China's per capita disposable income rises by 5.4 percent in H1

(MENAFN) China's per capita disposable income reached 20,733 yuan (approximately 2,907.32 U.S. dollars) in the first half of 2024, reflecting a nominal year-on-year increase of 5.4 percent, according to data released by the National Bureau of Statistics (NBS) on Monday. This growth indicates a positive trend in the country's income levels.

When broken down by urban and rural areas, urban per capita disposable income was reported at 27,561 yuan, representing a 4.6 percent increase. In contrast, per capita income in rural areas was higher, standing at 11,272 yuan, which reflects a more substantial growth of 6.8 percent. This divergence highlights the ongoing efforts to bridge the income gap between urban and rural populations.

Examining the sources of income, per capita income from wages increased by 5.8 percent, net income from operations grew by 6.4 percent, and net income from property saw a modest rise of 2.1 percent, all measured in nominal terms. This suggests that wage growth and operational income are significant contributors to overall income increases.

Furthermore, the median nationwide per capita disposable income was reported at 17,358 yuan, which indicates a nominal growth of 5.9 percent year on year. This data points to a broader improvement in the economic well-being of Chinese citizens.

In addition to income statistics, the NBS reported that China’s gross domestic product (GDP) grew by 5 percent year on year in the first half of the year, signaling a robust economic performance despite various challenges.

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