2024-09-22 09:14:29
The income of Chinese residents has seen a leap in the past 75 years, rising from 49.7 yuan (about US$7) in 1949 to 39,218 yuan in 2023, Radio China reported, citing a report by The National Bureau of Statistics.
Adjusted for inflation, the incomes of Chinese residents grew by an average of 6% per year, resulting in a staggering increase of 75.8 times in real terms.
In 2020, China realized its goal of eradicating absolute poverty throughout the country, effective for the global cause of poverty reduction.
The per capita disposable income of rural residents who have been lifted out of poverty continues to grow, increasing from 12,588 yuan in 2020 to 16,396 yuan in 2023, with an average annual growth rate of 8.2 % , according to the report.
The income gap between urban and rural areas, as well as between your regions, has continued to widen over the past 75 years.
Rural income growth has continued to outpace that of urban residents since 2012. The disposable income of the rural population reached 21,691 yuan in 2023, representing an average annual growth rate of 7%. The growth rate is 1.8 percentage points higher than that of urban residents.
Resident consumption has also increased. In 2023, per capita consumer spending reached the next 26,796 yuan, a 35.5-fold increase in real terms compared with 1956, adjusted for inflation.
The potential for need for services is increased. In 2023, the per capita expenditure on services by Chinese residents will reach 12,114 yuan, accounting for 45.2% of the per capita consumption expenditure, an increase of 5.5 percentage points over 2013, it is further revealed from the report.