7. The urban and rural population’s income continued to grow with higher growth for rural population than that for urban population. In the first three quarters of this year, the per capita total income of urban households was 15,756 yuan. Of this total, the per capita disposable income of urban population was 14,334 yuan, a year-on-year growth of 10.5 percent, or a real growth of 7.5 percent after deducting price factors. Of the per capita total income of urban households, the year-on-year growth of wage income was 10.1 percent; transferred income 12.5 percent; net income from business operation 9.9 percent; and 18.5 percent from property income. The per capita cash income of rural population was 4,869 yuan, up by 13.1 percent year-on-year, or 9.7 percent growth in real terms. Of this total, the growth of wage income was 18.7 percent; household business operating income 8.7 percent; property income 19.4 percent; and 17.2 percent from transferred income. In the first three quarters of this year, the per capita consumption expenditure for urban population increased by 6.3 percent in real terms and the per capita consumption expenditure in cash for rural population grew by 7.3 percent after deducting the price factor.

8. The money supply was basically stable with the incremental outstanding loans and deposits declined slightly as compared with that a year ago. By the end of September, the balance of broad money (M2) was 69.6 trillion yuan, a year-on-year growth of 19.0 percent; the balance of narrow money (M1) was 24.4 trillion yuan, a rise of 20.9 percent; and the balance of cash in circulation (M0) was 4.2 trillion yuan, up by 13.8 percent. The amount of outstanding loans of all financial institutions was 46.3 trillion yuan, increased by 6.3 trillion yuan over that at the beginning of this year, or a drop of 2.4 trillion yuan as compared with the end of September last year. The amount of outstanding deposits of all financial institutions was increased by 10.3 trillion yuan over the beginning of the year, or 1.4 trillion yuan less than that a year ago.

In the coming period, we should be guided by the scientific outlook on development, implement various policies set by the Central Party Committee and the State Council, maintain the continuity and stability of macro economic policies, and improve the relevance and flexibility of the policies. In implementing the policies, we should apply the proper strength, pace and focus on the priorities, vigorously promote the transformation of economic development mode and the adjustment of economic structures, make great efforts to intensify the reform and opening up, attach great importance to the improvement of people’s livelihood and achieve a sound and fast economic and social development.