VII. Urban and Rural Residents' Income Increased Steadily, with Higher Growth for Rural Residents than that for Urban Residents. In 2010, the per capita income of urban household was 21,033 yuan, an increase of 11.5 percent over that in the previous year. Of this total, the per capita disposable income of urban residents was 19,109 yuan, up by 11.3 percent, or a real increase of 7.8 percent after deducting price factors. Of the per capita income of urban household, the growth of wage income was 10.7 percent; that of transferred income, 12.8 percent; operating net income, 12.1 percent; property income, 20.5 percent. The per capita net income of rural residents was 5,919 yuan, up by 14.9 percent over that in the previous year, or 10.9 percent growth in real terms. Of this total, the growth of wage income was 17.9 percent; that of household operating net income, 12.1 percent; property income, 21.0 percent and transferred income, 13.8 percent.

VIII. Money Supply Kept Steady Growth, the Incremental Outstanding Loans and Deposits Declined. By the end of December, the balance of broad money (M2) was 72.6 trillion yuan, a year-on-year growth of 19.7 percent, which was 8.0 percentage points lower than that at the end of last year; the balance of narrow money (M1) was 26.7 trillion yuan, up by 21.2 percent, or 11.2 percentage points lower; the balance of cash in circulation (M0) was 4.5 trillion yuan, a rise of 16.7 percent, or up by 4.9 percentage points. The amount of outstanding loans of all financial institutions was 47.9 trillion yuan, increased by 7.9 trillion yuan over that at the beginning of this year, or a decrease of 1.6 trillion yuan as compared with last year. The amount of outstanding deposits of all financial institutions was 71.8 trillion yuan, an increase of 12.0 trillion yuan over that at the beginning of 2010, or 1.1 trillion yuan less than that of 2009.

At present, the national economy is in a crucial period of turning from recovery to steady growth. According to the general arrangements of the Central Economic Work Conference, we should insist on taking scientific development as the theme and transformation of economic development mode as the mainline, carry out the pro-active fiscal policy and prudent monetary policy and improve the relevance, flexibility and effectiveness of macro-control. We should also accelerate the process of economic structure adjustment, promote independent innovation, pay special attention to energy saving and emission reduction, deepen the reform and opening-up, guarantee and improve the livelihood of people and consolidate the achievements of countering the impact of global financial crisis. Only by doing so could we achieve a steady and fast economic growth and promote social harmony and stability.

In case of any differences between English translation and the original Chinese text, the Chinese edition shall prevail.

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