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Chinese middle-income earners reach 300 mln, 30% of global total [Copy link] 中文

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Post time 2018-1-9 13:42:48 |Display all floors
(China Plus) China's mid-income class has reached 300 million, accounting for 30% of the middle-income group globally, reports Outlook Weekly, a magazine hosted by Xinhua News Agency.

Chinese per capita disposable income of residents last year stood at 23,821 yuan (3664 US dollars), up 44.3% compared to that of 2012.

Though there is no unified standard of middle-income, the criteria of annual income from 3650 to 36500 US dollars issued by the World Bank is the most widely used, said National Statistics Bureau (NBS) spokesman Mao Shengyong.


According to an earlier survey published by Credit Suisse Research, there are over 1 billion people in the middle-income class worldwide, and 370 million of them are Chinese. The figure is similar to that issued by NBS.


Steady and rapid economic development in China, along with accelerating urbanization, new industries, an improving service industry and poverty-elimination efforts, have contributed to the expanding middle-income group, said Mao.


He added that with the greater middle-income group and improving income, residents will pay more attention to education, and talents will become a new pillar of economic development.

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Post time 2018-1-10 11:32:12 |Display all floors
What the definition of "the middle class"?

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Post time 2018-1-10 11:35:41 |Display all floors
According to the article, i belong to the low income class

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Medal of honor

Post time 2018-1-11 07:42:10 |Display all floors
Chinese consumers are most certainly the new Consumers of Last Resort.

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Medal of honor

Post time 2018-1-11 07:47:15 |Display all floors
Americans like to say blue or white collar. And they call pretty much everyone that has an income 'middle-class'. They seem to be changing that lately though. More and more the Americans are using the term working class. The other day I heard an American say working class and middle-class to separate middle from low income individuals/families.

China is being a bit stupid here. China should not call very poor people middle-class. It is stupid.

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Post time 2018-1-16 06:58:34 |Display all floors
China should spend more on social welfare to increase the disposable income of the population and enlarge the middle-income class in the country. The State should allocate the political and economic resources for community-based social enterprises that would provide social welfare goods and services such as childcare, maternitycare, elderlycare, nursingcare, disablecare, orphancare, etc. to local residents, These social welfare spending would then generate more economic activity  to balance consumer spending as part of the increased services component of the GDP.

Consumerism is not enough. Welfarism is needed also.

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