China released data regarding the nation's industrial development on March 1. Value-added industrial output, a key economic indicator, surpassed 31 trillion yuan or about 4.8 trillion U.S. dollars in 2020. This kept China as the largest manufacturing nation for an eleventh consecutive year. On the other hand, China's per capita GDP increased to over $11,000 last year, topping $10,000 for a second year. China's per capita GDP figures mean the country could enter the World Bank's high-income category within years. John Gong, a professor from the University of International Business and Economics, shared his opinions on these figures.