Disposable Income Grows Faster

China’s average per-capita disposable income grew 9.1 percent year on year to 19,342 yuan ($2,930) in the first three quarters of the year, according to data from the National Bureau of Statistics (NBS). Deducting inflation, the real growth was 7.5 percent, 1.2 percentage points higher than that for the same period last year. The figure exceeded the country’s GDP growth of 6.9 percent for January-september. NBS data showed the income gap between China’s urban and rural residents continued to narrow, with the real growth rate of per-capita disposable income in rural areas 0.9 percentage points higher than that in urban regions. percentage point if the ratio exceeds 10 percent, the bank said. Inclusive financing will also cover credit support for small business owners, impoverished groups and students. The targeted cut, which goes into effect in 2018, is a structural adjustment that does not change the country’s overall monetary policy stance, the central bank said.