China Urban Disposable Income Per Capita = Continues to Grow @ Solid Rates China Urban Disposable Income per Capita & Y/Y % Growth, 1995 – 2015 $5,000 25% Urban Disposable Income per $) ( Capita a t $4,000 20% i Y/Y Growth ap C er $3,000 15% h e p t m w co o n Gr I /Y e l $2,000 10% Y sab o sp i D $1,000 5% an b r U $0 0% 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 19 19 19 19 19 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 Source: CEIC, assume constant FX 1USD=6.5RMB. KPCB INTERNET TRENDS 2016 | PAGE Hillhouse Capital 164