report released by the National Bureau of Statistics on Monday.hina’s per-capita gross national income (GNI) hit $9,732 last year, up more than 10 percent from 2017’s $8836, according to a new
The World Bank classifies countries with a GNI higher than $12476 as high-income countries, while the GNI of upper-middle-income countries lies between $4036 and $12475.
This puts China firmly in the upper-middle-income group of countries and if current growth rates persist, China will officially be a high-income country in the not-too-distant future.
This is all the more impressive if you consider that back in 1952, China only had a GDP of 67.9 billion yuan and a measly per-capita GDP of 119 yuan.
In the past three years, China’s GDP reached 70 trillion yuan, 80 trillion yuan, and 90 trillion yuan, respectively. It topped 90.03 trillion yuan ($13 trillion) last year, accounting for nearly 16 percent of the global economy.