China’s middle class to rise to more than third of population by 2030, research firm says
About 35 per cent of the population will have in excess of US$10,000 of annual disposable income by 2030, up from about 10 per cent today, according to the report released on Wednesday by The Economist Intelligence Unit. Private consumption, which includes both goods and services, as well as rent, is expected to grow by 5.5 per cent on average each year, faster than the expansion of the country’s gross domestic product, according to the report.
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