I stand corrected, I had overestimated the size of China's middle class. Thanks Jean-Pierre. Steve.
Its middle class population (defined as those with annual income of at least US$17,000) has now reached more than 100 million,[161] while the number of super-rich individuals worth more than 10 million yuan (US$1.5 million) is estimated to be 825,000 according to Hurun Report.[162]The economic definition for a middle-class family in China is one who has an annual average household income of over 150,000 RMB (about USD 17,000) and household assets of over 620,000 RMB (about USD 80,000).
The number of China’s middle-class is estimated by some to reach 400 million in less than 20 years time.
Most middle-class people fall into the following 4 categories:
a) self-employed entrepreneurs,
b) managerial staff at foreign companies,
c) middle and senior managers at state-owned enterprises,
d) professionals
China’s middle-class needs to be reached with the gospel (1) | Asia Gospel Missions Resources
The standard of living in the country is much lower. The Chinese middle class is about 300 million people and doing very nicely.
