On October 19th, the National Bureau of Statistics released the third quarter report of the Chinese economy. In the first three quarters, the per capita disposable income of residents in China was 34230 yuan, a nominal increase of 5.3% year-on-year, and an actual increase of 4.4% after deducting price factors. Divided by permanent residence, the per capita disposable income of urban residents was 44945 yuan, a nominal increase of 4.5% year-on-year and an actual increase of 3.6%; The per capita disposable income of rural residents was 18809 yuan, a nominal increase of 6.3% year-on-year and an actual increase of 5.6%. From the perspective of income sources, the per capita wage income, net operating income, net property income, and net transfer income of residents in China increased by 5.3%, 6.6%, 1.6%, and 5.7% respectively in nominal terms. In the first three quarters, the ratio of per capita disposable income of urban and rural residents (with rural residents as 1) was 2.39, a year-on-year decrease of 0.04. (Outlook New Era)