China's per capita GDP is expected to quadruple from its 2000 figure by the year 2020, Hu Jintao said in his report to the 17th National Congress of the Communist Party of China (CPC) on Monday.
The rapid growth will be under the condition of reduced consumption of resources and greater efforts in environmental protection, Hu explained on behalf of the 16th CPC Central Committee.
"We will quadruple the per capita GDP of the year 2000 by 2020 through optimizing the economic structure and improving economic returns while reducing consumption of resources and protecting the Environment," he said.
This goal is much higher than the target set by the CPC five years ago at the 16th National Congress, which was to quadruple the GDP value, without the mention of per capita, by 2020, observers noted.
Zhuang Jian, an economist with the China Representative Office of the Asia Development Bank, said that the new parameter could better reflect to what extent the average Chinese citizen has benefited from the country's economic boom. "Per capita GDP measures not only the overall strength of the country but also the prosperity of the people. This is called 'put the people first'," Zhuang said.
Five years ago, the 16th CPC National Congress outlined the task to quadruple the GDP of the year 2000 by 2020 through optimizing economic structure and improving efficiency.
China's GDP has continued to grow at a speed of over 10 percent for four consecutive years and topped 20 trillion yuan (US$2.7 trillion) in 2006.
But the fast economic growth has been realized "at an excessively high cost of resources and the environment," Hu acknowledged.
The per capita GDP stood at US$2,042 in 2006, up US$339, or nearly 20 percent, over that of the previous year, according to He Chuanqi, a researcher with the Chinese Academy of Sciences. Statistics from the National Bureau of Statistics showed that the per capita GDP of China averaged 7,078 yuan, about US$856, in 2000. By 2020, the figure should amount to US$3,500.
Cai Zhizhou, researcher with the National Economy Examination Center of Beijing University said that, taking the growing population into account, China would only need to maintain an annual economic growth of five percent in the years to come. China's economy has maintained double-digit growth for four consecutive years and expanded at an extraordinary pace of 11.9 percent in the second quarter of the year, the fastest in a decade.
The new goal is one of the major tasks Hu outlined in his report to build a moderately prosperous society in all respects by 2020.
In addition to promoting balanced development to ensure sound and rapid economic growth, the new requirements for building a moderately prosperous society also include expanding socialist democracy and safeguarding the people's rights and interests as well as social equity and justice, enhancing the cultural and ethical quality of the whole nation, and promoting a conservation culture by forming an energy and resource-efficient and environmentally friendly structure of industries, pattern of growth, and mode of consumption.
Concerning the requirement of improving the people's well being, Hu said a basic system of social security would cover both urban and rural residents so that everyone is assured of basic living standards. A reasonable pattern of income distribution will be in place, with middle-income people making up the majority and absolute poverty basically eliminated. Everyone will have access to basic medical and health services.
Hu forecast that by the year 2020 China will have basically accomplished industrialization, with its overall national strength significantly increased and its domestic market ranking as one of the largest in the world.
It will also be a country where people are better off and enjoy a markedly improved quality of life and a good environment. The people will have more extensive democratic rights, show higher ethical standards, and look forward to greater cultural achievements.
By that time, China will have better institutions in all areas and the Chinese society will have greater vitality coupled with stability and unity. The country will be still more open and friendly to the outside world and make greater contributions to human civilization.
In the following five years, which is "a crucial period" for attaining the goal, Hu called upon the Party to work hard to lay a more solid foundation in building a moderately prosperous society of a higher level in all respects to the benefit of over one billion people.
(Xinhua News Agency October 16, 2007)
