2. Rapid rise in disposable income

A woman buys sweets at a supermarket in Zouping county, Shandong province, Jan 26, 2017. [Photo/Asianewsphoto.com]

Chinese residents' per capita disposable income reached 23,821 yuan ($3,488) in 2016, an increase of 7,311 yuan ($1,071) from 2012, which translated into an average annual growth of 7.4 percent.

The per capita disposable income of urban residents was 33,616 yuan in 2016, up 9,489 yuan from 2012. The annual growth rate averaged 6.5 percent.

The per capita disposable income of rural residents increased by 3,974 yuan to 12,363 yuan during the same period, an average annual growth of 8 percent.