Shanghai tops China's disposable income list

China's financial hub Shanghai outperformed other provincial-level regions in per capita disposable income last year, official data showed.

Average per capita disposable income in Shanghai reached about 59,000 yuan (9,316 US dollars) last year, the highest among China's 31 provincial-level regions, followed by Beijing and Zhejiang, according to the National Bureau of Statistics.

China's average per capita disposable income stood at 25,974 yuan last year, which rose 7.3 percent year on year, faster than GDP growth, NBS data showed.

A total of ten provincial-level regions including Jiangsu, Guangdong, Fujian, Liaoning and Inner Mongolia outperformed the national average.

Shanghai and Beijing also overtook their peers in purchasing power, with residents spending about 39,791 yuan and 37,425 yuan on average, respectively, last year.

Strong income growth and lifestyle changes in past years have helped China's consumer spending amid government efforts to shift the economy toward a growth model with more emphasis on consumption, the service sector and innovation.

(ASIA PACIFIC DAILY)