Urban income continues to grow in H1

In the first half of this year, the per capita disposable income of the urban residents in Binhai New Area was 25,499 yuan ($3,709), a year-on-year increase of 5.7 percent, according to the National Bureau of Statistics Investigation Team in Binhai.

Tertiary industry companies operated by families showed accelerating development, and the level of urban residents' net income significantly increased, driven by collection of rising rents.

Wages income contributes most

In 2018, Binhai New Area continues to pay close attention to employment. It plans to create 120,000 new jobs, transfer and resettle 5,000 rural laborers, and solve the problem of re-employment of 8,000 unemployed people to control the registered urban unemployment rate within 3.5 percent.

In the first half of this year, the per capita wage income of urban residents in Binhai New Area was 17,922 yuan, an increase of 5.9 percent over the same period of last year, and that category’s contribution rate to the growth of total disposable income in the area was 71.8 percent.

Operating net income growth significantly increases

In 2018, Binhai New Area plans to protect new business owners. Within the year, a pilot project of joint investments and loans will be carried out, more than 30 million yuan of guaranteed loans will be granted for start-ups, and eight bases for university students’ innovative undertakings will be added to cultivate at least 80 start-up companies.

In the first half of this year, tertiary industry operated by families showed accelerated development. The per capita net operating income of urban residents in Binhai New Area was 1,770 yuan, an increase of four percent compared with the same period last year, an increase of 7.8 points and a contribution rate from that category of 4.9 percent to the overall growth of disposable income.

Property net income shows fastest growth on year-on-year basis

In 2018, with the growth of housing prices and an increase in immigrants, the rental price of housing in Binhai New Area gradually rose, along with the increasing net income level of urban residents.

In the first half of this year, the per capita net property income of urban residents was 2,553 yuan, a year-on-year increase of 6.3 percent, and the contribution rate to the area’s total growth of disposable income was 11 percent.

Net transferred income steadily increases

In 2018, the Binhai New Area will improve its social relief and security system, add 19 relief and security projects, raise the standard of relief by 15 items, strengthen social assistance for the disabled, and establish a natural growth mechanism for relief and security funds. The total annual expenditure will be 1.2 billion yuan, covering more than 3 million people.

In the first half of this year, the per capita net transferred income of urban residents was 3,255 yuan, an increase of 5.5 percent over the same period last year, and the contribution rate to the area’s growth in disposable income was 12.3 percent.

Income structure is basically stable

In the first half of this year, the per capita wage income, net operating income, net property income and net transferred income of the urban residents in Binhai New Area accounted for 70.3 percent, 6.9 percent, 10 percent and 12.8 percent respectively of the area’s total per capita disposable income. Compared with the same period last year, all categories remained basically stable.