AI Data Insight
China's nominal national per capita disposable income grew by 4.9% year-on-year in Q1 2026, a further decline from 5.0% in the previous quarter and marking a new low since Q3 2022. A breakdown indicates that rural income growth continued to outperform urban areas; however, after deducting price factors, the real growth was only 4.0%. Against the macroeconomic backdrop of "strong supply and weak demand," structural employment pressures persist, and the momentum of future consumption recovery continues to face challenges.