A glimpse of China with Sue: Continued increase in resident income and consumption in 2023

Welcome to the video series “A Glimpse of China with Sue”! This time, let’s check out the increase in Chinese resident income and consumption in the past year.

In 2023, resident income saw a steady growth in China, with a per capita disposable income of 39,218 yuan. That was an increase of 6.3 percent over that of 2022, or a real increase of 6.1 percent after deducting price factors. In addition, the median per capita disposable income nationwide was 33,036 yuan, up 5.3 percent from 2022.

With the increase in income, there was also an increase in per capita consumption expenditure. In 2023, this figure went up 9.2 percent, or a real increase of 9.0 percent after deducting price factors, reaching 26,796 yuan.

The per capita consumption expenditure on services went up 14.4 percent, accounting for 45.2 percent of the per capita consumption expenditure, 2.0 percentage points higher than that of the previous year. This shows that the Chinese economy has regained vitality in the post-COVID period.