Per capita disposable incomes in Beijing, Shanghai top 70K yuan, highest in nation
Published: Jan 20, 2022 11:41 AM
View of Pudong Photo: cnsphoto

View of Pudong Photo: cnsphoto

In 2021, Beijing and Shanghai recorded per capita disposable incomes of more than 70,000 yuan ($11,033), far ahead of the nation's 29 other provincial-level regions, according to reports on Thursday.

Shanghai had the highest figure, at 78,027 yuan, while Beijing's per capita disposable income exceeded 70,000 yuan for the first time, reaching 75,002 yuan, up 8 percent year-on-year, reported.

In 2021, both cities' GDPs topped 4 trillion yuan, representing year-on-year growth of 8.5 percent and 8.1 percent, respectively. In comparison, 4 trillion yuan is equal to or more than the GDPs of more than 20 countries and regions, including Thailand, Belgium and Austria.

In 2021, China's per capita disposable income hit 35,128 yuan, growing 8.1 percent year-on-year after adjustment for inflation, the National Bureau of Statistics (NBS) said. 

Rising disposable income is essential to several key areas of priority for top policymakers, including people's livelihood, consumption and the overall economic development, as consumer spending is directly connected to changes in disposable income. 

Eight provincial-level regions, including Shanghai, Beijing, Zhejiang, Jiangsu and Tianjin, recorded per capita disposable incomes above the national level.

The income growth rates in western China were generally higher than those along the east coast. 

Data from the NBS showed that per capita disposable incomes in western China increased by 9.4 percent. That was 0.3, 0.2 and 1.4 percentage points faster than in eastern, central and northeastern China, respectively. 

Fang Xiaodan, an official from the NBS said that the figures reflected a narrowing income gap between the western parts of the country and the traditional economic hubs in the east and south.

In 2021, the per capita disposable income of rural residents stood at 18,931 yuan, up 9.7 percent, while the per capita disposable income of urban residents reached 47,412 yuan, up 7.1 percent, also reflecting a narrowing divide.

Global Times