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October 26, 2021

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Shanghai tops in earning and spending

Shanghai topped China’s provinces, autonomous regions and municipalities in terms of both per capita disposable income of residents and per capita consumer spending in the first three quarters, according to the National Bureau of Statistics.

In the first three quarters, Shanghai’s per capita disposable income was approaching the 60,000 yuan (US$9,427) mark to reach 58,907 yuan, retaining its first place among all the provinces, autonomous regions and municipalities in China.

Along with their strong earning power, Shanghainese are also second to none in of spending: the city’s per capita consumption spending in the first three quarters hit 35,499 yuan.

Average per capita disposable income across the country was 26,265 yuan in the first three quarters, up 10.4 percent in nominal terms over the same period a year earlier. After adjusting for price factors, the real growth was 9.7 percent, basically in line with GDP growth.

Income from salaries was 14,917 yuan, indicating “wage income plays a key role as an anchor of the steady growth in people’s incomes.”

Per capita spending was 17,275 yuan, up 15.8 percent in nominal terms year on year, reversing last year’s 3.5 percent fall. Actual growth, after adjustment, was 15.1 percent.


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