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Residents’ Income Grows in First Three Quarters

In the first nine months of the year, urban residents’ cash income in China grew 8.4 percent over the same period last year to 4,719 yuan.

Farmers’ disposable income reached 1,500 yuan during the period, up 2.5 percent, according to Ye Zhen, spokesman with the National Bureau of Statistics, at a press conference in Beijing Monday.

The first three quarters also witnessed a booming consuming market, with retail sales growing 9.9 percent to 2,433.6 billion yuan. Retail sales in urban areas rose 10.7 percent, higher than the 8.5 percent rise in rural areas, he said.

During the period, the consumer price index rose 0.2 percent, compared to the minus 1.6 percent growth in the same period of last year.

Prices of industrial products continue to grow partly due to oil price surge in the world market. In the third quarter, prices of industrial products grew four percent, a rise of 1.3 percentage points and three percentage points over those in the second and first quarter, respectively, Ye said.

(People’s Daily 10/16/2000)

Chinese Optimistic About Future Income Increase
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