Incomes rise but problems abound
By Winny Wang |
August 4, 2011, Thursday
|
Print Edition
Print Edition
MIDDLE-INCOME earners in China's urban areas have exceeded 37 percent of its urban population so far, but they still face rising housing prices, insufficient money in their pension funds and inadequate community medical services, a report said yesterday.
Also, there are 50 million poor people, with an annual income between 7,500 yuan and 8,500 yuan (US$1,165 and US$1,321) per capita, accounting for 8 percent of the urban population, the Chinese Academy of Social Sciences said in the report about city development.
Beijing's middle-income earners accounted for 46 percent of its population and Shanghai's took up 38 percent, the report said, without giving a definition of middle-income earners. The academy predicted that the size of middle-income earners in the country may grow by 2.3 percent annually from 2010 to 2025, reaching 47 percent in 2020 and surpassing 50 percent in 2023.
Their spending made up 49.3 percent of the total spending in urban areas in 2009.
It also said the urban residents are faced with problems, including soaring housing prices, insufficient pension funds, poverty and inadequate community clinic services.
"China has stepped into an aging society with people older than 60 accounting for more than 9 percent of the total population, but the public infrastructure is insufficient to meet their needs," said Song Yingchang, a researcher at the academy.
"About 35 percent of people chose general hospitals while only 6.87 percent chose community clinics, which is below our aim to get more people to be treated in clinics."
Meanwhile, China plans to build 10 million units of affordable housing this year and 36 million by 2015 to offer alternatives for low and middle-income groups in cities where average property prices almost doubled over the past two years.
Also, there are 50 million poor people, with an annual income between 7,500 yuan and 8,500 yuan (US$1,165 and US$1,321) per capita, accounting for 8 percent of the urban population, the Chinese Academy of Social Sciences said in the report about city development.
Beijing's middle-income earners accounted for 46 percent of its population and Shanghai's took up 38 percent, the report said, without giving a definition of middle-income earners. The academy predicted that the size of middle-income earners in the country may grow by 2.3 percent annually from 2010 to 2025, reaching 47 percent in 2020 and surpassing 50 percent in 2023.
Their spending made up 49.3 percent of the total spending in urban areas in 2009.
It also said the urban residents are faced with problems, including soaring housing prices, insufficient pension funds, poverty and inadequate community clinic services.
"China has stepped into an aging society with people older than 60 accounting for more than 9 percent of the total population, but the public infrastructure is insufficient to meet their needs," said Song Yingchang, a researcher at the academy.
"About 35 percent of people chose general hospitals while only 6.87 percent chose community clinics, which is below our aim to get more people to be treated in clinics."
Meanwhile, China plans to build 10 million units of affordable housing this year and 36 million by 2015 to offer alternatives for low and middle-income groups in cities where average property prices almost doubled over the past two years.
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