(MENAFN) According to data released by the National Bureau of Statistics on Tuesday, China's per capita disposable income witnessed a notable increase in the first quarter of the year, reaching 11,539 yuan, equivalent to approximately 1,624.57 U.S. dollars. This figure represents a 6.2 percent year-on-year growth in nominal terms, reflecting positive economic trends during the period under review.
Further analysis of the data reveals disparities between urban and rural income levels. Urban per capita disposable income recorded a rise of 5.3 percent, reaching 15,150 yuan, while rural areas saw a more significant increase of 7.6 percent, with per capita income reaching 6,596 yuan. These figures indicate varying rates of income growth between urban and rural populations, highlighting ongoing efforts to address income inequality and promote equitable economic development across different regions.
In addition to income growth, Tuesday's data also confirmed China's steady economic performance, with gross domestic product (GDP) expanding by 5.3 percent year on year in the first quarter of the year. This growth underscores the resilience and stability of China's economy despite global challenges and domestic reforms. Overall, the data reflects positive momentum in income growth and economic stability, signaling continued progress in China's socio-economic development efforts.
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