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China enters list of lower-middle-income countries: NBS

By Zhang Jiawei (chinadaily.com.cn)
Updated: 2009-09-08 11:52

China's economic aggregate ranked third in the world as of 2008, pulling it into the list of lower-middle-income countries from low-income ones, according to a Sept 7 report released by the National Bureau of Statistics (NBS).

The report, featuring the nation's 60-year development since 1949 when new China was founded, also said China has gradually become a large manufacturing country as it strengthened industrial infrastructure construction and expanded productivity.

China maintained an average annual GDP growth of 8.1 percent in the past 60 years, making its current economic aggregate 77 times more than that of 1949, the report said.

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The per capita gross national income hit $2,770 in 2008, which means the country has shaken off its long-term image of low-income and entered the list of lower-middle-income countries, the report said, citing the World Bank criterion.

The added value from China's manufacturing industry rose to 11.4 percent of the world's total in 2007, compared with 5.1 percent in 1995, the report revealed, quoting the United Nation's data and making the calculations on the basis of prices in 2000.

Among the world's 22 main industrial categories, seven in China's manufacturing industry rank No 1 by proportion in the world. A total of 15 categories have seen China in the top three names.

When compared with other developing countries, China ranks first in 21 categories and 11th in only one category.