Are Chinese People Really Rich? The Reality of the Moderately Prosperous Society in China.

In recent years, many Chinese people travel abroad and buy luxury goods. Chanel, Hermes, Louis Vuitton and other luxury goods are all included, and they buy them in large quantities. Chinese students are often seen speeding in luxurious sports cars. In the United States, Europe, Canada, and Australia, such things are common. It gives the impression that Chinese people are all very rich.
Recently, the People's Bank of China announced that by the end of 2020, the balance of domestic household savings in the country was 14.65 trillion USD, an increase of 13.9% over the previous year. In 11 cities, the per capita savings exceeded $15,700.
The proportion of middle-income people in the total population is usually used to measure whether a country or region has achieved common prosperity. In 2020, China's middle-income population only accounted for about 25%.
In June 2020, the average median apartment unit price of the four first-tier cities of Beijing, Shanghai, Guangzhou and Shenzhen was $7,855 per square meter. In 2020, the average median salary in these four cities is $913 per month. To buy an apartment unit in a first-tier city, without any other expenses, it would cost 8.6 months of salary to buy one square meter of construction area. If you buy a 100-square-meters apartment unit, it will cost 72 years of salary.
In 2020, at the closing of the "two sessions", China’s premier Li Keqiang said that, in China, 600 million people earn less than $157 a month, shocking everyone.
On February 25 this year, Xi Jinping announced that China had achieved a "full victory" in the battle against poverty. However, the reality is that, in China many people still live below the absolute poverty line and survival has been a big challenge for them.
China has become the world's second largest economic power. China's Tiangong space station has been put into operation, and it has built two aircraft carriers. China is seemingly powerful now, but many people are still struggling to survive. They can't afford medical expenses, they can't get enough food, and they can't afford heating... The country may have become powerful, but what’s the use if the people are suffering?
#ChineseRich#ChineseIncome#Salary#Savings#LuxuryGoods#LV#Hermes#Chanel#dior#Prada#ProsperousSociety#CommonProsperity
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[samanthastar]

Countries which are actually rich don’t need to keep convincing their people that they are rich

[lalajun]

I feel sad for poor farmers in China. Literally without explanation they freely take farmers's goods without warning. I also have seen several farmers having their lands taken by force with little to no compensation.

[marieslabbert]

It breaks my heart to see the old people so mistreated. They have had incredibly difficult lives throughout the "cultural revolution" and they are still abused so much. One sees the abuse of state funds for brag projects, especially in the 3rd world countries, where a great number of their citizens live far below the poverty line.

[RayMak]

They are buying to sell. The demand of luxurious items is super high in China.

[alanadawn]

I never thought China was rich, just that the international students that come here were. There’s such a stark contrast between them and the Chinese that actually move here to live permanently. I see it amongst my friends and it was always weird to me.

Also, this is just sad. Especially all of the older people struggling to make ends meet.

[Pancakegr]

Damn, this really has me down. And there's seemingly no end in sight; people are just born into hell.

[kellynguyen]

When I see a rich Chinese kid, I told my self: who comrade child is this?

[douglasmackallor]

There is a book called "How to Lie with Statistics". But, the CCP's book is "How to Lie with Everything". This must be China's second Little Red Book.

[towec_official]

"Common Prosperity" aint that a fake word. Common prosperity means for all people living in good conditions and a healthy lifestyle.

But China's meaning common prosperity is for the rich and powerful, not for the lowerclass and poor.

Kinda sad

[yux.tn.]

9:00 i should add no one believes that poverty is gone in china...its just that no one says anything for fear of retribution...

[elusariosinnombre]

This is what poverty looks like. The only way out is economic growth, and the CCP is killing what's left of that in China.

[lalakuma]

Saying China is rich is like saying the US is rich. In reality only relatively a few people in each country are rich, and there is a massive wealth gap between the rich and everyone else.

[thebacon]

TIL a goose lay 30-50 eggs per year, so the 1, 000 eggs/year figure is a little high -- especially for the male.

[FreeAssange_]

Just travel there to see for yourselves, but you must go off track.
You'll see that a dog in my country (France) has a decent life than millions of chinese (almost 400).
All that illusions made them very frustrated, immoral and willing to do everything to earn money.
Honest, I no lie.

[yux.tn.]

most people in their 30s have a lot of debt from the mortgages in housing, also the number of impediments in china i.e hukou, tariffs on imported goods, is what led to a lot of inequality as it has created a lot of deadweight loss

[maryagawronski]

I am not rich itself. but looking at the elderly to sell goods just for food it's breaking my heart 😭😭

[freeman]

I recently lived in China and I noticed that the majority of the people are not particularly rich.

[kryts]

In Australia for a service professional, for example engineers, the salaries in the private sector are substantially higher than in the government. This is true for all professions, other than doctors as Australia has largely socialized medicine.

[davidlee]

The impression that china is rich is because of all the immigrants you see everywhere. Yes, most of them are in pretty good shape. I know this guy in his early 30s for hasn't worked a single day since I met him 2 years ago. That doesn't mean China as a whole is rich. But this gap between rich and poor happens in most countries though.

[btingey]

China’s medium income has never exceeded $350/mo... 800 million survive on half of that.