The explosive growth of chinas emerging middle class has brought sweeping economic change and social transformation and its not over yet by 2022 our research suggests more than 75 percent of chinas urban consumers will earn 60000 to 229000 renminbi 9000 to 34000 a year 1 in purchasing power parity terms that range is between the average income of brazil and italy. Chinas middle class is expanding at an unprecedented pace according to mckinsey co by 2020 more than three quarters of chinas urban consumers will earn 60000 yuan to 229000 yuan 9037 to . Chinas relatively new middle class consists of a rapidly shifting diverse population at present chinas lower middle class accounts for 44 percent of the total middle class as the middle class matures however the number of people in the upper middle class households that earn 12000 to 25000 will spike dramatically. How will chinas reforms change the world economy china has been a growth engine and now its also a huge market according to mckinsey global institute figures chinas middle class is 230 million people now going to 630 million people in 10 years this is an economy with an enormous amount of growth in purchasing power. The rise of the middle class in china and its impact on the chinese and world economies executive summary the magnitude of chinas middle class growth is transforming the nation as recently as 2000 only 4 of urban households in china was middle class1 by 2012 that share had soared to 68 and by 2022 we expect chinas mid
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