Beijingers Target Incomes of 20,000 Yuan by 2008

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Last updated at: (Beijing Time) Monday, May 20, 2002

Beijingers Target Incomes of 20,000 Yuan by 2008

Beijingers are expected to have much more disposable money in five years, according to a development plan for the Chinese capital.

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Beijingers are expected to have much more disposable money in five years, according to a development plan for the Chinese capital.

Beijing has set itself a target of an annual 6-percent increasein per capita income in the next five years, Monday's Beijing Youth Daily reports.

Calculated on this growth rate, the annual per capita income for urban residents in Beijing is expected to near 20,000 yuan by 2008 and for its farmers will be more than 8,000 yuan.

By 2008, urban Beijingers will use some 6,000 yuan of their total annual income of nearly 20,000 yuan to buy food, according to Engel's Coefficient calculations.

While making rapid economic progress in recent years, Beijing has also made great efforts to guarantee the income of retirees, raise low incomes and improve the lot of its needy citizens.

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