Chinanews, Guangzhou, January 5 – Guangzhou's annual GDP per capita broke $11,000 in 2006, making it the first city to top this mark in the Chinese mainland.

 

“Now we are at the threshold of modernization,” said Peng Pai proudly, who is the director of the Research Section of Guangzhou Municipal Academy of Social Sciences.

 

Guangzhou's economy leapt by 14.4% in 2006, making a total output value of some 62.36 billion yuan.

 

According to the World Bank, the annual GDP per capita of $10,000 is the boundary between “developed” and “developing”, thus Guangzhou might become the first “developed” cities in China.