China Urban Disposable Income Per Capita = Solid +8% Y/Y China Urban Disposable Income per Capita + Y/Y Growth ) $6,000 26% r a B e u l B ) ($, ta ne i p Li Ca r Red e ( p $3,000 13% th e m ow o r c G n I /Y e l Y b a s o p s Di n Urba $0 0% Urban Disposable Income per Capita Y/Y Growth Source: CEIC, assumes constant exchange rate of 1USD = 6.9RMB. Internet Trends 299 2019

Internet Trends 2019 - Mary Meeker - Page 146 Internet Trends 2019 - Mary Meeker Page 145 Page 147