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?
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