Market analysis: Chinese middle class
Background: 300 million People In China, the middle class is defined as households mainly concentrated in major cities, engaged in decent jobs with good educational background and professional qualifications. They typically earn an annual income of more than 60,000 RMB, own at least one house and one private car, and enjoy an above average to average consumption level. According to statistics, there are over 300 million people in China that are qualified to be considered part of this above-defined middle-class. This demographic covers about 25% of the Chinese population – as large as the entire population of the United States. The number is predicted to reach 700 million within the next […]