Beijing Leads China in Household Assets, Income Gap

Home>>Business

Last updated at: (Beijing Time) Monday, March 03, 2003

Beijing Leads China in Household Assets, Income Gap

DISCUSSION

CHINESE

SEND TO FRIEND

A survey result published by the Beijing Statistic Bureau showed that by the end of March 2002, the net assets per household for Beijing urban residents was 475,000 yuan, 2.08 times of the national urban average level (228,300 yuan).

The household assets of residents refer to economic formation that can be measured by currency under the possession or control of resident families, including various kinds of properties, debt rights and other rights and composed of two parts: financial assets and assets in kind. Survey showed that the financial assets per household of Beijing residents exceeded 130,000 yuan, two thirds of it being bank deposits, while assets in kind stood at 343,000 yuan, 90 percent being house property.

There exists a gap of 7.4 times between assets of the lowest and the highest incomes for Beijing households, for the average figure of the former stood at 138,000 yuan while the latter at 1020,000 yuan which accounts for 42.74 percent of the total household assets of Beijing's urban dwellers.

Households surveyed fall into eight categories according to their profession. Those with the highest assets belong to "private enterprise owners and individual proprietors", who claimed total assets as high as 3,303,000 yuan, 6.95 times of the average level. Whereas households of the lowest assets are "operators and related staff of production and transportation equipment", who hold only 49.41 percent of average level in terms of total assets, or 7.11 percent of assets by "private enterprise owners and individual proprietors".

Aside from profession, the ill balance of assets distribution also showed a geographical character. Viewing from the 18 districts and counties covered by the survey, residents of the city proper holds higher household assets than those of suburbs and outer suburbs, with the last one's assets volume far lower than the average level.

The total assets per household for Beijing urban dwellers was 2.08 times of the national urban average (228,300 yuan), according to calculation of related department of the city.

The situation mainly attributes to two facts, analyst said. First, for long time the living standard of urban residents of Beijing has been staying higher than national average. Secondly, for a long time the price of house property stands higher than national average. The survey also showed that Beijing's mixed average price for residents' housing is 3.09 times of national average.

By PD Online Staff Li Heng

Questions?Comments? Click here

Per Capita Dispensable Income for Beijingers Exceeds 12,000 yuan in 2002

Which Country, China or Japan, Does Russian Oil Pipeline Lead to? ( 3 Messages)

Chinese Fast Food Chains Battle Foreign Competitors ( 4 Messages)

Chinese Commemorate Dead Soviet Pilots ( 3 Messages)

China-ASEAN Economic Cooperation Upgraded ( 2 Messages)

Japan Strives to be Major World Power: Analysis ( 7 Messages)