Average Income Growth Outpaces GDP for First Three Quarters

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Growth in average Chinese incomes has seen an acceleration for the first three quarters of 2017, while also beating out GDP growth for the same period.

Data from the National Bureau of Statistics indicates that China’s average disposable income for the first three quarters of the year was 19,342 yuan, for a nominal increase of 9.1% compared to the same period last year, and a real increase of 7.5% once inflation is taken into account.

This means that real disposable income growth beat out GDP growth of 6.9% for the first three quarters of 2017.

According to NBS once natural population growth is taken into account, China’s per capita GDP growth for the first three quarters was 6.3%.

Real disposable income growth also accelerated by 1.2 percentage points compared to the same period last year, and 0.2 percentage points compared to the first half.

Average salary income for the first three quarters was 11,019 yuan, for nominal growth of 8.8% compared to the same period last year, and a growth acceleration of 0.9 percentage points.

Average net asset income saw strong accelerated growth for the first three quarters, rising 10.4% to reach 1569 yuan, 2.2 percentage points ahead of growth for the same period in 2016.

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