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SZers earn more disposable income

2016-April-27       Source: Szdaily.com

The latest data revealed by the Shenzhen survey group of the National Statistics Bureau shows that the average disposable income of Shenzhen residents was 44,633 yuan (US$6,868) in 2015.

The latest data revealed by the Shenzhen survey group of the National Statistics Bureau shows that the average disposable income of Shenzhen residents was 44,633 yuan (US$6,868) in 2015.

The amount grew by 9 percent, with its growth rate dropping to 6.7 percent when taking price factors into account, compared with the year before. The growth rate of Shenzhen residents’ disposable income last year was higher than the national and provincial levels.

In terms of expenditure, the expense of daily consumption for each Shenzhen resident on average was 32,359 yuan last year, with an increase of 12.2 percent. The expenditure on living goods and services also increased by 24.7 and 18.8 percent respectively.

Among the four sub-items of disposable income, wage income, business income, and property income have increased.

According to the data, Shenzhen residents earned 37,670 yuan on average in wages, accounting for 84.4 percent of the disposable revenue. Shenzhen residents were earning more last year than the year before, with an increase of 8.9 percent.

A person from the Shenzhen survey group said that the adjustment of the local standard on minimum wages, the increase of income for employees working in the public sectors and the competitiveness of the labor market contributed to the increased wages.

Another figure shows that Shenzhen residents earned 5,213.92 yuan on average in terms of business income.

The Shenzhen survey group explained that the encouraging atmosphere of starting a new business had boosted people’s enthusiasm to do business, but the gloomy economy both in Chinese and overseas markets was a setback for many households.

Moreover, the rising housing prices in Shenzhen benefited those who own property in the city. Data shows that the property revenue for each Shenzhen resident on average was 4,163.95 yuan in 2015, up by 13.5 percent.

According to the Shenzhen survey group, on average Shenzhen residents transferred 2,414.97 yuan out of Shenzhen last year. Most people in the city come from elsewhere originally. There are fewer retired pensioners in Shenzhen than in other cities in China.

Editor: Chan

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