Personal income to double in five years: analyst

Updated: 2011-09-07 17:48


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Personal revenue in China is likely to double in the five years to 2015 due to increasing social welfare and rising wages, says the chief economist at Bank of China International, Cao Yuanzheng.

China is stepping into a new stage of development, and domestic consumption should be the main driving force, the financial news website quoted Cao as saying.

The increase in consumption is relatively slow, mainly because of low personal income, he said.

By Sun Yuanqing