How many middle classes are there in China today?

There is no clear standard about the definition of the middle class. According to 20 19 of the National Bureau of Statistics, a family of three has an annual income of10 ~ 500,000, a car and a house, and besides basic living, it is also considered a middle class. It is not necessarily related to family savings, has a stable income, can meet the basic needs of life, and has optional spending power.

According to the standard of 20 19 of the National Bureau of Statistics, in the fourth and fifth tier cities, the annual household income is1000 ~ 200,000, which can be regarded as middle class. In first-tier cities, the annual household income needs to reach 400,000 ~ 500,000, which basically conforms to the actual situation. If the annual income reaches this standard, but there are car loans and mortgages, the consumption power will be reduced. To meet the standards of the middle class, the corresponding annual household income should be deducted from the loan.

According to Hurun Research Institute's definition of the middle class, the basic household expenditure accounts for less than 50% of the disposable income of the group with high consumption or investment ability after going out for basic living expenses such as food, clothing, housing and transportation. According to Hurun's definition of middle class, in the fourth-and fifth-tier cities, if there is a car and a house, and the annual household income reaches 200,000 to 300,000, it can reach the standard of middle class. In economically developed areas or first-and second-tier cities, there are cars and houses (no loans), and the annual household income reaches 500,000-800,000, which can basically meet the standards of the middle class.

Whether it is the standard of the National Bureau of Statistics or the standard of Hurun Research Institute, the angles of concern are basically the same, including the annual household income. After meeting the basic living expenses, they have higher spending power and investment power. Simply put, a family's disposable income, in addition to meeting the basic living consumption needs, still has the remaining money for higher consumption and investment. Whether there is a deposit or not does not involve the division of the middle class. It is normal for some middle-class families to save a little, but they have other investment assets and spending power. For families with 6.5438 billion deposits but no other sources of income, they can reach the middle-class standard in fourth-and fifth-tier cities, but may not reach it in first-and second-tier cities, and will soon be idle.