Shanghai incomes rise by 11.2% despite slowdown
By Wang Yanlin |
November 20, 2012, Tuesday
|
Print Edition
Print Edition
SHANGHAI topped the urban income ranking among 28 provinces and municipalities that have posted third-quarter economic growth, even though the city's economy expanded at the slowest pace, according to the latest data.
Disposable income for urban residents in Shanghai rose 11.2 percent from a year earlier to 30,205 yuan (US$4,841) in the first three quarters. The only city where people earned more than 30,000 yuan in the first nine months, Shanghai was followed by Beijing (26,948 yuan) and Zhejiang Province (26,682 yuan).
"Shanghai wins by a big margin," said Sun Lijian, an economics professor at Fudan University. "It reflects achievements in industrial upgrading which keeps better-paid service industry jobs in the city."
Sun added: "Shanghai remains a magnet for professionals and other well-educated people as an international city, and Shanghai may continue to provide jobs with good salaries if it can steadily go ahead along the path of developing the value-added service sector."
But the city's disposable income grew slower than the national average of 13 percent, and lagged behind Gansu Province, which claimed the title of the fastest growth with a rate of 14.7 percent.
Shanghai's economic output expanded 7.4 percent in the first three quarters, weaker than China's average of 7.7 percent and the least among the 28 provinces and municipalities.
Economists attributed the slower growth in Shanghai to industrial restructuring and a much larger base.
Shanghai produced 4.1 percent of China's total output by the end of September while the city's land area is only 0.06 percent of the national total.
The double-digit growth of disposable income in China surprised some people.
"I have not had a wage increase for years. It is amazing to read news like this," said Eric Zhang, an accountant for a company in the city.
And there were many people who said it was still difficult to make ends meet, considering fast-growing inflation and sky-high property prices in major cities such as Shanghai and Beijing.
Earlier this year, talk show host Cui Yongyuan said on his microblog that his 10,000 yuan monthly salary was not enough to give him a good living in Beijing.
The post triggered a national discussion on how much one should earn to obtain a decent life in China, with most online respondents seeming to be dissatisfied with their current income.
Disposable income for urban residents in Shanghai rose 11.2 percent from a year earlier to 30,205 yuan (US$4,841) in the first three quarters. The only city where people earned more than 30,000 yuan in the first nine months, Shanghai was followed by Beijing (26,948 yuan) and Zhejiang Province (26,682 yuan).
"Shanghai wins by a big margin," said Sun Lijian, an economics professor at Fudan University. "It reflects achievements in industrial upgrading which keeps better-paid service industry jobs in the city."
Sun added: "Shanghai remains a magnet for professionals and other well-educated people as an international city, and Shanghai may continue to provide jobs with good salaries if it can steadily go ahead along the path of developing the value-added service sector."
But the city's disposable income grew slower than the national average of 13 percent, and lagged behind Gansu Province, which claimed the title of the fastest growth with a rate of 14.7 percent.
Shanghai's economic output expanded 7.4 percent in the first three quarters, weaker than China's average of 7.7 percent and the least among the 28 provinces and municipalities.
Economists attributed the slower growth in Shanghai to industrial restructuring and a much larger base.
Shanghai produced 4.1 percent of China's total output by the end of September while the city's land area is only 0.06 percent of the national total.
The double-digit growth of disposable income in China surprised some people.
"I have not had a wage increase for years. It is amazing to read news like this," said Eric Zhang, an accountant for a company in the city.
And there were many people who said it was still difficult to make ends meet, considering fast-growing inflation and sky-high property prices in major cities such as Shanghai and Beijing.
Earlier this year, talk show host Cui Yongyuan said on his microblog that his 10,000 yuan monthly salary was not enough to give him a good living in Beijing.
The post triggered a national discussion on how much one should earn to obtain a decent life in China, with most online respondents seeming to be dissatisfied with their current income.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
