China's Richest 1 Percent Hold 70 Percent Of Their Nation's Private Wealth

[s002wjh]

for 1st tier city deweler. people can earn 5000-20k RMB per month depend on education, experience etc etc. an IT with some experience can earn about 10k RMB/month or more, in 2nd-3rd tier it drop some about 4k-8k issish. i know few chinese friends whos getting degree in US that work in china before getting around 8k-12k/month in dailang, a coastal city. so $10k US dollar a year is typical average income for middile class, maybe a bit lower than average.

 

[Ray]

for 1st tier city deweler. people can earn 5000-20k RMB per month depend on education, experience etc etc. an IT with some experience can earn about 10k RMB/month or more, in 2nd-3rd tier it drop some about 4k-8k issish. i know few chinese friends whos getting degree in US that work in china before getting around 8k-12k/month in dailang, a coastal city. so $10k US dollar a year is typical average income for middile class, maybe a bit lower than average.

That is nice.

Any statistics from the cities of the same for their population, giving the percentage of peoples' earnings?

 

[rockdog]

for 1st tier city deweler. people can earn 5000-20k RMB per month depend on education, experience etc etc. an IT with some experience can earn about 10k RMB/month or more, in 2nd-3rd tier it drop some about 4k-8k issish. i know few chinese friends whos getting degree in US that work in china before getting around 8k-12k/month in dailang, a coastal city. so $10k US dollar a year is typical average income for middile class, maybe a bit lower than average.

I am running a web development outsourcing company (with 20 employees) in Wuhan City, the typical Tier2 city, let me give you some data:

Wuhan salary level
1. Senior Software Engineer (5 yrs + experiences): $USD1500/month
2. Junior Software Engineer (1-3 yrs experiences): $USD 800-10000/month

In Wuhan, we normally call $USD1000-1500/month level guy as mid-class
and $USD 800-10000/month below as Salary-Working-Class


And the salary level in Shanghai:
1. Senior Software Engineer (5 yrs + experiences): $USD 2000-3000/month
2. Junior Software Engineer (1-3 yrs experiences): $USD 800-15000/month

 

[badguy2000]

The countries with the lowest GINI scores are the rich West and North European countries.

Regardless of India's low per capita income, a low GINI score is always good since it means less socioeconomic friction due by wealth disparities. Countries like China with high wealth disparities might have a revolution on their hands if they're not careful (ironic isn't it?).

as I posted before, India's GINI score is caculated based on household expenditure while the rest of the world is caculated based on household income.....

Comparing India's GINI score with the that of the rest world is just like comparing apples with oranges.

 

[badguy2000]

"mid-class" usually means "The petty bourgeoisie" in CHina. it is quite different from "mid-class" in india.

Geneally speaking ,"mid-class" in India is equal to "working class" in CHina.

I live in a Tier4 city.

In the city ,"working class" families ( usually there are 3 members: parents and 1 kid) earn 50K-150KRMB(8K-24K USD) every year.

such "working class" families usually can afford most household applances such as TV sets,washing machines,refrigerators,AC and PC....and now it is not quite hard for them to buy one car.....

"working class" families usually have one house with lots of banks loans, however, they have to pay house-loans to banks every month...they have to spend decades paying off house-loans .


however, "mid-class" here of course should have more income and assets than "working calss".
In my eyes, a typical "mid-class" family in the city should have more than 2 houses with few bank loans and can earn 200K RMB(30K USD). they can easiy afford cars and regular trips...and their total assets is steadly growing....

 

[s002wjh]

That is nice.

Any statistics from the cities of the same for their population, giving the percentage of peoples' earnings?

most city with few hundred thousands to million people are consider 3-4th tier city. and most middile class can earn from 4k-10kRMB about 700-1600 USD in lower tier city, depend on jobs, and other factors(some call $700/month is working class, but i consider manufacture worker as working class). alot manufacture workers earn about 1500-2000 yuan/month or maybe more, convert ratio is about 6.4 to 1 USD. this is true for most urban environment. 1st-2nd tier cities usually earn more, but cost living also higher.
i think the most expensive things in china now is housing. a decent apartment in beijing can cost million yuan or more. food is pretty cheap, cloth you can buy from street vendor or high end shop, price varies from 20yuan to thousands yuan for typical cloth. gas is about same as US, maybe a bit expensive over there.

so overall chinese middle class is about 1/3 to 1/5 of overal US middle class wage or living standard.