Fig. 2

China’s real GDP growth, fixed asset growth, and disposable income growth (Unit: %, Q1 2009–Q1 2019) Notes. China’s rural resident disposable income data was published only annually and not at all after 2014. As rural retail sales only account for around one-seventh of urban retail sales, the issue that rural resident income and consumption are neglected is not considered significant. Source: Wind; National Bureau of Statistics