Good news from the Chinese mainland! In 2023, the per capita disposable income rose by an impressive 6.1%, with rural areas seeing an even higher growth of 8.4%. This surge highlights a narrowing income gap between urban and rural residents, marking a significant step towards economic balance.
Chinese Premier Li Qiang shared these encouraging figures during his government work report at the opening meeting of the second session of the 14th National People's Congress (NPC) in Beijing. 🏛️
Over the past year, the government's efforts have focused on enhancing people's well-being. This includes stronger tax deductions, expanded basic insurance coverage, and the renovation of old urban residential areas. These initiatives have directly benefited millions:
More than 66 million taxpayers enjoyed increased special deductions for individual income tax, covering expenses like children's education and elderly care.
Over 10 million households benefited from the renovation of old urban residential complexes and the development of government-subsidized housing.
Despite facing challenges like geopolitical tensions, the aftermath of the COVID-19 pandemic, and natural disasters, Premier Li remains optimistic. He emphasized that the Chinese people's resilience and determination will continue driving the nation's progress. 💪🌟
Looking ahead, these positive trends indicate a promising future for the Chinese mainland's economy, as policies and initiatives continue to uplift residents and bridge economic divides.
