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Personal incomes growing faster than GDP


08:38, January 21, 2013

Video: Personal incomes growing faster than GDP
According to the National Bureau of Statistics, the per capita disposable income of China’s urban residents increased 9.6 percent after being adjusted for inflation in 2012.

The growth was 1.2 percentage points more than in 2011. 2012 was also the first time that personal incomes were growing faster than the overall economy.

The National Bureau of Statistics released China’s Gini coefficient on Friday.

The index reflecting a nation’s rich-poor gap, reached 0.474 in 2012. The figure is higher than the warning level of 0.4 set by the United Nations.

Compared to its peak of 0.491 in 2008, the index has been retreating gradually over the past few years.

Ma Jiantang, Director of National Bureau of Statistics, said, "I don’t mean the income gap in China is not small. So far, the gap is still large. Urban households earn three times as much as rural ones, and higher-income groups earn four times as much as lower-income groups. The Gini coefficient has stayed at a relatively high level, indicating that China must accelerate its income distribution reforms to narrow the rich-poor gap."

Lots of efforts have been made to increase residents’ income, and the top priority is to raise rural residents’ income.

Under the support of relevant authorities, prices for agricultural products are increasing steadily.

In 2012, the per capita net income of rural residents was nearly 8-thousand yuan, a more than 10-percent rise compared to last year.

For urban residents, it was about 24-thousand yuan, a 9.6-percent rise.

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