2023 rural income growth reached 21,691 yuan, surpassing urban growth, and consumer spending increased 35.5-fold since 1956.

According to China's National Bureau of Statistics, residents' incomes have increased 75.8-fold since 1949, with an average annual growth of 6% when adjusted for inflation. Absolute poverty was eradicated in 2020. Rural income growth has outpaced urban growth since 2012, reaching 21,691 yuan in 2023. Consumer spending surged to 26,796 yuan, a 35.5-fold increase since 1956, with services comprising 45.2% of total expenditures.

September 20, 2024
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