Residents of Shanghai have the highest disposable incomes in China, but the income gap between urban and rural and eastern and western China remains.
With disposable income in Shanghai reaching 47,710 yuan (US$7,611), the city has passed Beijing to rank number 1 in the country. Zhejiang follows Beijing to rank in 3rd place. All three cities had at least 40,000 yuan of disposable income per capita and each had a growth rate of around 8.9 percent over the year earlier, reports China Daily.
Western China’s Gansu province came in last place with only 20,804 yuan in disposable income per capita.
According to data from the National Bureau of Statistics, disposable income in urban China increased 6.8 percent year-on-year to reach 28,844 yuan per capita, almost tripling the growth rates in rural areas.
Growth targets for income have been lowered in 26 provincial regions, primarily in western China.
Sichuan and Gansu have cut their targeted growth by 4 percent, and Shaanxi, Inner Mongolia, and Guangxi Zhuang have cut their targets by 3 percent.
image credit: mike behnken