2020 Statistical Bulletin: China's GDP per capita has exceeded 10000 US dollars for two consecutive years

On February 28, the Statistical Bulletin of National Economic and Social Development in 2020 was released. The communique pointed out that in 2020, China's economic operation will improve quarter by quarter and gradually return to normal, and it will be the only major economy in the world to achieve positive economic growth.

On the day of the release of the communique, Sheng Laiyun, deputy director of the National Bureau of Statistics, wrote that 2020 is the end of the 13th Five Year Plan and the key year to achieve the first century goal. After five years of hard work and continuous struggle, the main goals of economic and social development set forth in the 13th Five Year Plan have been well achieved. The total economic output has exceeded 100 trillion yuan, and the per capita GDP has exceeded 10000 US dollars for two consecutive years.

GDP per capita is about US $10504

In January 2020, Ning Jizhe, director of the National Bureau of Statistics, announced that China's per capita GDP would reach 10276 US dollars in 2019 based on the average exchange rate. This is the first time that China's per capita GDP has exceeded 10000 US dollars in history. In the past 2020, in the face of the challenges brought by the COVID-19, China's economy finally bucked the trend and achieved positive growth throughout the year, with the total GDP exceeding 100 trillion yuan. The total economic output continues to maintain a positive growth state, providing the basic conditions for the per capita GDP to continue to rise and stay above 10000 US dollars.

According to the 2020 Statistical Bulletin, the annual per capita GDP is expected to be 72447 yuan, an increase of 2.0% over the previous year. In addition, the communique also introduced that the average exchange rate of RMB throughout the year was 6.8974 yuan to the dollar, an appreciation of 0.02% over the previous year. According to a simple calculation, China's per capita GDP in 2020 will be about US $10504, a small increase on the basis of US $10276 in 2019.

Sheng Laiyun concluded that during the "13th Five Year Plan" period, the annual nominal growth of China's GDP reached 6.5 trillion yuan, 1.0 trillion yuan more than that during the "12th Five Year Plan" period. The income of residents basically kept pace with economic growth, and all rural poor people were lifted out of poverty under the current standards. During the 13th Five Year Plan period, the average annual nominal growth of per capita disposable income of residents nationwide was 2045 yuan, 156 yuan more than that during the 12th Five Year Plan period; 55.75 million rural poor people have been lifted out of poverty, with an average annual poverty reduction of 11.15 million. Major development strategies have been steadily implemented, major reform and opening up measures have been accelerated, major projects have been solidly constructed, significant progress has been made in building ecological civilization, and great historic achievements have been made in building a moderately prosperous society in all respects.

The utilization rate of industrial capacity has been continuously improved

The bulletin 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 in the year was 31307.1 billion yuan, up 2.4% over the previous year. Among industries above designated size, the added value of high-tech manufacturing increased by 7.1% over the previous year, accounting for 15.1% of the added value of industries above designated size; The added value of the equipment manufacturing industry increased by 6.6%, accounting for 33.7% of the added value of industries above designated size.

In addition, the data also shows that the utilization rate of industrial capacity will continue to increase in 2020, with 67.3%, 74.4%, 76.7% and 78.0% in the first, second, third and fourth quarters respectively.

The number of live pigs 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 and the economy will grow at the same time. The annual per capita disposable income of residents nationwide was 32,189 yuan, an increase of 4.7% over the previous year. Excluding price factors, the actual growth was 2.1%, faster than the growth of per capita GDP. In the whole year, the per capita consumption expenditure of residents nationwide was 21210 yuan, a decrease of 1.6% over the previous year. Excluding price factors, the actual decrease was 4.0%. However, the proportion of online retail sales of physical goods continued to increase. The online retail sales of physical goods in the year totaled 9759 billion yuan, up 14.8% over the previous year; It accounted for 24.9% of the total retail sales of consumer goods, a significant increase of 4.0 percentage points over the previous year.

At the same time, the data also shows that in 2020, China's pork output will be 41.13 million tons, down 3.3%; The beef output was 6.72 million tons, up 0.8%; The mutton output was 4.92 million tons, up 1.0%; The poultry meat output was 23.61 million tons, up 5.5%. 527.04 million pigs were sold throughout the year, a decrease of 3.2% over the previous year.

The annual average consumer price rose by 2.5%, lower than the expected target of about 3.5%. More efforts were made to cover the cost of living, and the per capita net transfer income of residents nationwide increased by 8.7% in nominal terms over the previous year. Grain output reached a new high. The annual grain output was 669.49 million tons, an increase of 0.9% over the previous year, and remained above 1.3 trillion kg for six consecutive years. Energy supply remained 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.