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| Friday, September 05, 2008 23:36:02 |
Chinese average consumption rate rises
Transport and telecommunications were the major costs for Chinese urban residents in the first half of 2006, Xinhua reported, citing official figures released by National Bureau of Statistics.
According to a national survey of 560 000 Chinese residents, average individual monthly consumption reached 4228 yuan, an 8 percent year-on-year increase.
Expenditure on transport and telecommunications reached 15.2 percent; clothing 12 percent, accommodation 11.9 percent and entertainment and other services 11.7 percent. The average urban individual monthly income is 5997 yuan, which is a 10.2 percent jump since last year.
With a 12.6 percent year-on-year growth and production totaling almost 4.8 billion yuan, Shanghai’s economic development has continued the rapid growth of the second half of 2005. Average individual consumption has increased by 1.3 percent.
The development of the service industry is accompanied by growth in the consumption of services in Shanghai, which show a 2.1 percent and 14.6 percent year-on-year jump respectively. The average Shanghai individual spent 31.2 percent of their total expenditure on services.
For the first time, Beijing residents are reported to have an average income of over 10000 yuan. Statistics from the first half of the year show an average income of 10161 yuan, meaning an increase of 15 percent from last year.
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