Urban, rural income gap narrows in Q1-Q3
Updated: 2011-11-05 14:14
BEIJING -- The income gap between rural and urban residents has continued to narrow, as income growth for rural residents outpaced that of urban dwellers during the first three quarters, an official said Friday.
The income growth rate of rural residents was 5.8 percentage points higher than that of urban dwellers during the first nine months, said Song Hongyuan, director of the Research Center for Rural Economics under the Ministry of Agriculture.
The growth of rural residents' per capita cash income hit 20.7 percent to reach 5,875 yuan ($926.66). The actual growth after factoring in price adjustments was 13.6 percent, according to a report issued by the research center on Friday.
During the past three quarters, urban and rural residents' per capita disposable income reached 16,301 yuan, up 13.7 percent year-on-year. After deducting inflation, actual growth was 7.8 percent, the report said.
However, a combination of factors will restrict farmers from making more money, including high inflation, rising agricultural production costs and fewer job opportunities, Song said.