Report that US$295 monthly pay makes Chinese ‘middle class’ sparks outrage (2024)

FAQs

How much do Chinese middle class get paid? ›

Breakdown of annual middle class household income in China 2021-2022. As of January 2022, the largest share of Chinese middle-class families had an annual income of between 100 thousand and 300 thousand yuan per year. According to the same survey, almost 90 percent of respondents have at least one child.

In 2021, the last full year for which Beijing's National Bureau of Statistics offers data, the average Chinese worker earned 105,000 yuan a year, the equivalent of $16,153. The average American worker earned some $58,120 a year, 3.5 times his or her Chinese counterpart — still wide but not what it was.

The minimum wage in China is set locally, ranges from 830 RMB per month, 7.50 RMB per hour in Guangxi Zhuang Autonomous Region to 1,400 RMB per month, 15.2 RMB per hour in Beijing . The federal minimum wage in the United States is US$ 7.25 per hour.

In China, the average monthly wage is 29,300 Yuan (Chinese Yuan), which is equal to USD 4,534 (US dollars) per month based on the currency rate in July 2021, or USD 4,534 (US dollars) per month in the United States. On a monthly basis, the median pay in China is 31,100 Yuan (USD 4,813).

The average salary in China ranges from 7,410 Yuan per month (USD 1,066) to 131,000 Yuan (USD 18,842) per month — with 7,410 Yuan being the minimum salary and 131,100 Yuan being the maximum salary.

The new middle-class population in China has the following characteristics: Age: individuals between 25 and 40 years old. City: living in third-tier cities and above.

Credit Suisse found China's median wealth outpaced Europe's in its 2021 Global Wealth Report. The average Chinese citizen has a wealth of $26,752, around $60 more than the average European. Chinese wealth has surged in the past two decades, with median wealth per adult growing more than eight-fold.

How much is rent in China? Depends where you are but rent in a shared apartment can amount to 2,500 RMB to 3,500 RMB for a shared apartment in a Tier 1 city like Bejing or Shanghai. Additionally having your own studio can cost you around 4,000 RMB.

Already a member? Millionaires are defined as individuals with personal wealth of over 10 million yuan, and super-rich are defined as individuals with personal wealth of 100 million yuan or above. One yuan equals approximately 0.16 U.S. dollars and 0.14 euros (as of April 2022).

As of April 12, 2023, Shanghai has the highest monthly minimum wage among 31 provinces (RMB 2,590/US$400 per month), and Beijing has the highest hourly minimum wage (RMB 25.3/US$3.9 per hour).

What is the minimum wage dollar in China? ›

China: $400 – $500 per month

In fact, over in the USA, you probably had to put out $800 per month minimum for an apartment unless you were still living rent free with mom and dad.

The exception to cheap groceries in China is dairy products. One gallon of milk costs $7.20 to $8.80 and a pound of local cheese costs $5.55 to $6.75.

Is living in China safe? Yes, many expats, especially women, find living in China is much safer than in cities like London or New York. Street harassment and catcalling is virtually unheard of for foreigners, and streets tend to be well lit at night.

New workers will be offered a salary of 30 yuan ($4) per hour, according to the post. Last Wednesday, Chinese authorities imposed a seven-day lockdown on the manufacturing zone that houses the Foxconn plant.

A monthly or hourly rate of pay may also be used to determine a salary. Around RMB 24,000 ($3,700) per month is a fair pay for an expat in China. The amount of money you make is also influenced by where you live, since various regions have varying wage scales.

The average gross annual wage per full-time employee in the USA was $74,738 in 2021, or around $6,228 per month ($4,648/year more than in the previous year).

China is seeking to escape the middle-income trap while challenging the US's security and economic architecture in Asia – which has several major East Asian economies tied together. Beijing can't escape the middle-income trap in the current geopolitical environment.

Nine-year compulsory education policy in China enables students over six years old nationwide to have free education at both primary schools (grade 1 to 6) and junior secondary schools (grade 7 to 9). The policy is funded by government, tuition is free. Schools still charge miscellaneous fees.

What does China's middle class look like? ›

While there is no standard definition of “middle class,” most metrics use income bands to differentiate between economic classes. 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.

According Hurun, the average Chinese millionaire is 39 years old, a full 15 years younger than your average millionaire in the US. There's around 960,000 millionaires in China, a land of 1.4 billion inhabitants.

Estimated Monthly Living Costs in China

A single expat is likely to spend around $1300 a month on average (in first-tier cities). This amount includes a decent home and dining out a couple of times a week.

A family of four estimated monthly costs are 2,021.2$ (14,401.0¥) without rent. A single person estimated monthly costs are 558.9$ (3,982.3¥) without rent. Cost of living in China is, on average, 49.7% lower than in United States. Rent in China is, on average, 65.5% lower than in United States.

One example is the McDonald's Big Mac. It costs about 21.70 yuan in China and $5.71 in America, according to prices collected by The Economist.

