China's resident disposable income expands faster than economy

BEIJING - China's per capita disposable income stood at 15,294 yuan ($2,227) in the first half of 2019, up 8.8 percent year-on-year in nominal terms, official data showed Monday.

The inflation-adjusted growth was 6.5 percent, 0.2 percentage points higher than the 6.3-percent growth rate for the Chinese economy from January to June, according to a statement of the National Bureau of Statistics (NBS).

During the period, the per capita disposable income in rural areas continued to grow faster than that in urban regions, indicating the closing of the urban-rural income gap, according to NBS data.

The average per capita disposable income for rural residents reached 7,778 yuan from January to June, up 6.6 percent after deducting price factors, while that of urban residents rose 5.7 percent in real terms to 21,342 yuan.

China aims to double the per capita income of its urban and rural residents by 2020 from the 2010 levels, to build a moderately prosperous society.