State media is hailing a rise in China’s per capita GDP in 2019 to just above the key USD$10,000 threshold.
Official data indicates that in 2019 China’s per capita GDP figure was USD$10,276, entrenching the country’s position amongst upper middle-income countries, which are currently defined by the World Bank as those with per capita incomes of between $3,956 and $12,235.
China’s 2019 GDP is estimated to be close to 100 trillion yuan, or around $14.4 trillion, making it the world’s second largest economy.
The Chinese Communist Party’s People’s Daily points out that China’s GDP only surpassed that of Japan’s in 2010, and that in the past decade its share of the global economy has risen from 9.25% to 16%, while per capita GDP has more than doubled from $4,550 at the start of the decade.
The People’s Daily said that “at present the gap between China’s per capita GDP and high-income nations is shrinking,” yet pointed out that China “is still amongst the ranks of middle-income countries.”
“The gap between a significant number of developed countries remains very pronounced – the per capita GDP’s of countries such as the US, Japan, Germany, the UK, France, and Italy are all above $30,000, and for the US it exceeds $60,000.
“China cannot be prideful or complacent, and will uphold the the momentum of reform and opening and drive high-quality growth.”