Although this is significantly lower than the $43,861 average of OECD economies, China’s GNI per capita is on the high end among fellow BRICS countries. By Yi Wen, Assistant Vice President and Economist, and Brian Reinbold, Research Associate. This is the average monthly salary including housing, transport, and other benefits. Obviously, income is only one aspect of living standards, while the cost of living is another. This page provides forecast and historical data, charts, statistics, news and updates for China Wage & Salaries. To gauge the income distribution in China across regions, we next looked at real per capita household disposable income for 2015 by provinces. When compared to data from January 2018, the average salary in Canada has risen by 2% over the past 12 months. Annual Data. These results are similar to what St. Louis Fed President James Bullard found based on U.S. data.1. “Living Standards across U.S. Metropolitan Statistical Areas.” Presentation, Oct. 6, 2017. This paper makes an attempt at providing Gini coefficient estimates for each of the 31 Chinese provinces for the years 2000 to 2012. The figure represents a 2.1-percent year-on-year increase in real terms after deducting price factors, said Fang Xiaodan, an official with the National Bureau of Statistics. This is 75.05% lower of what Doctorate Degree degree holders earn. Wages in China increased to 93383 CNY/Year in 2019 from 84744 CNY/Year in 2018. Nov. 19 – When determining social insurance contributions, there is a base figure for calculating the minimum and maximum contribution amounts for individuals whose salaries fall below or above certain thresholds. Disposable income is total personal income minus personal current taxes. Indeed, the figure shows that income was significantly skewed toward a few provinces. In Plain English - Making Sense of the Federal Reserve. The average monthly salary in China varies from one city to another, but in general, it can be appealing, even in the worst-rated cities, even exceeding that of some European cities. It was a great experience to secure jobs in cities like Beijing, Tianjin, Suzhou, Shanghai, Guangzhou, Shenzhen, etc. Hong Kong SAR, and Macau SAR are excluded. Minimum wages in China continue to grow. Therefore, the cost of living can vary greatly across China. Statistical Database. With a gross domestic product per capita of US$8,827 in 2017, ranking 73rd in the world, China is seen as an “upper middle income” country by the World Bank. Families in four provinces – Ontario, Saskatchewan, Alberta and British Columbia – had higher median incomes than the Canadian average. The Bank On movement is designed to improve the financial stability of America’s unbanked and underbanked. NBS data indicates that China’s national per capita disposable income level was 30,733 yuan (USD$4,430.5) in 2019, for a nominal YoY increase of 8.9% and an inflation adjusted rise of 5.8%. We used a provincial-level consumer price index (CPI) to obtain real disposable income for different provinces across China. This page provides - China Average Yearly Wages - actual values, historical data, forecast, chart, statistics, economic calendar and news. China’s per capita disposable income reached 32,189 yuan (about 4,961 U.S. dollars) in 2020, more than double the level in 2010, official data showed Tuesday. Wages in China averaged 13074.47 CNY/Year from 1952 until 2019, reaching an all time high of 93383 CNY/Year in 2019 and a record low of 445 CNY/Year in 1952. (2018) On Income Inequality within China’s Provinces. The city of Shanghai tops others with an average monthly salary of about $1130, followed by Beijing with $980, and Shenzhen with $940. In 2014, the average exchange rate between RMB (CNY) and USD is 6.1428 : 1. Comparing these median wages with Croatia, which has an average monthly salary of $887, China has surpassed some parts of … All countries have been divided into ranked categories based on their average IQ scores. The following figure shows our provincial housing price index. A Total Fertility Rate (TFR) of 2.1 represents the Replacement-Level Fertility: the average number of children per woman needed for each generation to exactly replace itself without needing international immigration. While the provinces of Qinghai and Fujian had announced their 2020 minimum wage increase last year, Guangxi is the only province to announce and implement an increase to their statutory wage after the coronavirus outbreak. Annual Data. Select a category A person working in Fujian typically earns around 28,400 CNY per month. This breakdown begins to show regional wealth inequality within China, but still does not fully capture inequality within each province, which requires finer micro data. The latest data on the per capita disposable income for 31 of China’s provincial administrative units indicates that Shanghai, Beijing and Zhejiang province are the three wealthiest regions in the country, with the figure for Shanghai coming in at 58,987.96 yuan (approx. This is the average monthly salary including housing, transport, and other benefits. We adjusted the average city price index within each province by each respective provincial CPI and used this number as a measure of the real cost of living. I had a good number of jobs in China (not an exaggeration). 1 Bullard, James. On the face of it that seems a somewhat promising figure. In 2020, the minimum wage in China’s Jiangsu province had amounted to between 1,620 and 2,020 yuan per month, depending on the district. A darker shade of violet indicates a higher IQ score. A single person estimated monthly costs are 617.44$ (3,991.92¥) without rent. This level of growth is fairly standard when comparing average salaries on a year-by-year basis. BEIJING, Jan. 19 (Xinhua) -- China's per capita disposable income reached 32,189 yuan (about 4,961 U.S. dollars) in 2020, more than double the level in 2010, official data showed Tuesday. Salaries range from 7,990 CNY (lowest average) to 141,000 CNY (highest average, actual maximum salary is higher). Individual Income Tax Rates (applicable to income … China's largest province, southeastern Guangdong, reported 10.2% growth to bring its GDP per capita to nearly $13,000. China’s per capita disposable income, which refers to the sum of household expenditure and savings, grew 4.7 percent in 2020 from the year before to CNY32,189 (USD4,980), or a gain of 2.1 percent after adjusting for inflation. The average index was 2.8 and the median was 2.9. Cost of living index in Kunming is 55.06% lower than in New York. Real per capita GDP is the average amount of goods and services produced per person in a nation in a given year at constant prices. Canadian Provinces; Median Income by