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Wenzhou’s Per Capita Disposable Income of Urban Residents Reaches 54,659 Yuan in the First Three Quarters
Date:2021-11-09 08:33:25 Source:Wenzhou·China Fonts:[ Large Medium Small ]

Driven by GDP, Wenzhou’s per capita disposable income continued to maintain the momentum of sound recovering growth in the first three quarters of the year. On November 2, the National Bureau of Statistics Wenzhou Survey Team released data showing that in the first three quarters of 2021, Wenzhou’s per capita disposable income was 46,610 yuan, an increase of 5,198 yuan over the same period of the previous year, with a nominal growth rate of 12.6%, an increase of 8.3 percentage points over the same period of the previous year, ranking 4th in the province. Excluding the price factor, its real growth rate was 11%, a growth rate increased by 9 percentage points compared with the same period last year, and its two-year average growth was 6.4%.

By place of permanent residence, the per capita disposable income of urban residents was 54,659 yuan, up 12.3% year on year in nominal terms, ranking 1st in the province in terms of growth rate, and its two-year average growth rate was 7.8%. Excluding price factors, its real growth rate was 10.7%. The per capita disposable income of rural residents was 27,919 yuan, a nominal increase of 11.6% year on year and a two-year average growth rate of 8.8%. Excluding the price factor, its real growth was 10.1%.

Wage income is an important cornerstone driving the growth of residents’ income. Thanks to the economic recovery and demand pull in the city, the employment situation was generally stable in the first three quarters, and citizen’s wages had a fast growth. In the first three quarters, urban residents’ per capita wage income in Wenzhou was 28,465 yuan, up 14.9% year on year, accounting for 52.1% of disposable income. Rural residents’ per capita wage income was 16,558 yuan, up 13.4% year on year, accounting for 59.3% of disposable income.

According to the analysis of the National Bureau of Statistics Wenzhou Survey Team, the city’s minimum wage standard was adjusted in August, which increased by an average of 13.1%  at three levels. Under the combined effect of economic and policy factors, residents’ wage income grew steadily and rapidly, constantly consolidating its role as the “ballast” of economy.

In the first three quarters, net operating income continued to recover. While endeavoring to build the “Two Healthy” (healthy development of the non-public economy and healthy growth of entrepreneurs in the non-public economy) pilot zone, Wenzhou constantly optimizes the business environment, stirring the public enthusiasm for entrepreneurship. So far this year, the city has more than 110,000 new market entities, which give strong support for employment and residents’ income growth. In this year’s “Implementation Opinions on Further Deepening the Reform of Reducing Enterprise Burden and Cost”, there are 45 preferential policies for enterprises to reduce the burden and release the vitality. In addition, the “Two Belts and One Park” under construction offers a platform for farmers to start their own businesses and create wealth, driving the rapid development of new industries and new business models represented by leisure agriculture, rural lodging, farm catering and forest recreation, and effectively stimulating the vitality of rural residents’ net business income. According to the data, the net business income of urban residents in the city was 10,164 yuan, an increase of 13.2% year on year, accounting for 18.6% of disposable income; the net business income of rural residents was 6,820 yuan, an increase of 10.7% year on year, accounting for 24.4% of disposable income.

The supplemented residents’ incomes from housing rent, dividend and the like further expand income channels so that more residents witness their income growth brought about by property accumulation effect and more of them have the opportunity to step into the ranks of middle-income groups. In the first three quarters, the city’s urban residents’ net property income was 8,846 yuan, up 6.4% year on year, accounting for 16.2% of disposable income; rural residents’ net property income was 1,330 yuan, up 6.7% year on year, accounting for 4.8% of disposable income.

Affected by the epidemic, overseas Wenzhouese businessmen, especially the overseas Chinese of Wenzhou nationality, had less income and returned to Wenzhou less frequently than in previous years. Meanwhile, they sent back significantly less income and support income so that the net transfer income no longer grew the fastest this year. In the first three quarters, urban residents’ net transfer income in the city was 7,184 yuan, up 8.3% year on year, with a growth rate 1.1 percentage points lower than the same period last year, accounting for 13.1% of disposable income. Rural residents net transfer income was 3,212 yuan, up 7.4% year on year, with the growth rate 3.5 percentage points lower than the same period last year, accounting for 11.5% of disposable income.

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