Date
17 August 2018

Expert outlines need to boost the middle class, report says

China would need an additional 200 million middle class people in order to lift the percentage of population with middle income to 40 percent within eight years from the current 25 percent, news website caixin.com cited Chi Fulin, chairman of the China Institute for Reform and Development (CIRD), as saying. At present, only around 300 million of China’s 1.3 billion population fall into the middle class category, which does not strike a reasonable balance and makes it difficult for any economic or social reforms to be successful, according to Chi. If the percentage of middle class people increases by two percentage points every year, the nation’s middle class population would reach 600 million by 2020, the report said.

– Contact HKEJ at [email protected]

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