China’s urbanization rate is expected to reach 60 percent by 2018 at the current pace of that process, according to a blue book released Thursday by the Chinese Academy of Social Sciences, Xinhua news agency reported. The urbanization rate will top 54 percent by the end of 2013, it said. Every one percent growth in gross domestic product created 1.3 million to 1.7 million jobs in China’s urban areas in 2012, the book said, adding that a total of 12.66 million jobs were newly added last year. The income of both rural and urban residents saw an increase from 2010 to 2012. However, there is a large income gap between the two. Annual per capita income in the highest income households was 20 times more than that of lower income families, according to the report.
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