Disecting Middle Class

Who is considered middle class? This is a subject of debate for most people.

It suggests that "middle class" is no longer an abstract concept in sociology but a strong force that could help reshape society as a whole. Political sensitiveness in China means that "middle class" can be termed in many other ways - such as "middle-income stratum," "middle-income group" or just "middle stratum." But it usually refers to a group of people with stable incomes who are capable of purchasing private houses and cars, and can afford the costs of education and holidays. In fact, the emerging "middle class" in China carries special meaning for multinationals that are counting on the huge Chinese market to boost their growth.

Based on an annual growth of one percentage point, the "middle class" people in China is expected to make up for 40 per cent of the total population in 2020, the academy report said.
According to the academy's standard, families with assets valued from 150,000 (US$18,137) to 300,000 yuan (US$36,275) can be classified as middle class.

For more information visit: http://www.chinadaily.com.cn/english/doc/2004-10/27/content_386060.htm