A Map to Middle Incomers’Havens.docVIP

A Map to Middle Incomers’Havens 　　The term “middle income” first started to appear in Chinese government documents in 2010. China’s concept of a “middle-income group” was borne of its goal to complete the building of a moderately well-off society in all aspects by 2020. 　　The definition of middle income is in a process of continual evolution in tandem with changes in a country’s society and its economic structure. In China， the middle-income bracket is characterized by three main attributes. To begin with， their incomes are moderately above the average level， and their living conditions and sources of income are stable. Next， they work in a whitecollar environment. And finally， they possess roughly similar values and codes of conduct. 　　Middle-income earners are not only capable of ensuring the basic needs of their whole family， but also enjoy a surplus of purchasing power to achieve development and entertainment goals. 　　The history of human society’s development shows that when middle-income earners encompass the majority of a nation’s population， its social and economic development tends to stabilize as well. The consequent“olive-shaped” income structure is a goal pursued by all governments. 　　However， China is far from achieving this target， as it is still composed of a “pyramid” pattern. 　　According to the Global Wealth Report 2015 released by the Credit Suisse Research Institute， people at the middle-income level or above only account for 11.3 percent of China’s adult population， which implies that a majority of Chinese people are still living below the cut-off line. 　　It therefore came as no surprise that in May， President Xi Jinping convened a high-profile meeting focusing on how to boost China’s middle-income group， reflecting the government’s commitment to this objective. 　　Although the Global Wealth Report 2015 put China’s middle-income population at 109 million， based on calculations derived from household income released by China’s National