11 China Cities Average $20,000 Real Per Capita GDP

The per capita GDP of the 11 richest Chinese cities has risen to $20,000 on a purchasing-power parity (PPP) basis, reported Korea’s Chosun Ilbo newspaper. These cities are headed up by Shenzhen, Guangzhou and Suzhou, and their combined population exceeds 100 million.

The per capita GDP on a PPP basis of the United States is $46,400, Japan is $32,600, Korea is $27,700 and Saudi Arabia is $23,000, according to the CIA World Factbook. China’s national per capita GDP is $3,600 nominally but $6,500 on a PPP basis.

The per capita GDP of these 11 wealthiest cities in China averages $11,430 on a nominal basis due to the yuan’s low pegging to the dollar. The most affluent city was Shenzhen at $13,754, followed by Guangzhou ($13,015) and Suzhou ($12,211).

The five mainland China cities that joined this elite group this year are Ningbo, Dalian, Weihai, Zhuhai and Beijing, according to the Korea Trade and Investment Promotion Agency (KOTRA).

Shenzhen and Suzhou attained the $10,000 per capita GDP level in 2007, followed by Wuxi, Foshan and Shanghai in 2008.

$10,000 per capita GDP is considered the demarkation level for mid-level wealthy nations, according to the World Bank. The first Asian country to reach the milestone was Japan in 1984, followed by Hong Kong in 1987, Singapore in 1989, Taiwan in 1992 and Korea in 1995. The level was attained by 66 nations at the end of 2008.