In the first quarter of 2023, the income of residents in Suzhou increased steadily and consumption expenditure recovered at an accelerated pace. According to the NBS survey team in Suzhou, the average per capita disposable income of Suzhou residents stood at 22,907 yuan, ranking first in the 13 prefecture-level cities of Jiangsu Province, and the per capita living expenditure of local residents was 12,421 yuan, a year-on-year increase of 6.8%.

Statistics show that in the first quarter, Suzhou residents saw their per capita disposable income grow by 764 yuan over the same period last year. The residents’ income in Suzhou was 1.33 times as much as that in Jiangsu Province (17,183 yuan) and 2.11 times as much as that in China (10,870 yuan), ranking first among the 13 prefecture-level cities in the province. And the per capita disposable income of Suzhou residents increased by 3.5% in the first quarter, which is basically synchronized with the city’s economic growth.

Suzhou residents’ per capita living expenditure in the first quarter was 12,421 yuan, an increase of 788 yuan (6.8%) over the same period last year. “The growth rate is 4.2 percentage points higher than that of the year 2022, 0.5 percentage points higher than the same period last year, and 0.3 percentage points higher than the same period in 2019, showing that consumption has been recovering at an accelerated pace,” said a member of the NBS survey team in Suzhou.

Meanwhile, the consumption propensity rate of Suzhou residents was 54.2% in the first quarter of 2023, 1.7 percentage points, 2.1 percentage points and 7.9 percentage points higher than the same period in 2022, 2021 and 2020, respectively.