20, 2012, 11:06 AM

canada goose Beijing Reaches New Level of Prosperity The China Perspective Jan. 20, 2012, 11:06 AM According to news of a report issued yesterday by the city’s statistics bureau, Beijing residents’ per capita share of the city’s GDP was 80,394 RMB, or $12,447 USD, in 2011. These figures, which were based on the city’s total GDP amount and permanent resident population figures, place China’s capital at the hign-end of the “upper middle income” bracket as defined by the World Bank Canada Goose , according to Yu Xiuqin, a spokesperson for the Beijing Statistics Bureau. In 2010, the World Bank classified economies as “upper middle income” when gross national imports (GNI) per capita reached the between $3,976-$12,275 USD; while economics with GNI per capita exceeding $12,276 USD were considered “high income”. As a whole, China’s GNI per capita stood at $4,270 USD in 2010, according to World Bank figures. As Yu noted yesterday in statements to the media, the difference between the World Bank’s GNI-based figures, and the GDP-based figures gathered by the Chinese government are not directly comparable. But, Yu said, Beijing’s current per capita GDP levels “can be used as an approximate estimation of prosperity levels.” Beijing’s total GDP, according to preliminarly evaluations, rose by 8% during the first three quaters of last year. News of Beijing’s newly-found wealth comes hot on the heels of recently reported rises to China’s urban disposable incomes. According to the National Bureau of Statistics, the country’s city dwellers had an average of 21,810 RMB ($3,445 USD) per person in disposable income in 2011, up 14.1% year-on-year, or 8.4% after factoring in recent food price hikes. While Yu and others within the Chinese government have been quick to point to China’s current economic slow-down and the slumping housing market as potential threats to the country’s future economic growth, at least during the short-term, recently released macro data has been less dire than many analysts had originally predicted. Earlier this week canadagooseparka , China’s economic growth rate was reportedly 8.9% during Q4, a two year low but still above the 8.7% median estimate predicted by 26 economists recently surveyed by Bloomberg, and well exceeding the 8% growth rate which signals a soft landing. canada goose parka

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