Shanghai tops consumer spending in China: NBS

(ECNS) -- Shanghai, Beijing and Tianjin took the top three spots in per capita consumption expenditure across China in the past three quarters, the National Bureau of Statistics (NBS) said.

National per capita consumption expenditure reached 15,464 yuan ($2,180), an 8.3 percent increase year-on-year, and a 5.7 percent rise after deducting price factors.

Shanghai continued to lead the nation at 33,557 yuan per person, followed by Beijing at 31,542 yuan and Tianjin at 23,751 yuan. Shanghai also ranked first in per capita disposable income at 52,292 yuan.

A breakdown of spending finds most went on food, tobacco and alcohol – regarded as one of eight categories – and housing, but the biggest increase came in spending on education, culture and recreation, which surged 13.5 percent.

Consumption remained the largest factor in China's GDP growth in the first nine months of this year, contributing 60.5 percent to the country's economic growth. 

Liu Xuezhi, a researcher with the Bank of Communications, said the country has released new incentives to stimulate consumption, which is expected to grow by 8.1 percent for the entire year.