Shenzheners earn more, spend less
(Shenzhen Daily)
Updated: 2005-02-05 15:12

The average salary income of working people in Shenzhen rose a year-on-year 8.5 percent to 48,374.16 yuan (US$5,849) in 2004, according to the results of an official survey released Wednesday.

Conducted by the municipal statistics bureau, the survey found that residents spent 19,569.60 yuan on average, 3.3 percent less than the previous year.

Shopping expenditure fell 6.8 percent, while spending on services rose 4.2 percent.

The bureau did not explain why residents were spending less.

The survey results show per capita disposable income in Shenzhen was 27,596.40 yuan, an increase of 6.4 percent over the previous year.

Apart from a moderate rise in salary, apartment rental income and profits from self-employed businesses contributed to the income increase, according to the survey.

It also revealed one in five families owned a private car and almost 90 percent of residents with registered permanent residence owned an apartment.

The survey indicates that people with higher incomes were less willing to spend.

The 10 percent of people at the top of the income list had a degree of spending willingness of 65 percent, compared with 98.8 percent for the 10 percent at the bottom of the list.

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