Economy

China GDP to hit 37t yuan mark in 2010

(Xinhua)
Updated: 2010-12-16 09:36

BEIJING - A leading Chinese government think tank in a research report issued Wednesday predicted that China's economy in 2010 would grow 10 percent year-on-year with gross domestic product (GDP) reaching 37 trillion yuan ($5.56 trillion).

In its annual Blue Book of China's Society, the Chinese Academy of Social Sciences (CASS) noted that in 2010 China had made great efforts to keep its macro economic policy consistent and its economy had begun to recover.

China's GDP stood at over 34 trillion yuan with an economic growth of 9.1 percent in 2009.

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Income levels continued to rise steadily among both urban and rural residents in 2010, while the income growth rate of rural residents was forecast at over 8 percent, outpacing the rate of their urban counterparts, the blue book said.

On life quality of Chinese residents, the book said overall life satisfaction of urban and rural residents was declining and people were less satisfied with their economic status, occupation and social security.

Further, migrant workers who belong to the "80s Generation" were found to work longer but earned less than those migrant workers born before the 1980s.

Migrant workers who were born in the 1980s accounted for 45.6 percent of the Chinese migrant worker population, according to the book.