By love-89.com In the first three quarters of this year, under the robust leadership of the Central Committee of the Communist Party of China, with Xi Jinping at the core, various regions and departments have earnestly implemented the decisions made by the Central Committee and the State Council. As a result, the national economy has maintained overall stability, with both resident income and consumer spending showing steady growth.
First, we observe a stable increase in national resident income, with rural residents experiencing faster growth compared to their urban counterparts. The per capita disposable income for residents nationwide reached 30,941 yuan, marking a nominal increase of 5.2% from the previous year, and a real increase of 4.9% after adjusting for price factors. In urban areas, the per capita disposable income was 41,183 yuan, reflecting a nominal increase of 4.5% and a real increase of 4.2%. Meanwhile, rural residents enjoyed a per capita disposable income of 16,740 yuan—a nominal increase of 6.6% and a real increase of 6.3%. This means that rural residents’ nominal and real income growth outpaced urban residents by 2.1 percentage points. The income ratio between urban and rural residents stood at 2.46, a slight decrease of 0.05 compared to the same period last year, indicating a continued narrowing of the income gap.
The primary drivers of this stable income growth include increases in wage income and net operating profits. Throughout the first three quarters, industrial production remained stable and the service sector continued its recovery, with overall employment conditions for residents stabilizing. The average wage income for residents reached 17,696 yuan, up by 5.7% year on year. For urban and rural residents, wage income grew by 4.9% and 6.8%, respectively. According to national surveys on migrant workers, by the end of the third quarter, the number of rural laborers working outside their hometowns increased by 1.3% year on year, with average monthly income rising by 3.3%. Notably, those working within their counties saw a 3.3% growth in numbers and a 3.0% rise in monthly income. Consumer demand during holidays and summer travel surged, contributing to positive trends in retail, hospitality, and cultural sectors, leading to a net operating income of 4,939 yuan per resident, reflecting a 6.4% increase—1.2 percentage points higher than the overall increase in disposable income. Urban and rural residents reported respective growths of 6.6% and 6.0% in their net operating income, with rural areas benefiting particularly from the active rural tourism market, witnessing a significant 11.4% increase in net income from the tertiary sector.
Furthermore, net transfer income and net property income have continued to grow. With various livelihood support policies in place, the per capita net transfer income reached 5,721 yuan, an increase of 4.9%. Urban residents saw a 3.8% rise in net transfer income, whereas rural residents experienced a 6.9% increase. The growth in pension income, driven by an increase in pensioners and adjustments to basic pension standards, rose by 8.1% compared to the previous year. Per capita net property income was reported at 2,585 yuan, a nominal growth of 1.2%.
Secondly, consumer spending remains stable, with an increasing share of spending directed toward services. The average per capita consumption expenditure for residents hit 20,631 yuan, an increase of 5.6% year on year, equating to a real growth of 5.3% after accounting for price changes. Notably, consumer spending growth outpaced income growth by 0.4 percentage points, with an overall national consumption rate of 66.7%, an increase of 0.3 percentage points from last year. Urban residents spent an average of 25,530 yuan, a nominal increase of 5.0%, whereas rural residents’ expenditure reached 13,839 yuan, reflecting a 6.5% nominal growth.
Analyzing the structure of consumer spending, expenditures on food, tobacco, and alcohol, transportation and communication, education and cultural activities, as well as other goods and services have all seen rapid increases. The vibrant demand for travel and dining during holidays and summer led to a 7.1% increase in food and beverage spending, while dining services surged by 14.4%. The cultural and tourism markets thrived, driving significant growth in related expenses such as transportation (10.0% increase) and education and cultural activities (10.1% increase), with entertainment expenses growing by 16.3%. In terms of other goods and services, spending increased by 10.9%. Additionally, clothing, housing, and medical expenses rose by 5.1%, 1.0%, and 3.5%, respectively, though expenditures on daily necessities saw a minor decline of 0.3%.
The data also shows that service-related consumer spending is on the rise, accounting for a growing proportion of overall consumption. In the first three quarters, as service consumption scenarios expanded, total service-related expenditures per capita reached 9,694 yuan, a year-on-year increase of 7.6%, which outpaces overall consumption growth by 2.0 percentage points. Service-related spending now comprises 47.0% of total consumption, up by 0.9 percentage points from the previous year.
However, it is essential to recognize that residents still face certain pressures regarding income growth, and there remains room to enhance both consumption capacity and willingness. Moving forward, it is critical to sustain efforts to stabilize employment, bolster income growth measures, and ensure the effective implementation of a comprehensive set of policies aimed at boosting income and consumption for residents.