Guangzhou Per Capita GDP Exceeds 10,000 USD in 2006

@moreinfo (3867)
China
January 4, 2007 11:34am CST
GDP (gross domestic product) per capita in the southeastern city of Guangzhou is expected to exceed 10,000 U.S. dollars in 2006, according to local authorities. With seven million registered residents, Guangzhou, capital of China's richest province, Guangdong, will see GDP reach 623.6 billion yuan (about 80 billion U.S. dollars) in 2006, 14.4 percent higher than 2005, said city mayor Zhang Guangning in a draft report on the work of the city government. "The breakthrough in GDP per capita indicates that Guangzhou has become China's first developed city by World Bank standards," said Peng Peng, a researcher with the Guangzhou Academy of Social Sciences. Guangzhou's per capita GDP exceeded 8,500 U.S. dollars in 2005, with the Engel coefficient -- which measures the proportion of income that is spent on food -- down to 38 percent. Statistics show that the economic growth is mainly driven by the automobile, petrochemical, electronics and communications equipment industries. But the city has decided to hold growth to 12 percent as the national focus shifts from chasing GDP expansion at all costs to achieving balanced, sustainable development, Zhang said. "The move matches the provincial target to lower the GDP growth rate to nine percent amid efforts to optimize economic structures and deepen reforms." "By slowing growth, we aim to achieve a balance between economic development, environmental protection and the use of resources," said Huang Huahua, governor of Guangdong. (from a report via XH)
5 responses
@huanghaozi (1474)
• Egypt
2 Feb 07
I've read this from newspapers some days ago . This is a good news for me , because I live in Guangzhou . Guangzhou is one of the biggest country in China .
1 person likes this
@moreinfo (3867)
• China
2 Feb 07
haha, its the capital of guangdong proncive, not a country. so you are enjoying the warm climate there, but cold here in bj.
@hsandy (96)
• China
4 Jan 07
I've read this from newspapers some days ago.Guandong is the richest province in China and as it's capital city Guanzhou really did a good job in the year 2006.
1 person likes this
@moreinfo (3867)
• China
5 Jan 07
well, always dont like or doubt such "showing" as the statistics should based on strict scientific research.
@yueliu (1623)
• China
2 Feb 07
congratulations~~^_^!!!!!
1 person likes this
@mypigbox (2245)
• China
14 Jan 07
Get the news.But there is no use for me.I donot get any profit from it.What shall i do then?
1 person likes this
@wei237 (94)
4 Apr 10
Using Gdp per capita as an economic indicator is not fair, because not everyone earned 10,000 usd annually.