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| China's Newly Rich Earn 200,000 Yuan A Year |
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In China, 20 percent of the newly rich people have annual incomes topping 200,000 yuan (US$24,700), according to a survey by a market-monitoring organ. The household incomes of the newly rich vary from 80,000 yuan (US$9,900) to 1 million yuan (US$123,500) a year. Among them, 81.1 percent rest at the third level, which earns an annual salary of 80,000 yuan (US$9,900) to 200,000 yuan (US$25,000), the Sinomonitor International survey shows. The newly rich, ranging in age from 18 to 45, were mostly born in the 1970s. Also well-educated, half of them have college diplomas and 12 percent have master's degrees, said Liu Rong, vice president of Sinomonitor International, a Sino-foreign market monitoring joint venture. In Beijing, Shanghai and Guangdong, the average monthly incomes of the three levels of newly rich salary owners stand at 35,000 yuan (US$4,300), 16,000 yuan (US$2,000) and 7,500 yuan (US$926). The Chinese newly rich are high-income earners who have popped up in recent years. Their annual salaries are usually around 80,000 yuan (US$9,900) to 1 million yuan (US$123,500), said Liu. (Xinhua News Agency January 15, 2006)
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