Chinese Residents' Income Soars in 1st Quarter

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Last updated at: (Beijing Time) Thursday, April 18, 2002

Chinese Residents' Income Soars in 1st Quarter

Chinese residents' income grew rapidly in the first quarter of this year, Qiu Xiaohua, deputy head of the National Bureau of Statistics (NBS) said in Beijing on Wednesday.

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Chinese residents' income grew rapidly in the first quarter of this year, Qiu Xiaohua, deputy head of the National Bureau of Statistics (NBS) said in Beijing on Wednesday.

The per-capita income of urban residents soared to 2,126 yuan, a leap of 16.2 percent on a year-on-year basis, Qiu told a press briefing at the State Council Information Office..

Qiu attributed the reason to the effects of a wage raise in many sectors last year.

Due to the increased sales of agricultural products, the per- capita income of rural residents grew by 7.2 percent to 682 yuan, Qiu said.

During the first three months of the year, the total savings deposits of both urban and rural residents had climbed 505.1 billion yuan (about 61.02 billion US dollars) from the beginning of the year to some 7.8728 trillion yuan (951.14 billion US dollars), said Qiu, adding that the figure was some 380 times that of the 1978 figure of 20.6 billion yuan (about 2.49 billion U.S. dollars).

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