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HK 2016 Gini Coefficient upon Original Household Income Up to 0.539
The Census and Statistics Department (C&SD) released the results of the study on household income distribution in Hong Kong in 2016 today in the "Thematic Report on Household Incom...
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HK 2016 Gini Coefficient upon Original Household Income Up to 0.539
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The Census and Statistics Department (C&SD) released the results of the study on household income distribution in Hong Kong in 2016 today in the "Thematic Report on Household Income Distribution in Hong Kong".
Among the various income disparity measures, the Gini Coefficient is more widely known and commonly used by other economies. The thematic report thus adopted Gini Coefficient (covering all domestic households and the Hong Kong resident population) to analyse the income disparity situations under different measurement concepts of income.
The Government spokesman said that with the steady economic growth and tight labour market over the past five years, together with the implementation of the Statutory Minimum Wage and subsequent upratings, employment income of all strata of society improved in real terms, and more notable improvement was observed for the grass-roots workers. Upon narrowed employment income disparity, the Gini Coefficient based on original monthly household income for economically active households decreased to 0.482 in 2016, down by 0.007 from 0.489 in 2011.
Nevertheless, the accelerating population ageing in recent years had led to increasing prominence of economically inactive households. At the same time, the number of households with one member or two members increased. Affected by these factors, the Gini Coefficient based on original monthly household income in 2016 was 0.539, up by 0.002 compared to 0.537 in 2011. The increase had slowed down when compared to the past as the narrowed income disparity for economically active households and increased government expenditure on cash social benefits during the period had offset part of the impact arising from changes in demographic and household composition.
The spokesman remarked that taxation and in-kind social benefits (including education, housing and medical) have played a significant role in household income redistribution. Hong Kong's Gini Coefficient based on post-tax post-social transfer household income was 0.473 in 2016, down by 0.002 compared to 0.475 in 2011. Together they had reduced the Gini Coefficient by 0.066 in 2016, with the reduction being larger than that in 2011 (-0.062) and 2006 (-0.058). The greater impact seen in 2016 reflects the increased strength and effectiveness of government policies in narrowing income disparity over time. Discounting the impact of both population ageing and the change in household size, the corresponding Gini Coefficient for economically active households (based on post-tax post-social transfer per capita household income) was lower, at 0.401 in 2016, significantly lower than the 0.413 in 2011.
The spokesman added that the Gini Coefficient only reflected household income distribution. Although the effects of taxation and social transfer were taken into account, it did not consider the assets owned by households and hence could not fully reflect the actual economic well-being and living conditions of some "income-poor, asset-rich" households.
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