China's National Bureau of Statistics has published the per capita disposable income figures for residents of 31 provinces for the first three quarters of 2026.
Disposable income refers to the income residents can freely dispose of, representing the total sum available for final consumption expenditure and savings. It encompasses both cash income and in-kind income. By source, disposable income comprises four components: wage income, net operating income, net property income and net transfer income. Per capita disposable income is the average obtained by dividing total disposable income by the number of permanent residents. This indicator can be used to measure residents' living standards and purchasing power, and provides an important reference for formulating policies to safeguard and improve people's livelihoods.
In the first three quarters, nationwide per capita disposable income reached 34,230 yuan, a nominal increase of 5.3% over the same period last year, or a real increase of 4.4% after deducting price factors. Broken down by urban and rural areas, urban residents' per capita disposable income stood at 44,945 yuan, up 4.5% nominally year on year, or 3.6% in real terms after adjusting for prices; rural residents' per capita disposable income was 18,809 yuan, up 6.3% nominally, or 5.6% in real terms.
By province, in the first three quarters, 12 provinces saw per capita disposable income exceed 30,000 yuan, with Shanghai and Beijing both surpassing 70,000 yuan. Shanghai topped the list with per capita disposable income of 72,175 yuan, followed by Beijing at 70,405 yuan in second place, and Zhejiang in third at 57,593 yuan. Tianjin, Jiangsu, Guangdong and Fujian each recorded per capita disposable income above 40,000 yuan, ranking fourth through seventh. Shandong, Chongqing, Inner Mongolia, Liaoning and Anhui exceeded 30,000 yuan, ranking eighth through twelfth.
Chongqing, Inner Mongolia, Anhui, Hunan and Hubei led the central and western regions in per capita disposable income during the first three quarters. These provinces are also among those with higher levels of industrialization and urbanization in the central and western areas. As scientific and technological innovation becomes a fundamental driver of development, a number of modern industrial clusters are accelerating their concentration in strong provincial capitals and central cities in the central and western regions. Industrial development drives rapid growth in employment, which in turn drives sustained and rapid income growth.
In 2025, Anhui's R&D investment intensity reached 2.86%, ranking seventh nationally and first in the central and western regions. Hefei, the provincial capital, recorded a whole-society R&D investment intensity of 4.11%, firmly holding third place among provincial capitals. On July 27 this year, Changxin Technology officially listed on the Shanghai Stock Exchange's STAR Market, making Hefei the fourth-largest city by total A-share market capitalization. In recent years, Hefei has focused on developing its "chips, displays, automobiles and integrated circuits" industries, continuously creating a large number of high-quality jobs and attracting a steady inflow of talent.
Hubei boasts four national strategic emerging industry clusters and 16 national innovative industry clusters, both ranking among the top in the country. In Wuhan's Optics Valley, an entire industrial chain spanning from optical fibers to optical displays, optical modules, optical chips and materials has taken shape, with 16,000 optoelectronic enterprises gathered there, forming a trillion-yuan "optics, chips, displays, terminals and networks" ecosystem.
Ding Changfa, associate professor of economics at Xiamen University, analyzed that multiple new first-tier cities and strong provincial capitals in the central and western regions have solid foundations in science, education, culture and health, with strong higher education capabilities that have gathered a large number of talented people. As the business environment continues to improve and optimize, the atmosphere for urban innovation grows ever stronger. Over time, this has nurtured a group of relatively competitive technology enterprises, and industrial development has also attracted talent.
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