The Middle-income Population in China Reaches More Than 300 Million People
The recently held Central Economic Work Conference noted that since the 18th CPC National Congress, historic achievements have taken place in China's economic development and historic changes have taken place, providing important material conditions for the reform and development in other fields. The meeting held that people's sense of gain and happiness have been significantly enhanced, decisive progress has also been made in fighting against poverty and the level of equalization of basic public services has increased, forming the largest middle-income population in the world. Forming the largest middle-income population in the world marks, on one hand, the achievements of China's economic development in recent years. On the other hand, it also indicates that the great potential of China's economic development in the future, especially at the consumption level. It means a vast market. The so-called middle-income population generally refers to the population whose incomes are maintained at the middle level of the whole society, whose employment is relatively stable and whose life is relatively ample. Beijing Daily once published an article by Li Peilin, vice president of the Chinese Academy of Social Sciences. According to the article, until now, there is no unified standard on the definition of middle-income population like the international poverty line. China's National Bureau of Statistics takes the annual disposable income of 90,000 to 450,000 yuan as the standard and estimates that 24.3% of middle-income families in China in 2015.