Beijing's per capita disposable income reaches US$9,284 in 2018

0 Comment(s)Print E-mail China.org.cn, March 21, 2019
Adjust font size:

The per capita disposable income of Beijing residents grew by 6.3 percent last year to over 62,000 yuan (about US$9,284), according to figures released by the Beijing Municipal Bureau of Statistics on Wednesday.

In 2018, the city's economy maintained a stable growth. Its GDP reached 3.03 trillion yuan, an increase of 6.6 percent year-on-year, and the per capita GDP in the city reached 140,000 yuan, up from 129,000 yuan in 2017.

The city revenue also increased steadily. Last year, Beijing's government revenues reached 578.59 billion yuan, up by 6.5 percent year-on-year.

On employment, 423,000 new jobs were added in the urban areas, and the surveyed urban unemployment rate in each quarter of 2018 stayed within 4 percent.

Consumer prices grew mildly. CPI growth in each month last year remained below 2.5 percent, and the annual growth averaged at 2.5 percent. 

Service sector drives consumption

The service sector has become the main driver of consumption growth. In 2018, consumption in service grew by 11.8 percent year-on-year to 1,365.82 billion yuan, 9.1 percentage points higher than the total retail sales of consumer goods. The service consumption in the city also accounted for 53.8 percent of the total market consumption, contributing to 82.6 percent of consumption growth.

According to the newly released figures, the added value of Beijing's service industry increased by 7.3 percent, which is 0.7 percentage points higher than the growth of the city's GDP, contributing to as much as 87.9 percent of economic development.

Service consumption per capita in Beijing reached 21,886 yuan, up by 11.4 percent, accounting for 54.9 percent of the per capita consumption expenditure.

New business forms gathering momentum

New industries, new business forms, and new business models in Beijing also continued their strong momentum last year.

Flourishing industries like finance, technology, and information accounted for over 40 percent of the city's GDP, and contributed to almost 70 percent of the city's economy.

A total of 70,661 companies in information service and technology service sectors were registered last year, accounting for 38.5 percent of all newly registered businesses in the city. The registered capital of those new businesses totaled 731.14 billion yuan, up by 13.5 percent year-on-year.

Statistics also shows that the number of patent registration for every 10,000 citizens in Beijing increased to 111.2, up by 16.6 year-on-year; the value of all technology contracts signed last year grew by 10.5 percent over 2017; hi-tech companies in the Zhongguancun Science Park registered a technology revenue of 1.06 trillion yuan, up by 13.4 percent, accounting for 18.1 percent of their total revenue and 1.8 percentage points higher than 2017.

The added value of new business forms reached over 1 trillion yuan last year, up by 9.3 percent year-on-year. New business forms accounted for 33.2 percent of the city's total GDP, up by 0.4 percentage points year-on-year.

Improved livelihood

Last year, subsistence allowances for urban residents rose by 100 yuan, the lowest standard for unemployment insurance benefit rose by 244 yuan, and the minimum wage standard also rose by 120 yuan. The number of people who are newly subscribed for basic old-age pension, basic medical insurance, unemployment insurance, work-related injury insurance, and maternity insurance during the year reached 772,000, 597,000, 705,000, 691,000, and 688,000, respectively.

Beijing also stepped up construction of subsidized housing. Fixed-asset investment for subsidized housing grew by 44.1 percent, and the total floor space of new subsidized housing construction accounted for 45.2 percent of all newly started commodity housing projects.

On air quality, the average level of Beijing's PM2.5 concentration dropped 12.1 percent last year, and the concentration of nitrogen dioxide and sulfur dioxide dropped 8.7 percent and 25 percent, respectively.

Under the new round of the citywide afforestation efforts, the output value of forestry grew by 61.7 percent year-on-year, accounting for 32.1 percent of the total output value of agriculture, forestry, animal husbandry, and fishery, up by 13 percentage points over 2017.

At the same time, the city's forest coverage rate reached 43.5 percent last year, up by 0.5 percentage points over 2017; green space covered 48.44 percent of the urban area, up by 0.02 percentage points; per capita green land in parks reached 16.3 square meters, up by 0.1 square meters; the rate of urban domestic sewage disposal reached 94 percent, up by 1.6 percentage points over 2017; the rate of domestic waste bio-safety disposal was 99.94 percent, up by 0.06 percentage points.

Follow China.org.cn on Twitter and Facebook to join the conversation.
ChinaNews App Download
Print E-mail Bookmark and Share

Go to Forum >>0 Comment(s)

No comments.

Add your comments...

  • User Name Required
  • Your Comment
  • Enter the words you see:    
    Racist, abusive and off-topic comments may be removed by the moderator.
Send your storiesGet more from China.org.cnMobileRSSNewsletter