01

2020 Statistical Bulletin: China's GDP per capita exceeds $10000 for two consecutive years

On February 28, the Statistical Bulletin on National Economic and Social Development 2020 was released. The communiqué pointed out that in 2020, China's economic performance will improve quarter by quarter and gradually return to normal, achieving positive economic growth among the world's major economies. On the day of the communiqué, Sheng Laiyun, deputy director of the National Bureau of Statistics, wrote an article that 2020 is the end of the "13th Five-Year Plan" and a key year for achieving the first centenary goal. After five years of hard work and continuous struggle, the main goals of economic and social development put forward in the 13th five-year Plan have been better achieved. The total economic volume broke through the 100 trillion yuan mark, and the per capita GDP exceeded 10000 US dollars for two consecutive years. GDP per capita is about $10504 In January 2020, Ning Jizhe, director of the National Bureau of Statistics, announced that China's GDP per capita reached $10276 in 2019 at the average exchange rate. This is the first time in the history of China's per capita GDP exceeded 10000 US dollars. In the past 2020, China's economy faced the challenges brought about by the new coronary pneumonia epidemic, and finally bucked the trend to achieve positive annual growth, with total GDP exceeding the 100 trillion yuan mark. The total economic volume continues to maintain a positive growth state, which provides basic conditions for the per capita GDP to continue to rise and remain above US $10000. According to the 2020 Statistical Bulletin, the annual per capita GDP is expected to be 72447 billion yuan, an increase of 2.0 percent over the previous year. In addition, the communique also said that the average exchange rate of RMB for the whole year was 6.8974 yuan to the US dollar, an appreciation of 0.02 percent over the previous year. A simple calculation shows that China's GDP per capita will be about $10504 in 2020, a slight increase from $10276 in 2019. Sheng Laiyun concluded that during the "13th Five-Year Plan" period, the average annual nominal increase of my country's GDP reached 6.5 trillion yuan, 1 trillion yuan more than during the "Twelfth Five-Year Plan" period. Residents' income and economic growth are basically synchronized, and the rural poor are all out of poverty under the current standards. During the "Thirteenth Five-Year Plan" period, the average annual per capita disposable income of residents across the country increased by 2045 yuan in nominal terms, an increase of 156 yuan over the "Twelfth Five-Year Plan" period; the 55.75 million rural poor were lifted out of poverty, with an average annual poverty reduction of 11.15 million people. Major development strategies have been implemented steadily, major reform and opening-up measures have been accelerated, major engineering projects have been solidly constructed, significant progress has been made in the construction of ecological civilization, and great historic achievements have been made in building a moderately prosperous society in an all-round way. Increasing industrial capacity utilization The communique shows that the added value of the three major industries increased by 3.0, 2.6 and 2.1 respectively last year. In terms of industry, the total industrial added value for the whole year was 31307.1 billion billion yuan, an increase of 2.4 percent over the previous year. In the whole year, the added value of high-tech manufacturing industry increased by 7.1 percent over the previous year, accounting for 15.1 percent of the added value of industries above scale; the added value of equipment manufacturing industry increased by 6.6 percent, accounting for 33.7 percent of the added value of industries above scale. In addition, the data also show that industrial capacity utilization is improving in 2020, with 1. 2. 3. 67.3 percent, 74.4 percent, 76.7 percent and 78.0 percent in the fourth quarter, respectively. Pig inventory increased by 31% over the end of last year In terms of residents' income and consumption, Sheng Laiyun pointed out that in 2020, residents' income will grow in tandem with the economy. For the whole year, the per capita disposable income of residents nationwide was 32189 yuan, an increase of 4.7 percent over the previous year. After deducting the price factor, the actual growth rate was 2.1 percent, which was faster than the growth rate of per capita GDP. For the whole year, the per capita consumption expenditure of residents nationwide was 21210 yuan, down 1.6 percent from the previous year. After deducting the price factor, the actual decline was 4.0 percent. However, the share of online retail sales of physical goods continues to increase. The online retail sales of physical goods in the whole year was 9759 billion billion yuan, an increase of 14.8 percent over the previous year, and accounted for 24.9 percent of the total retail sales of consumer goods, a sharp increase of 4.0 percentage points over the previous year. At the same time, the data also show that in 2020, China's pork production was 41.13 million tons, down 3.3 percent; beef production was 6.72 million tons, up 0.8 percent; mutton production was 4.92 million tons, up 1.0 percent; and poultry production was 23.61 million tons, up 5.5 percent. In the whole year, 527.04 million pigs were put on the market, down 3.2 percent from the previous year. Consumer prices rose by an average of 2.5 per cent for the year, below the expected target of around 3.5 per cent. The protection of the bottom line increased, and the per capita net transfer income of the national residents increased by 8.7 per cent in nominal terms over the previous year. Grain production reached a new high. The annual grain output was 669.49 million tons, an increase of 0.9 percent over the previous year, and remained above 1.3 trillion jin for six consecutive years. Energy supply remains stable. The output of raw coal, crude oil and natural gas increased by 1.4, 1.6 and 9.8 respectively over the previous year.