Half of Chinese to reach middle class by 2020
Chinese experts are predicting that it will take another dozen years before half of all Chinese will be considered middle-class….and that only if the current 7% growth rate is maintained.
The bottom edge of the middle-class for Chinese is Y60,000 ($8,000).
Nearly 8 in 10 of those in the cities will be at that level by 2020 say the same experts.
The top edge - Y200,000. Just 2% of Chinese will exceed this level…but, 2% of 1.3 billion is a lot of people.
The Communist Party goals -
1. reasonable and orderly income distribution
2. middle-income making up the majority
3. absolute poverty eliminated
One more full 12-year cycle to go.
Where do you fit in?
Tags: 3980, 4237
POSTED IN: All about China
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