Chinese urban residents' incomes rising faster than prices

0 Comment(s)Print E-mail Xinhua, July 30, 2012
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The disposable incomes of most urban Chinese citizens grew faster than the Consumer Price Index (CPI) in the first half of the year, according to statistics from 28 provincial-level administrative regions.

Among the country's 34 provincial-level administrative regions, 28 have released their data on the combined urban per capita disposable income in the January-June period, and all saw disposable income grow by at least 10 percent year on year, Beijing-based Jinghua Times reported Monday.

The same period witnessed a CPI increase of less than 5 percent in each of the 28 regions, said the newspaper.

A total of 17 provincial-level regions saw per capita income growth rates higher than or equal to the nationwide average of 13.3 percent, with the northwestern Ningxia Hui autonomous region vying for the quickest growth, at 14.4 percent.

China's average urban per capita disposable income totaled 12,509 yuan (1,961 U.S. dollars) in the first half, according to the National Bureau of Statistics. Seven provincial-level cities and regions came in above the national average, with Shanghai topping the list at 20,689 yuan.

Analysts said this year's upward adjustments on minimum wages and reduced tax burdens for small enterprises will continue to drive up residents' disposable incomes, though the effect will be limited.

The government vowed last week to step up structural tax reform in the second half for a more stabilized economy and a better life for the people. The reform includes expanding a pilot reform of replacing turnover tax with value-added tax to 10 more provinces and cities from Aug. 1.

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