## Ningbo residents incomes grow by 70% in 5 years

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- Category: On The Campus
- Published: Monday, 06 February 2012 09:54

Statistics show that in 2006, Ningbo had 8.8 cars per 100 urban households, whereas in 2011 the figure has reached 33.2 or one car for every three urban households.

Statistics from Ningbo Survey Team of National Bureau of Statistics show, in 2011, urban dwellers'per capita disposable income reached 34,058 yuan, up 12.9% on the year-on-year base. The rise of disposable income led to a rising consumption demand and capacity. Meanwhile, the per capita consumption expenditure of urban dwellers reached 21,779 yuan, up 12.1% year on year.

In contrast, in 2006, the per capita disposable income of urban dwellers stood at 19,694 yuan and the per capita consumption expenditure at 12,666 yuan. These statistics prove since 2006, both disposable income and consumption expenditure of urban residents have increased by 70%, reflecting a stable rising of living standard.

Generally, incomes of Ningbo urban residents consist of the following: wage income, which accounts for more than 60% of the total, income from operations, property income, including rent, interest, etc. and transfer income such as pensions, cash gifts and support for the elderly, etc. Last year, wage income saw a relative rapid increase, amounting to 7,422 yuan, a rise of 10,000 yuan more than the 15,000 yuan in 2006.

As expected, car ownership increases with income. According to the traffic department, car ownership in Ningbo hit 1,064,600 in 2011. Other high-end products and durables also became affordable for ordinary families. In 2006, the per capita expenditure on household appliances and services for urban residents was 787 yuan, while in 2011 this figure rose to 1181 yuan.

Statistics show that in 2011, urban dwellers' per capita expenditures on food rose to 8200 yuan, 3527 yuan more than in 2006, or an average annual increase of 11.9%