Shanghai Has China’s Highest Disposable Income Per Person in First Half
Zhang Yushuo
DATE:  Jul 20 2021
/ SOURCE:  Yicai
Shanghai Has China’s Highest Disposable Income Per Person in First Half Shanghai Has China’s Highest Disposable Income Per Person in First Half

(Yicai Global) July 20 -- Shanghai residents had the highest per capita disposable income among China’s 31 provinces, autonomous regions and centrally run municipalities in the first half of the year, according to the latest official figures.

In Shanghai, the average an individual had to spend or save after tax was CNY40,350 (USD6,220) in the six months ended June 30, data released by the National Bureau of Statistics showed yesterday, making the eastern metropolis the only place among the 31 to top CNY40,000 in the period.

Shanghai was also the nation’s biggest spender at a median CNY23,640 per person, while the national average reached CNY11,470, up 18 percent from a year earlier.

Residents of Beijing, China’s capital, had CNY38,140 each to spend or save at their discretion in the first half. Zhejiang and Jiangsu provinces took third and fourth place at CNY31,000 and CNY25,120, respectively.

Nationwide per capita disposable income grew almost 13 percent from a year ago to CNY17,640, with a third of the monitored locales exceeding the national average.

In Hubei province, whose capital Wuhan was at the epicenter of the novel coronavirus outbreak, the figure jumped 21 percent to CNY15,100 because of the year-earlier low base number due to the disease’s impact.

First-half disposable income increased for three reasons, according to Liu Aihua, a spokesperson for the NBS. First, the rapid economic recovery and the better jobs situation lifted salaries. Second, various regions raised pension standards and offered social relief and temporary support. Third, activity resumed amid measures aimed at preventing and controlling the virus.

Editor: Futura Costaglione

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Keywords:   disposable income,Shanghai