I personally work with 17 Chinese colleagues who are doing the same job since last 18 years without changing the company and with only one promotion. They are afraid of changing jobs as there's not much opportunities available outside the metro cities and it's extremely costly to live in metro cities. Do not believe things coming out of China glorifying themselves.
Thanks for the verification as I was also confused to read this because from pat few days I have reading that China is facing some severe financial problems like deflation, no buying of things. And people of there are trying hard to sell there products which are in abundant form. Yuan will slowly lose its value. And still OP was saying the GDP of China has improved in compared to Canada or some other country. He might having this discussion from some another angle but things are really not so go there roo because where inflation could put the financial status of a country at risk there deflation also has bad impact and it could effect the import and export plus selling will be lesser then before.
GDP calculation and market cap calculation are same things and means very little. For example -
A country has 999 residents living in poverty and one billionaire. So as per the GDP calculation, their per capita income is 1 million.
Similarly, a cryptocurrency has 1000 units in the market and one unit got sold at 1 million. The market cap of that cryptocurrency becomes 1 billion.
Both are flawed!