China's GDP per capita to reach $4,000

China's GDP per capita will approach 4,000 U.S. dollars by the end of next year, according to Li Peilin, director of the Institute of Sociology from Chinese Academy of Social Sciences.

In the last two years, China's GDP per capita (dollar-denominated) maintained a fast growth rate, said Li.

From 1978 to 2000, China's GDP per capita increased from less than 400 U.S. dollars to more than 800 U.S. dollars.

But the growth rate has picked up the pace since 2000. In 2003, China's GDP per capita surpassed 1,000 U.S. dollars. In 2008, it reached 3,000 U.S. dollars.

Li said that three reasons contributed to the fast growth rate of GDP per capita, including the high speed growth of China's economy, the decrease of newly-born population, and the appreciation of yuan.