Based on that figure, an annual income of $500,000 or more would make you rich. The Economic Policy Institute uses a different baseline to determine who constitutes the top 1% and the top 5%. For 2021, you're in the top 1% if you earn $819,324 or more each year. The top 5% of income earners make $335,891 per year.

$1000usd is approximately 7000元, which for most parts of China would be equivalent to $7000usd of spending power. For the average Chinese this is a significant amount of money, for a poor person in rural China it can be life changing type of money. What food can I buy with 1 dollar in China? 1$ is about 6.4 RMB.

How much does a meal cost in China? ›

Lunch/Dinner/Supper - 20–80 yuan (3–12.5 USD) Rice and noodles are the main food staples in China and they often appear on the table for mid-day and evening meals. You can also order dishes and rice, which cost about 20–40 yuan per dish. Reckon on one dish per person.

The Chinese government makes it easier for factories to employ large numbers of workers by keeping the employers costs low. This is by reducing leases, charges fo land use, electricity, permits, etc. Labor's wage is decided by labor market economics.

To a reasonable level of accuracy there's no one in China in the bottom 10% of the world's population by wealth. And yet there's some 10% of those global poor in North America, and another 20% or so in Europe. So, yes, it really is true that there're more poor people in America (and Europe) than there are in China.

The Gini coefficient, one of the most widely used metrics of inequality, shows that in 2019 the United States (0.481) and China (0.465) both still have highly unequal income distributions in absolute terms and relative to other countries.

China's middle class is now the biggest in the world, and growing much faster than America's, according to research by Credit Suisse. There are 109 million Chinese with wealth of between $50,000 and $500,000. Since 2000, twice as many Chinese as Americans have joined the middle class.

Nevertheless, according to Statista, in 2021, an average Chinese consumed about 13kg of dairy products per year, which equals less than one-third of the global average.

How much is a car in China? ›

This statistic shows the average prices of used cars sold in China from 2010 to 2019. In 2019, the average price of a second-hand vehicle sold in China was around 62,700 yuan, up from about 62,200 yuan in the previous year.

Living in China as an American can be a wonderful, beautiful thing, but it isn't without its trials. The food might be a little intimidating, since norms are quite different from the US. The cultural nuances might seem endearing at first, but you might find yourself frustrated at the cultural disconnect at other times.

How Does the Healthcare System Work in China? China does have free public healthcare which is under the country's social insurance plan. The healthcare system provides basic coverage for the majority of the native population and, in most cases, expats as well. However, it will depend on the region you reside in.

The 11 best places for expats to live in China are Hangzhou, Shanghai, Beijing, Shenzhen, Chengdu, Xi'an, Qingdao, Kunming, Tianjin, Nanjing, and Fuzhou.

After six months of labor negotiations, KFC China raised minimum monthly wages to approximately $0.82 hourly ($131.70 per month) reports China Daily.

Before we get started, let's do the math: 10,000 RMB is about 1,500 USD, a salary of about 18,000 USD per year. While this figure in the US, Canada, the UK or Australia would be, by many standards, quite low, in China it's actually not that bad.

The World Bank defines a high-income nation as one with a nominal gross national income (GNI) per capita above $13,205. China logged in at $12,608 last year, the National Bureau of Statistics reported.

What is the Chinese highest paid? ›

CEO or Chef Executive Officer is among the highest paying job in China. There are multiple universities in China which offer excellent MBA programs that paved the way for potential aspiring CEO of the future.

How much is rent in China? Depends where you are but rent in a shared apartment can amount to 2,500 RMB to 3,500 RMB for a shared apartment in a Tier 1 city like Bejing or Shanghai. Additionally having your own studio can cost you around 4,000 RMB.

The U.S. makes up 23.93% of the total global economy, says Investopedia. The World Bank Group lists China as the second richest country in the world as of 2021, possessing a GDP of $17.734 trillion along with a GDP per capita of $12,556.3. China makes up 18.45% of the total global economy.

While China and the US are comparable in nominal GDP, there are far more wealthy individuals in America than in China. China — with a population of 1.4 billion — has 780,000 people holding assets worth $1 million or more, while the US — with a population of 332 million — has 5.27 million people in the same category.

Already a member? Millionaires are defined as individuals with personal wealth of over 10 million yuan, and super-rich are defined as individuals with personal wealth of 100 million yuan or above. One yuan equals approximately 0.16 U.S. dollars and 0.14 euros (as of April 2022).

The average pay for a Medical Doctor is CNY 680,259 a year and CNY 327 an hour in China. The average salary range for a Medical Doctor is between CNY 451,692 and CNY 865,289. On average, a Doctorate Degree is the highest level of education for a Medical Doctor.

BEIJING, April 1, 2022— Over the past 40 years, the number of people in China with incomes below $1.90 per day – the International Poverty Line as defined by the World Bank to track global extreme poverty– has fallen by close to 800 million.

The major sectors and industries driving growth for China include the services sector, agriculture, manufacturing, and technology. China is also one of the world's largest exporters and importers in the world.