Disposable incomes outpace GDPs

As of Monday, a total of 28 provinces, autonomous regions and municipalities had published data on local disposable income per capita of urban and township residents for the first three quarters of this year, 26 of which reported income growth exceeding that of their local GDPs.

Among those reporting, Shanghai residents had the highest disposable income of 30,205 yuan ($4,794) for the first nine months, while Northwest China's Gansu Province had the highest growth rate of 14.69 percent, exceeding the local GDP growth of 13.3 percent during the same period.

China will double its 2010 GDP and per capita income for both urban and rural residents by 2020, said Hu Jintao, then general secretary of the Central Committee of the Communist Party of China (CPC), setting a new target in a speech at the opening of the 18th National Congress of the CPC on November 8.

"If a resident's average income grows 10 percent annually, then it takes about seven years to double," said Yang Heqing, president of the School of Labor Economics at the Beijing-based Capital University of Economics and Business.

As long as China's annual GDP growth stays above 7 percent, the official target of doubling between 2010 and 2020 is achievable, Yang said Monday.

Less developed western regions will hit the double income target sooner, he said, as their income growth rate is higher than economically developed eastern and coastal regions due to a low base effect.

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