![]() Should all this play out as expected, urban-household income will at least double by 2022.īeneath the topline figures are significant shifts in consumption dynamics, which we have been tracking since 2005 using a combination of questionnaires and in-depth interviews to create a detailed portrait by income level, age profile, geographic location, and shopping behavior. 3 3.įor more, see “ What's next for China?,” January 2013. In the decade ahead, the middle class’s continued expansion will be powered by labor-market and policy initiatives that push wages up, financial reforms that stimulate employment and income growth, and the rising role of private enterprise, which should encourage productivity and help more income accrue to households. Households in this income range, which we define as middle class, spend less than 50 percent of their income on necessities and display distinctive consumer behavior. Just 4 percent of urban Chinese households were within it in 2000-but 68 percent were in 2012. In purchasing-power-parity terms, that range is between the average income of Brazil and Italy. 1 1.Īll income figures refer to annual household disposable income, in real (2010) terms. ![]() ![]() By 2022, our research suggests, more than 75 percent of China’s urban consumers will earn 60,000 to 229,000 renminbi ($9,000 to $34,000) a year. ![]() The explosive growth of China’s emerging middle class has brought sweeping economic change and social transformation-and it’s not over yet. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |