The target of doubling per capita income from 2010 to 2020 will be met on schedule

Data released by the National Bureau of Statistics of the People's Republic of China on the 18th showed that in 2020, the per capita income of the country's residents was 32,189 disposable income, up 2.1% in real terms after adjusting for prices. The target of doubling the per capita income of urban and rural residents in 2010 will be achieved on schedule. It is worth mentioning that in 2020, the per capita GDP exceeded us $10,000 for two consecutive years, placing it firmly in the ranks of upper middle-income countries and narrowing the development gap with high-income countries. "The growth of residents' income has basically kept pace with economic growth, and the ratio of per capita income between urban and rural residents has continued to shrink, " said Ning Jizhe, director of the National Bureau of Statistics of the People's Republic of China, at a press conference held by the state news agency. For the whole year, the average per capita disposable income was 32,189 yuan, up 4.7 percent in nominal terms over the previous year and 2.1 percent in real terms after adjusting for price. By Place of permanent residence, the disposable income was 43,834 yuan, up 3.5% in nominal terms over the previous year and 1.2% in real terms after adjusting for prices; the per capita income of rural residents was 17,131 yuan disposable income, up 6.9% in nominal terms over the previous year, real price-adjusted growth of 3.8% . The income gap between urban and rural areas and different groups has improved. According to Ning Jizhe, the disposable income per capita is 2.56,0.08 smaller than the previous year. The income of residents in the western region increased faster than that in the eastern region. The eastern region grew by 4.6 percent last year, the western region by 6 percent, and the income gap between the eastern and western regions narrowed. By source of income, the average per capita wage and sex income of Chinese residents was 17,917 yuan in 2020, up 4.3 percent and accounting for 55.7 percent of the disposable income; the average per capita net operating income was 5,307 yuan, up 1.1 percent and accounting for 16.5 percent of the disposable income; Per capita net income from property was 2,791 yuan, up 6.6 percent, accounting for 8.7 percent of disposable income; per capita net income from transfers was 6,173 yuan, up 8.7 percent, accounting for 19.2 percent of disposable income. "The growth of household income has been better than expected and has basically kept pace with economic growth, " Ning Jizhe said, adding that household income growth has several characteristics. Second, the policy of protecting employment has promoted the recovery of wage income. Third, the main market led by the operating net income from the decline to increase. Moreover, "in 2020, per capita GDP will exceed $10,000 for the second year in a row, making it one of the top middle-income countries, " Ning Jizhe said. From just a few tens of dollars of GDP per capita in 1949 to more than $10,000 for two years in a row, experts say, China is firmly in the upper middle income bracket and moving toward higher income. Tang Jianwei, chief researcher of the Bank of Communications Financial Research Center, said China's goal of doubling the per capita income of urban and rural residents in 2010 is on schedule. However, he also pointed out that to recognize that China is still the world's largest developing country, per capita GDP is still slightly below the world average. The 2021's dividend increase for more residents will be accelerated. The next step, Ning Jizhe said, is to consolidate the basis of income growth for urban and rural residents, deepen the reform of the income distribution system, and push the income gap to continue to narrow. Earlier, Ning Jizhe revealed that the 2021 would study and formulate an implementation plan to expand the middle income group.