China records 6.2% per capita income growth in 1Q24

In January-March, Chinese authorities recorded an increase in the country’s nominal disposable income per capita at 6.2% year-on-year, to 11,539 yuan ($1,624 at current exchange rates), according to the National Bureau of Statistics of the People’s Republic of China, Report informs.

According to the data published in the report, taking into account the price factor, the dynamics turned out to be the same and amounted to 6.2%. It follows from the document that in rural areas, the income of Chinese residents during this period increased by 7.6% (to 6,596 yuan, or $928), and for urban residents by 5.3% (to 15,150 yuan, or $2,133).

As specified in the document, if the price factor is taken into account, the growth of the corresponding indicator in agricultural areas was 7.7%, and in cities it was at the level of the nominal indicator (5.3%).