China’s GDP rises fast
According to the National Bureau of Statistics (NBS), compared with only 1.8 percent in 1978, China’s share of global gross output rose to 6 percent at the end of 2007 after the country’s reform and opening up.
The rapid economic growth over the last 30 years has made China’s GDP rank from 10th in 1978 to fourth after the United States, Japan and Germany.
China’s economic output was $3.28 trillion in 2007, which was about 23.7 percent of that of the US, 74.9 percent of Japan’s and 99.5 percent of Germany’s.
By World Bank rankings, China is still a developing economy with lower middle income. Per capita income jumped to $2,360 in 2007 from $190 in 1978, said the NBS statement.
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