Cashflows in major cities in China rises during the Pandemic

In 2020 Shanghai had the highest average per capita in cashflow among the 19 major cities in China.

With an average per capita disposable income of 72,232 yuan ($11,098), Shanghai was the only city in China where the average exceeded 70,000 yuan.

It was followed by Beijing (69,434 yuan), Guangzhou (68,304 yuan) and Shenzhen (64,878 yuan).

Despite the COVID-19 pandemic, resident incomes continued to grow in all 19 major cities across the country.

Wuhan, the city that was hit the hardest by the pandemic, saw its average per capita disposable income for urban residents rise 9.5 percent year-on-year to 50,362 yuan.

Among the top 10 cities, four are located in the Yangtze River Delta, namely Shanghai, Suzhou, Hangzhou and Nanjing.

Four cities located in the Greater Bay Area — Guangzhou, Shenzhen, Dongguan and Foshan — also made the top 10.

Changsha, the capital of China's Hunan province, was ranked 10th.

The 19 major cities were chosen according to four business indexes set by the Institute of New First-tier Cities, a research unit of the Yicai, a Shanghai-based business, and finance media group.