China’s Resident Disposable Income Rises 6.5% In 2018

China’s per capita disposable income stood at 28,228 yuan (US$4,165) in 2018, up 6.5 percent year on year in real terms, official data showed Monday.

 

Separately, urban and rural per capita disposable income reached 39,251 yuan and 14,617 yuan in 2018, up 5.6 percent and 6.6 percent in real terms after deducting price factors, respectively, according to the National Bureau of Statistics.

 

In 2018, the real growth of per capita disposable income in rural areas was faster than that in urban areas, indicating narrowing of the urban-rural income gap, according to the NBS data.

 

Chinese per capita consumer spending increased by 6.2 percent year on year in real terms to reach 19,853 yuan in 2018. The increase was 0.8 percentage points faster than the previous year.

 

NBS data also showed China’s economy grew 6.6 percent year on year in 2018.

 

By 2020, China aims to double the per capita income of its urban and rural residents from 2010 levels to build a moderately prosperous society.

 

Source: Xinhua