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Annual disposable income stands at ¥72,718

Writer:   |  Editor: Zhang Chanwen  |  From: Shenzhen Daily  |  Updated: 2023-02-16

Shenzhen residents’ per capita annual disposable income reached 72,718 yuan (US$10,622.75) in 2022, up 2.6% year on year, after deducting the price factor, according to data released by the Shenzhen survey team of the National Bureau of Statistics (NBS) on Monday.

According to the source of income, disposable income is composed of four major items – the per capita salary income, the net per capita operating income, the net per capita property income and the net per capita transfer income.

In 2022, Shenzhen residents’ per capita salary income was 61,157 yuan, a nominal increase of 3.5% year on year.

The net per capita property income stood at 6,761 yuan, an increase of 0.2%, while the net per capita transfer income was -2,189 yuan.

Consumer spending on the eight major consumption categories, including catering, medical services and culture and recreation, went down by 3.2% year on year in 2022 due to the epidemic, as residents went out less.

The Engel coefficient reached 29.7% in 2022, up 0.1 percentage point than the previous year. Engel’s Law states that the percentage of income allocated for food purchases decreases as a household’s income rises, while the percentage spent on other things, such as education and recreation, increases. The Engel coefficient, based on Engel’s Law, is a commonly used measure of the standard of living.

Shanghai and Beijing led per capita disposable income nationwide at 79,610 yuan and 77,415 yuan, respectively in 2022, while Guangdong Province’s figure stood at 47,065 yuan.