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Chinese incomes surge by nearly 60 times in 70 years, says new data
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India, Aug. 14 -- The per capita disposable income of Chinese citizens surged nearly 60 times in 70 years, latest official data has revealed as China moves closer towards becoming a higher income country from a middle-income one.
The data was released in a report by Chinese National Bureau of Statistics (NBS) last week.
China's per capita disposable income in 1949 was nearly 49.7 yuan when the Communist Party of China (CPC) emerged victorious from the civil and formed new China.
It topped 28,200 yuan ($4030) in 2018, the Chinese national bureau of statistics (NBS) said in the report.
The increase between 1949 and 2018 saw a surge of nearly 59 times factoring in inflation, the report added.
The steady income growth over the decades le...
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