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May 14, 2010

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Disposable incomes in city rise 10%

PER capita disposable income of Shanghai urban residents in the first quarter has increased by 10 percent year-on-year to 8,925 yuan (US$1,306), the Shanghai Statistics Bureau said yesterday.

Salaries, the main part of people's disposable income, averaged 6,217 yuan in the first quarter of 2010. That figure was also a 10 percent rise year-on-year.

Property income rose only 3.6 percent, to 122 yuan per capita.

Zhang Qi, an analyst of Haitong Securities Co, said the boosts in salaries helped stimulate consumer demand.

"This will help keep the economy in stable development," Zhang said.

Consumption expenditures were 5,822 yuan per capita in the first quarter, a 16.4 percent increase year-on-year.

Zhang said property income increased slowly because the stock market didn't have a good performance.


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