Incomes climb 10% in Q1

People's incomes are continuing to rise following a series of government initiatives to stimulate domestic consumption, according to National Bureau of Statistics figures. Urban disposable income per capita rose 10.8% year-on-year in the first quarter to US$410.78 after allowing for price rises, against an 8.6% rise in the first quarter last year. Per capita disposable income for rural residents rose 11.5% to US$136.47, 0.4 percentage points lower than growth in the same period last year. But the National Development and Reform Commission's Economics Research Institute deputy director Yang Yiyong told the South China Morning Post rising incomes did not imply corresponding growth in consumption, because people tended to save due to uncertainties about jobs, medical care and retirement.