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Chinanews, Beijing, November 7 – “With the steady growth of the income of Chinese residents, by 2020, 55% of the families will earn an annual income of more than 60,000 yuan, reaching the standard for middle-income families,” said Zheng Xinli, a researcher of the Central Institute of Policies.
The standard was released by the National Statistics Bureau, saying that a family with an annual income between 60,000 yuan and 200,000 yuan can be a called middle-income family. Such families are considered to be the backbone1 of a stable and well-off society, thus it is the central government’s top concern to increase the number of middle-income families. “If the income of the Chinese people keeps growing, say, at 7% every year, the goal will definitely be met by 2020. Actually, 78% of urban families will reach the standard by then, and the proportion in rural areas will be 30%,” said Zheng. According to Zheng, 2% of Chinese families will earn an annual income of more than 200,000 yuan by then. At present, China should start to work hard to lift more lower-income people to the higher-income earners group, said he.
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