China slips further from high-income status as earnings measure dips

BEIJING -- China's per capita gross national income declined in dollar terms for the first time in 29 years in 2023, government data released Thursday shows, pulling it further from the World Bank's threshold for a high-income country.

The measure edged down 0.1% to $12,597 amid a sluggish economy and a weaker yuan. Gross national income measures what is earned by individuals and companies at home as well as from abroad. It is calculated by adding net interest and dividends earned overseas to gross domestic product.