Chinese People's Disposable Income Surges 60 Times

Chinese residents saw their per capita disposable income surge by nearly 60 times during the past seven decades thanks to the country's steady economic expansion.

The per capita disposable income stood at about RMB 49.7 in 1949, and topped RMB 28,200 in 2018, registering a growth of over 59 times factoring in inflation, a report from the National Bureau of Statistics (NBS) showed.

The steady income growth also led to continuous increases in consumption spending. Chinese residents' per capita consumption spending surged from RMB 88.2 in 1956 to RMB 19,853 in 2018, growing 28.5 times in real terms, NBS data showed.

Source: Xinhua

Editor: Crystal Huang