The incomes of China's urban residents have risen every year since the founding of the People's Republic of China (PRC), according to a report released by the National Bureau of Statistics of China (NBS) on September 10. In 2008, the average per capita disposable income of China's urban residents reached 15,781 yuan, 157.6 times that of 1949 or 18.5 times after deducting price factors.
The incomes of rural residents have also increased, with almost 108-fold nominal growth since the founding of the PRC. The average per capita net income of rural residents reached 4,761 yuan in 2008, 107.7 times that of 1949 or an average annual growth rate of 8.3 percent.
Along with the growth in income, China's consumption structure has also changed significantly. Since reform and opening-up, the Engel's coefficient of China's urban and rural residents has dropped markedly. In 2008, the Engel's coefficient of China's rural residents stood at 43.7 percent, down 24 percentage points from that of 1978; that of China's urban residents stood at 37.9 percent, down 19.6 percentage points from that of 1978.
By People's Daily Online
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