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Disposable income rises 10%

DISPOSABLE income for Shanghai urban residents in the first quarter has increased by 10 percent annually to 8,925 yuan (US$1,307) each, Shanghai Statistics Bureau announced today.

The rate was four percentage points higher than the same period last year.

Per capita salary income of the first quarter was 6,217 yuan, maintaining the same growth as disposable income.

Income from property, movable and fixed assets rose by the slowest rate of 3.6 percent to 122 yuan in the first quarter.

Zhang Qi, an analyst with Haitong Securities Co, said salary was the major income for most residents. Since the city's monthly minimum wage was lifted from 960 yuan to 1,120 yuan, consumer demand will be stimulated.


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