Per capita GDP to reach US$2,400
(Xinhua)
Updated: 2006-10-09 17:01
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. (For more biz stories, please visit Industry Updates)
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