Per capita GDP to reach US$2,400
(Reuters/Xinhua)
Updated: 2006-10-10 09:35
A vendor sleeps in front of sacks of rice
at a wholesale market in Nanjing, east China's Jiangsu province, October
9, 2006. China's economy is in good shape but the authorities need to keep
up efforts to control investment, credit and the trade surplus, the
country's top planning official said in remarks published on Monday.
[Reuters]
| China's average per capita GDP
will reach 2,400 US dollars in 2010, said a senior official with the National
Development and Reform Commission (NDRC) on Monday.
Addressing the ongoing 14th World Productivity Congress (WPC) held in
Shenyang, capital of northeastern Liaoning Province, Zhang Xiaoqiang, Vice
Minister of the NDRC, said that on current exchange rates, China's GDP will
reach 3.2 trillion US dollars in 2010.
According to data from the National Bureau of Statistics (NBS), China's GDP
exceeded 2.2 trillion US dollars in 2005, ranking fourth in the world, after the
United States, Japan and Germany.
However, per capita GDP was only 1,703 US dollars last year, ranking a lowly
110th in the world.
Experts said that while it has a big GDP, China's economy is still facing
problems such as low efficiency, a low technological level and low added value.
China's GDP is five percent of world GDP, yet it consumes 25-40 percent of
the world's crude coal, iron ore, steel, alumina and cement.
Only three out of 10,000 Chinese enterprises have intellectual property
rights for their core technologies. 99 percent of Chinese firms have no patents
and 60 percent do not have their own brands.
China will make more efforts to transform its economic growth mode during the
five-year period from 2006 to 2010 by improving its industrial structure and
developing science and education, said Zhang.
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