China Financial Daily

Experts: China’s per capita income in the next 30 years to reach the level of moderately developed
National Bureau of Statistics deputy director of national integrated statistical Wang Wenbo in August when he said that in 1949, China’s rural residents per capita net income of 44 million; in 2008, China’s per capita net income of rural residents 4761 yuan. In 2008 than in 1949, the number increased by 108 times. Liu Wei, president of Peking University, School of Economics, told a press interview, said BEIJING, it can be expected that if China unswervingly adhere to the direction of market-oriented reforms, China has the capacity to achieve the economic growth of around 7% annually, then in the next 30 years, China can fully achieve the goal of industrialization, per capita income to reach the level of moderately developed countries.

Liu Wei mentioned that 1949 to 1978, China is not a market economy country, so the three decades of GDP data do not fully representative of China’s economic development. Mid-to late 80s of last century, the Chinese conducted a market-oriented economic reforms, institutional, statistical methods and the international standards step by step, so this thirty years behind the GDP growth is an extremely profound changes in the economic system.

When talking about China’s development experience, Liu Wei pointed out that China must unswervingly adhere to the direction of market-oriented reforms. He believes that China’s reform and opening up, whether it is the growth rate of GDP and per capita GDP growth rate is unprecedented, more than any other country in the world. At the same time to see, GDP growth, changes reflect changes in the structure of the national economy.