansion of total economic situation. GDP quickly jumped from 364.5 billion yuan in 1978 to 24,953 billion yuan in 2007. Among them, from 1978 to 1986, an increase of 1 trillion yuan spent 8 years, up to 1991's 2 trillion yuan 5 years, in the following 10 years an average annual rise was nearly 1 trillion yuan. In 2001 GDP reached more than 10 trillion yuan and entered high-speed growth from 2002 to 2006 with an average annual increase of 2 trillion yuan, exceeded 20 trillion yuan in 2006, and on this basis, in 2007 it increased 3.76 trillion yuan again. 

    Total economic output in the world ranking improve steadily. Total economic expansion significantly narrowed the gap between our country and the world's major developed countries. In the past 30 years, China's gross domestic product in the world ranking rose from No. 10 in 1978 to No. 4, only after the United States, Japan and Germany. According to the International Monetary Fund statistics, converted into U.S. dollars, China's gross domestic product in 2007 is 3.2801 trillion U.S. dollars, equivalent to 23.7 % of the United States and Japan 74.9 %, Germany's 99.5 %, raise 17.2%, 59.7% and 78.9 % respectively compared to1978. At the same time, economic volume accounted for the share of the world economy increase obviously from 1.8 %in 1978 to 6.0 % in 2007.

    (Edited by CBI China) 

China economy macroeconomy
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