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Shanghai Tops Disposable Income in China in the First Quarter of 2015

| Apr 29, 2015 07:48 AM EDT

In 2014, Shanghai also topped the disposable income list.

In data released on Tuesday, Shanghai topped the list of having the highest disposable income in the first quarter of 2015, while China's capital city Beijing and Jiangsu followed right behind.

According to the data, Shanghai had a recorded rate of 14,153 yuan ($2,280) disposable income, Beijing 13,503 yuan ($2,100), while Jiangsu province had 11,516 yuan ($1,800).

In the first three months of 2015, the per capita urban disposable income in China averaged to 8,572 yuan ($1,400), the National Bureau of Statistics stated.

The statement shows that there was an increase of 8.3 percent compared to the 2014 recorded data, as the disposable income of 17 cities, provinces and regions were higher compared to the national spending.

On the other hand, the provinces of Qinghai and Gansu as well as the Ningxia Hui Autonomous Region, which are located in the northwest part of China, had the lowest disposable income.

Qinghai had the average rate of 6,212 yuan ($1,000), Gansu had 6,258 yuan ($1,000), while Ningxia had 6,272 yuan ($1,000).

According to Shanghai Daily, Gansu Province has the top increase compared to other regions with a percentage of 10.6 percent. It was followed by Xinjiang Uyghur Autonomous Region with 9.6 percent.

Guizhou and Jiangxi provinces tied for the third spot with 9.5 percent, the news site added.

Disposable income is the money left to an individual after paying taxes.

Shanghai, dubbed as China's financial hub, also topped the disposable income list in 2014 with a total of 47,710 yuan ($7,611), followed by Beijing with 40,000 yuan ($6,400).

Gansu Province in western China was at the bottom of the list with 20,804 yuan ($3,350).

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