China Aims to Grow Its Middle Class – Henry Sanderson

From AP:

China hopes its middle class will expand to more than half of its total population by 2020, a Communist Party planner said Wednesday.

…Middle class is classified by the government as a family with a household income of between $8,000 and $27,000 a year, Zheng said. Taking into account price changes, authorities project that by 2020 a little more than half of the country’s families will be middle class, and 78 percent of those will be living in cities, he said….[Full Text]