People are becoming richer, survey shows
Print Edition
MORE than four out of five households in Shanghai are moderately well-off or even wealthier, according to a survey released yesterday.
The survey of 2,031 recipients was issued by Institute of Sociology of Shanghai Academy of Social Sciences.
According to the survey, recipients are categorized by the proportion of a household’s income spent on food — the lower the proportion, the wealthier the family.
A household spending from 41 to 50 percent of total income on food is defined as moderately well-off in the survey. More than 84 percent of those surveyed said they spent less than half their household total income on food.
The survey revealed about 52 percent of recipients saw a slight increase in personal income compared with last year, and 9.2 percent had a “huge” increase. Some 36 percent did not see any change in their income, while about 2 percent reported a decline.
The report also stated Shanghai was forming an olive-shaped income distribution structure, meaning that the majority of people in the city are of middle-income, with very rich or poor individuals a much smaller minority.
Nearly 56 percent said their annual personal income was between 51,000 to 100,000 yuan (US$7,610 to US$14,920). An estimated 14 percent people declared income of more than 100,000 yuan, while nearly 30 percent said their annual income was less than 50,000 yuan.
The survey also found a big income gap between people with different educational backgrounds, as about 21.5 percent of those interviewed who had a college education had an annual income of more than 100,000 yuan, while only 2.5 percent achieved such income without a higher education background. More than 52 percent of those without higher education said their annual income was less than 50,000 yuan, compared with 16 percent with a college education.
Liu Cheng, assistant researcher with the institute, said the general income increase and high return for higher education in labor market were related to the city’s industry upgrade and demographic shifts. “Shanghai is gradually ruling out businesses of lower added-value over the past few years, and has issued many policies to attract talent,” Liu said.
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