Country 2020. A recent study by Ma, ‘Economic growth’, shows that the per capita income of the two provinces in the Yangzi Delta in the 1930s were 55% higher than the Chinese national average. Given a fixed level of income, the higher the cost of living, the lower the living standard. Read more Monthly minimum wage in China … Nonetheless, the average income was still significantly higher than the median. The figure suggests that the high average income enjoyed by Beijing and Shanghai does not necessarily translate into high living standards because the cost of living was also extremely high in these two cities. Though some provinces may have high costs of living, often these areas will also have high salaries that ensure Canadians can live a comfortable life. Salaries vary drastically between different careers. Disposable Personal Income in China averaged 10916.89 CNY from 1978 until 2019, reaching an all time high of 42359 CNY in 2019 and a record low of 343.40 CNY in 1978. In other words, the living standards in Beijing and Shanghai in terms of the purchasing power of yuan were not necessarily higher than the poor provinces, but were instead much lower. A value below 2.1 will cause the native population to decline . Average daily wages in the rest of China seem to have been fairly uniform, with the coastal Fujian province fetching the lowest, 0.030 taels for unskilled labourers. We see that housing prices in most provinces did not deviate greatly from the median, but housing prices in Beijing and Shanghai were nearly five times the median and over eight times the lowest housing price regions. Finally, if you are interested in only wage income or salary, you'll find the breakdowns near the end of the post. Average salaries in Wuhan, China can vary greatly based on a career field. Shanghai has the highest disposable income per capita, followed by Beijing; both municipalities saw personal disposable income per capita of over 50,000 yuan. The figure represents a 2.1-percent year-on-year increase in real terms after deducting price factors, said Fang Xiaodan, an official with the National Bureau of Statistics. Minimum wages in China continue to grow. Shanghai was also the nation’s biggest spender at an average of CNY42,536 (USD6,582) per head. Learn more about the Econ Lowdown Teacher Portal and watch a tutorial on how to use our online learning resources. Other cities such as Chongqing and Kunming have a lower average of just over 7000 RMB. Print E-Mail Large Medium Small. The article lists China's first-level administrative divisions by their gross domestic product per capita in main years. However, since the measure is based on the average income of each nation, it does not capture inequality in living standards within a nation. Canada is a wealthy country, though salaries are always dependent on level of skill, location and job industry. Monthly Data; Quarterly Data; Annual Data; Census Data The World Bank will continue to work with China to address institutional gaps and increase its contribution to global public goods. While China has eradicated extreme poverty, the poverty line has declined as a percentage of average disposable urban income, from 26.7% in 1998 to 13.8% by 2010. I. Salaries range from 7,360 CNY (lowest average) to 130,000 CNY (highest average, actual maximum salary is higher).. This is 423.33% lower of what Masters Degree degree holders earn. Federal Reserve Community Development Manufacturing & Labor Workers enjoy the highest gross average salaries (CNY 400,000), followed by Management & Business (CNY 329,428), and Health Care & Medical (CNY 260,000). But, even in the smallest cities, it is attractive. USD$9308.15). Today, China is an upper middle-income country that has remaining development challenges. Piketty, et al., also found that while the average annual income growth in China was 6.2 percent from 1978 to 2015, income growth for the bottom 50 percent of the population was just 4.5 percent per year and income growth for the top one percent was nearly nine percent. China’s Foreign Reserves Are Declining. List of top international rankings by country, https://en.wikipedia.org/w/index.php?title=List_of_Chinese_administrative_divisions_by_disposable_income_per_capita&oldid=917933215, Ranked lists of Chinese administrative divisions, Creative Commons Attribution-ShareAlike License, This page was last edited on 26 September 2019, at 05:35. We used a housing price index of over 100 Chinese cities to construct a provincial housing price index. The Rise of China’s Middle Class . 10 province-level administrative entities posted per capita disposable income levels above 30,000 yuan, while Shanghai and Beijing topped the list with figures over twice the national average. Salaries range from 7,180 CNY (lowest average) to 127,000 CNY (highest average, actual maximum salary is higher). In 2019, the per capita disposable income of Chinese residents was 30,733 yuan, an increase of 8.9 percent in nominal terms over the same period of last year, and a real increase of 5.8 percent after deducting price factors. Summary about cost of living in Kunming, Yunnan, China: Family of four estimated monthly costs are 2,280.92$ (14,746.86¥) without rent (using our estimator). Workers holding Masters Degree degrees enjoy the highest average gross salaries in China. Why, and What Effects Could This Have? The average CNY exchange rate used here is from the National Bureau ... there were 10 provinces with GDP per capita exceeding 1,000 US dollars, of which Beijing, Tianjin and Shanghai exceeded 2,000 US dollars. Trends in wages decreased by -100.0 percent in Q4 2020. Salaries vary … It wouldn’t make any of these households rich, or even lower-middle class by American standards, but it would be quite a leap forward from where they started. A common measure for gauging the living standard of a nation is real per capita gross domestic product (GDP). The average starting salary for the class of 2020 at all universities was 63,480 yuan per year, according to an annual report by zhaopin.com, one of China's biggest online job-hunting platforms. The large difference between the average and the median income means that world income is concentrated in a few rich countries, thus suggesting a high level of global inequality. Projects & Operations ... Income level: Upper middle ... Average Monthly Temperature 1901 - 2009 (C) Average Monthly Rainfall 1901 - 2009 (mm) The Climate Change Knowledge Portal is a hub of information, data and reports about climate change around the world. Hence, measured by average living standards in the provinces, inequality in China is not as severe as people often think. Fertility in China. 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