Hunan’s “people’s livelihood account book” for the first half of the year was released on July 19, revealing some positive trends in the province. The per capita disposable income of residents in Hunan reached 17,070 yuan, and the income gap between urban and rural areas continued to narrow. Additionally, the survey data showed that transportation and communication expenditures saw the most significant increase.
The province’s per capita disposable income of 17,070 yuan marked a nominal increase of 5.8% compared to the same period last year. After adjusting for price factors, the real increase was measured at 5.1%. The sources of this income included wage income, net operating income, net property income, and net transfer income.
In terms of permanent residence, urban residents had a per capita disposable income of 23,689 yuan, while rural residents had an income of 9,827 yuan. The income gap between urban and rural residents continued to narrow, with the growth rate of rural residents’ income being 2.3 percentage points higher than that of urban residents. The ratio of per capita disposable income between urban and rural residents decreased to 2.41 from the previous year.
In terms of expenses, the per capita living consumption expenditure of residents in Hunan was 11,956 yuan during the first half of the year. This marked a 4.4% increase compared to the same period last year. The expenditure on transportation and communication saw a significant rise of 7.8%, while education, culture, and entertainment expenses increased by 7.1%. Expenditure on medical care and food, tobacco, and alcohol also experienced growth.
The province’s consumer price index (CPI) rose by 0.7% year-on-year. The prices of most categories showed an increase, with food, tobacco, and alcohol prices rising by 1.7%. However, transportation and communication prices fell by 2.2%.
Overall, the first half of the year in Hunan showcased positive developments in the residents’ income levels and living expenses. The narrowing income gap between urban and rural areas suggests improved equity in the distribution of wealth. The increase in transportation and communication expenditures reflects the growing connectivity and accessibility within the province. These trends contribute to the overall improvement in the quality of life for Hunan’s residents.