China still a developing country despite fast GDP growth

BEIJING - China remains a developing country despite rapid GDP growth, Chinese Foreign Ministry spokesman Ma Zhaoxu said Tuesday.

"China's GDP growth has remained relatively fast in recent years with expanding aggregate economic volume and fruitful development. However, it must be noted that China's economy still has problems," he said.

GDP, one of the major indexes measuring national economic performance, was certainly not the only indicator, he said.

"According to data from international organizations like the International Monetary Fund, China ranks around 100th worldwide in terms of per capita GDP, which is barely half the world's average, " said Ma.

China still has a population of 150 million people below the UN poverty line of $1 a day per person, he said.

The government would continue to deepen economic cooperation with nations around the world to advance common development.

"No matter what path of development China chooses, as a responsible member of the international community, China will stick to the path of peaceful development and play its due role in protecting world peace and promoting common development," he said.

A report from Japan's Cabinet Office on Monday showed the nation had a nominal GDP of $5.474 trillion last year, behind China's $5.879 trillion.

Japan had maintained its position as the world's second largest economy since 1968.

source:Xinhua