Abstract
Relevant statistics show that from 1978 to 1993, after deducting price factors, China's GDP increased 3.8 times and the total income of China's urban and rural residents rose 3.4 times. The total amount of wages for urban employees rose rapidly from 56.89 billion yuan in 1978 to 477 billion yuan in 1993, and rose further to 665.64 billion yuan in 1994. The average [annual] wage level of urban employees rose from 614 yuan in 1978 to 3,371 yuan in 1993, and further to 4,538 yuan in 1994. The rates of increase of actual wages in 1993 and 1994, after deducting price factors, were 2.8 percent and 8.6 percent, respectively. The average per capita net income of the peasantry increased from 134 yuan in 1978 to 921 yuan in 1993, rising 3.4 times after deducting price factors.
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