Beijing CBD [Photo via tuchong.com]

Shanghai Municipality, Beijing Municipality and Zhejiang Province are the top administrative divisions in China in terms of residents' disposable income in the first quarter of this year, Time-Weekly.com reported on April 23.

Shanghai ranks first with CNY 23,489 (USD 3,405) residents' disposable income in Q1, up 3.64 percent year-on-year, followed by Beijing and Zhejiang with CNY 21,367 and CNY 20,158, respectively, in the same period.

They are the only three places with residents' disposable income surpassing CNY 20,000 in the first quarter. A total of 12 Chinese administrative divisions' disposable income surpassed 10,000 yuan in the same period.

China's per capita disposable income stood at CNY 10,870 in the first quarter of 2023, up 5.1 percent year-on-year in nominal terms, according to data from the National Bureau of Statistics.

The disposable income of eight administrative divisions - Shanghai, Beijing, Zhejiang, Jiangsu, Tianjin, Guangdong, Fujian and Shandong – went above the national average in Q1.

Shaanxi witnessed the fastest growth of 6.19 percent to CNY 8,306, surpassing Hebei and Guangxi to become the top 20 nationwide.

As China's economy recovers, pockets of people all over China are bulging and the residents' disposable income in the top 10 administrative divisions of the country reached nearly CNY 160,000 in Q1.