Ningbo 3rd biggest spender in Yangtze River Delta

People seen in a shopping mall in Ningbo, East China's Zhejiang province. [Photo/Ningbo Evening News]

Ningbo's per capita consumption amounted to 42,997 yuan ($6,195) in 2022, the third largest among cities in the Yangtze River Delta, a region encompassing the provinces of Jiangsu, Zhejiang and Anhui as well as Shanghai municipality.

It was only second to Hangzhou, the capital city of Zhejiang, and Shanghai, which had a per capita consumption of 46,440 yuan and 46,045 yuan respectively.

However, Ningbo eclipsed the two cities in terms of spending growth momentum. Last year, the city reported a yearly uptick of 6.4 percent in per capita consumption, the fastest in the delta.

Ningbo residents' per capita disposable income was 68,348 yuan, up 2.2 percent year-on-year after deducting price factors, meaning that they spend 62.88 yuan out of every 100 yuan earned.

In the past year, Ningbo's retail sales of social consumer goods expanded by 5.3 percent - the second fastest in the Yangtze River Delta, only behind Hangzhou - to 489.67 billion yuan, ranking 16th among cities with a GDP of at least 1 trillion yuan in China, two slots higher than the previous year.