7. The income of urban and rural residents continued to grow with rapid increase in transfer income. In the first three quarters of this year, the per capita income of urban households was 14,213 yuan. Of this total, the per capita disposable income of urban population was 12,973 yuan, a year-on-year growth of 9.3 percent, or a real growth of 10.5 percent after deducting price factors. Of the total per capita income of urban households, the income from wages and salaries was up 10.2 percent year-on-year; transfer income was up 15.7 percent; net operating income up 5.0 percent; the property income up 12.3 percent. The per capita cash income of rural population was 4,307 Yuan, up by 8.5 percent year-on-year, or a real growth 9.2 percent after deducting price factors. Of this total, the income from wages and salaries was up 9.9 percent; income from the sale of agricultural products up by 4.0 percent; income from production operation in secondary and tertiary industry up by 10.5 percent; property income up by 11.7 percent; transfer income up 26.4 percent.

8. The money supply grew rapidly with continued increase in loans of financial institutions. By the end of September, the supply of broad money (M2) was 58.5 trillion yuan, a year-on-year growth of 29.3 percent, which was 11.5 percentage points higher than that at the end of last year; that of the narrow money (M1) was 20.2 trillion yuan, a rise of 29.5 percent, or 20.5 percentage points higher; the cash in circulation (M0) was 3,678.8 billion yuan, up by 16.0 percent, or 3.3 percentage points higher. The amount of outstanding loans of all financial institutions was 39.0 trillion yuan, increased by 8.7 trillion yuan over that at the beginning of this year, or an increase of 5.2 trillion yuan as compared with the same period last year. The amount of outstanding deposits of all financial institutions was 58.4 trillion yuan, an increase of 11.7 trillion yuan over the beginning of the year, or 5.2 trillion yuan more than the same period last year.

At present, it’s the crucial stage for the national economy to realize a stable growth, yet the basis of the economic recovery still needs to be consolidated, and the insufficient external demand is still severe, with the arduous task of expanding domestic demand and adjusting the structures. In the following period, we should continue the implementation of the scientific outlook on development, maintain the consistency and stability of the macro-economic policies in accordance with the central government’s decisions and deployment of economic activities, insist on the proactive fiscal policies and moderately lenient monetary policies, fully implement, enrich and optimize the arrays of plans and policy measures to deal with the international financial crisis. At the same time, we should improve the relevance, flexibility, effectiveness and consistency of the macro-policies, and strive to realize stable and fast development of the national economy.

 

(National Bureau of Statistics October 22, 2009)