China’s middle class emerging as the world’s consumption engine will be over half of all online shopping by 2018

Before the late 1990s China barely had a middle class. In 2000, 5 million households made between $11,500 and $43,000 (annual income of 75,000-280,000 yuan) a year in current dollars; today 225 million do. By 2020 the ranks of the Chinese middle class may well outnumber Europeans (50 million more households should become middle class). This stunning development has boosted growth around the world and transformed China. 80% of the chinese middle class own property. Though China‚Äôs population as a whole is ageing, the middle class is getting younger. Nearly half of all people living in cities are under 35: … Continue reading China’s middle class emerging as the world’s consumption engine will be over half of all online shopping by 2018