Shanghai, Beijing, Zhejiang top 3 in disposable income

Shanghai, Beijing and Zhejiang province are top three regions in China in terms of residents' disposable income in the first quarter of this year, Time-Weekly.com reported on Sunday.

Shanghai ranks first with 23,489 yuan ($3,405) residents' disposable income in Q1, up 3.64 percent year-on-year, followed by Beijing and Zhejiang with 21,367 yuan and 20,158 yuan, respectively, in the same period.

They are the only three places with resident's disposable income surpassing 20,000 yuan in the first quarter. A total of 12 Chinese regions' disposable income surpassed 10,000 yuan in the same period.

China's per capita disposable income stood at 10,870 yuan ($1,580) in the first quarter of 2023, up 5.1 percent year-on-year in nominal terms, according to data from the National Bureau of Statistics.

The disposable income of eight regions -- Shanghai, Beijing, Zhejiang, Jiangsu, Tianjin, Guangdong, Fujian and Shandong – went above the national average in Q1.

Shaanxi witnessed the fastest growth of 6.19 percent to 8,306 yuan, surpassing Hebei and Guangxi to become top 20 nationwide.

As Chinese economy recovers, pockets of people all over China are bulging and the residents' disposable income in top 10 regions of the country reached nearly 160,000 yuan in Q1.