Upper Class Income China

A tiny group of affluent consumers whose household income exceeds 34 000 accounts for only 2 percent of the urban population or 4 26 million households.

Upper class income china. Mckinsey uses a range of 11 500 to 43 000 rmb 75 000 to 280 000 per year. For every 1 spent by the middle class at restaurants china s upper middle class spends 1 59. The average was 21 586 95 yuan and the median was 18 371 34 yuan suggesting that income inequality is not as severe in china as it is in the world. Upper middle class households with.

China has fewer than 14 million such households representing only 6 percent of the urban population. Asia s upper middle class consumers in general do more shopping outside their home countries than middle class consumers do. Home career and income extra income how to profit from china s growing upper class even if you don t speak chinese by carrie kirby on 14 may 2018 0 comments tweet. China s relatively new middle class consists of a rapidly shifting diverse population.

China s growing upper middle class to drive consumption by 2020 research finds households with between us 24 000 and us 46 000 in disposable income to account for most of incremental growth in. We used a provincial level consumer price index cpi to obtain real disposable income for different provinces across china. Data for upper middle income china from the world bank. For every 1 spent by the middle class on cosmetics upper middle class consumers spend 1 60.

For instance the chinese government defines incomes ranging from 7 250 to 62 500 rmb 60 000 to 500 000 per year as middle class. As the middle class matures however the number of people in the upper middle class households that earn 12 000 to 25 000 will spike dramatically. To facilitate cross country comparisons the world bank uses a dollar per day amount adjusted based on purchasing power parity ppp.