BEIJING — China’s financial hub Shanghai outperformed other provincial regions in per capita disposable income in the first quarter of this year, official data showed.
Average per capita disposable income in Shanghai reached about 17,277 yuan ($2,721.2) in Q1, the highest among China’s provincial level regions, followed by Beijing and Zhejiang, according to the National Bureau of Statistics.
China’s average per capita disposable income stood at 7,815 yuan in the first three months, which rose 6.6 percent year-on-year.
A total of nine provincial level regions outperformed the national average, including Beijing, Tianjin, Jiangsu, Guangdong and Shandong.
Shanghai also overtook its peers in purchasing power, with residents spending about 11,102 yuan on average in Q1.
Strong income growth and lifestyle changes in past years have helped China’s consumer spending amid government efforts to shift the economy toward a growth model with more emphasis on consumption, the service sector and innovation.