City tops disposable income list
By Cherry Cao |
00:46 UTC+8 July 30, 2012
|
Print Edition
Print Edition
SHANGHAI residents enjoy the highest average disposable income in a list of 27 provincial areas on Chinese mainland which have unveiled their first-half economic data.
Between January and June, the city's urban residents' average disposable income, excluding inflation factors, rose 8.6 percent year on year to 20,689 yuan (US$3,268).
It was followed by Zhejiang Province's 18,802 yuan and Beijing's 18,154 yuan.
All provinces and municipalities excluding Shanghai registered double-digit annual growth in urban residents' disposable income, with the Ningxia Hui Autonomous Region seeing the fastest gain of 14.4 percent.
The growth of urban residents' disposable income in the 27 regions all outstripped that of the consumer price index. Xinjiang Uygur Autonomous Region recorded the fastest CPI growth, or 4.2 percent, in the first half.
Increases in the monthly minimum wage across the country, coupled with a series of the central government's tax-cutting measures aimed at benefiting smaller enterprises, contributed to the increase in urban residents' disposable income in the first half of the year, Jia Kang, head of a Ministry of Finance research unit, told www.china.com.
So far this year as of June, 16 municipalities and provinces in China had raised monthly minimum wages by an average of 19.7 percent, according to the Ministry of Human Resources and Social Security.
Shenzhen in the southern Guangdong Province tops all with a minimum wage of 1,500 yuan per month compared to Shanghai's 1,450 yuan and Beijing's 1,260 yuan.
Across China, the disposable income of urban residents rose 13.3 percent year on year to 12,509 yuan in the first six months, according to data released earlier by the National Bureau of Statistics.
Between January and June, the city's urban residents' average disposable income, excluding inflation factors, rose 8.6 percent year on year to 20,689 yuan (US$3,268).
It was followed by Zhejiang Province's 18,802 yuan and Beijing's 18,154 yuan.
All provinces and municipalities excluding Shanghai registered double-digit annual growth in urban residents' disposable income, with the Ningxia Hui Autonomous Region seeing the fastest gain of 14.4 percent.
The growth of urban residents' disposable income in the 27 regions all outstripped that of the consumer price index. Xinjiang Uygur Autonomous Region recorded the fastest CPI growth, or 4.2 percent, in the first half.
Increases in the monthly minimum wage across the country, coupled with a series of the central government's tax-cutting measures aimed at benefiting smaller enterprises, contributed to the increase in urban residents' disposable income in the first half of the year, Jia Kang, head of a Ministry of Finance research unit, told www.china.com.
So far this year as of June, 16 municipalities and provinces in China had raised monthly minimum wages by an average of 19.7 percent, according to the Ministry of Human Resources and Social Security.
Shenzhen in the southern Guangdong Province tops all with a minimum wage of 1,500 yuan per month compared to Shanghai's 1,450 yuan and Beijing's 1,260 yuan.
Across China, the disposable income of urban residents rose 13.3 percent year on year to 12,509 yuan in the first six months, according to data released earlier by the National Bureau of Statistics.
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