On April 16th, the National Bureau of Statistics released the data on residents' income and consumption expenditure in the first quarter of 2025, presenting an important picture of the current economic and people's livelihood situation. These are not just sets of figures; they are closely related to everyone's life. Now, let's take an in-depth look at them.
## Income Growth: Differences between Urban and Rural Areas, Diverse Sources
In the first quarter, the per capita disposable income of residents across the country reached 12,179 yuan, with a nominal growth rate of 5.5% compared to the same period last year. After deducting price factors, the actual growth rate was 5.6%, which means that people's "wallets" have indeed become fuller.
From the perspective of urban and rural areas, the per capita disposable income of urban residents was 15,887 yuan, growing by 4.9% (nominal growth rate, unless otherwise specified below), and the actual growth rate was 5.0% after deducting price factors. The per capita disposable income of rural residents was 7,003 yuan, growing by 6.2%, and the actual growth rate was 6.5% after deducting price factors. The income growth rate of rural residents exceeded that of urban residents, and the income gap between urban and rural areas is further narrowing, which is a positive sign of the steady progress of the rural revitalization strategy.
Looking at the sources of income, the per capita wage income was 6,976 yuan, growing by 5.9%, accounting for 57.3% of the disposable income. It remains the major part of the income, reflecting the stability and vitality of the labor and employment market. The per capita net operating income was 2,071 yuan, growing by 5.7%, accounting for 17.0% of the disposable income, indicating that the environment for individual businesses and entrepreneurship continues to improve, and people's ability to create wealth independently is increasing. The per capita net property income was 1,015 yuan, growing by 2.7%, accounting for 8.3% of the disposable income, showing that residents' awareness of financial management has increased, and the channels for property income are constantly expanding. The per capita net transfer income was 2,117 yuan, growing by 5.5%, accounting for 17.4% of the disposable income, reflecting that the social security system and transfer payment policies play an important role in adjusting income distribution and ensuring people's livelihood.
In addition, the median per capita disposable income of residents across the country was 9,939 yuan, growing by 5.0%, and the median was 81.6% of the average. Among them, the median per capita disposable income of urban residents was 13,450 yuan, growing by 4.5%, and the median was 84.7% of the average. The median per capita disposable income of rural residents was 5,575 yuan, growing by 6.3%, and the median was 79.6% of the average. The median data can more intuitively reflect the middle level of income distribution, giving us a more comprehensive understanding of the distribution of residents' income.
## Consumption Upgrade: Diverse Demands, Optimized Structure
Income growth drives consumption upgrade. In the first quarter, the per capita consumption expenditure of residents across the country was 7,681 yuan, with a nominal growth rate of 5.2% and an actual growth rate of 5.3% after deducting price factors.
The per capita consumption expenditure of urban residents was 9,363 yuan, and that of rural residents was 5,333 yuan. The consumption of both urban and rural residents showed a growth trend, and the consumption growth rate of rural residents was slightly higher than that of urban residents, indicating that the rural consumption market has great potential.
In terms of the consumption structure, the per capita consumption expenditure on food, tobacco, and alcohol was 2,420 yuan, accounting for the highest proportion at 31.5%, but the growth was relatively moderate, only 2.8%. This shows that after meeting the basic dietary needs, residents have more funds to invest in other areas. The per capita consumption expenditure on clothing was 498 yuan, growing by 1.2%, accounting for 6.5%. The per capita consumption expenditure on housing was 1,595 yuan, growing by 2.1%, accounting for 20.8%. As an important foundation of life, housing expenditure has been growing steadily.
It is worth noting that the per capita consumption expenditure on daily necessities and services was 417 yuan, growing by 9.6%; the per capita consumption expenditure on transportation and communication was 1,044 yuan, growing by 10.4%; the per capita consumption expenditure on education, culture, and entertainment was 823 yuan, growing by 13.9%; the per capita consumption expenditure on medical and health care was 648 yuan, growing by 3.0%; and the per capita consumption expenditure on other supplies and services was 236 yuan, growing by 9.9%. The rapid growth in these areas reflects that residents' consumption is shifting from a survival-oriented type to a development-oriented and enjoyment-oriented type, with more emphasis on aspects such as the quality of life, health, education, and entertainment.
The data on residents' income and consumption in the first quarter of 2025 outlines a picture of China's sustained economic growth and continuous improvement of people's livelihood. The growth of residents' income provides impetus for consumption upgrade, and the optimization of the consumption structure, in turn, promotes the adjustment of the industrial structure and high-quality economic development. In the future, we look forward to the continued steady increase in residents' income, a more prosperous consumption market, and a happier life for people in the tide of economic development.
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