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Beijing Targets US$10K Per Capita GDP in 5 Years

Beijing's annual per capita GDP is expected to reach US$10,000 in five years, almost double the current figure of US$6,000, Beijing's Party chief Liu Qi said yesterday.


Liu said the city's GDP grew at an average of 12.1 percent over the past five years, with last year's GDP hitting 772 billion yuan (US$100.52 billion) and per capita GDP US$6,210, realizing its target two years ahead of schedule, Shanghai Securities News reported.


Liu made the remark at the 10th Congress of the 16th Beijing Municipal Committee of the Communist Party of China before 731 of the 758 deputies.


The next five years is a crucial period for the city's development to conquer the US$10,000 territory, Liu said.


People's disposable income in Beijing, which may grow with the rising per capita GDP, reached 19,978 yuan in urban areas last year, growing 70 percent from 2001, the report said.


The city's investments in infrastructure will keep the economy booming over the next five years, the report said.


The investments totaled 280 billion yuan from 2002 to 2006, partly due to preparations for the 2008 Beijing Olympic Games.


Metro line tracks will reach 420 kilometers in 2012 and extend to 561 kilometers in 2015 to take 50 percent of the city's traffic load, the report said.


The city now has 114km of track and another 115km are under construction.


(Shanghai Daily May 19, 2007)

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