In China, like everywhere, there are many different opinions on the criteria of what being rich means. any people think that you are rich erstwhile you own a property is at least 100 million RMB (about PLN 56,345 million), others think that 10 million RMB (PLN 5,634 million) is enough, and there are those who think that 1 million RMB (about PLN 563,000) is adequate to be considered a rich person.
Everyone has a different opinion.
W In fact, China's rich is the 1 who has no debts. The most crucial indicator of wealth is the state of savings.
Central People's Bank of China (chin. 中国人民银行) systematically examines and publishes information on the state of Chinese savings.
According to 1 fresh study, the Chinese were divided into 9 groups just for their savings. And like this:
(1) It's a group with no savings. It accounts for about 13% of the full population and is mainly indebted. In 90% of cases, this is property debt.
(2) Persons with little than 10.000 RMB (approx. PLN 5.564) savings. That's about 9 percent of the population. The origin of savings for these households is 95% salary, and the remaining 5% comes from support from parents, relatives and friends. These savings are almost exclusively held in banks. The income of these families is adequate to cover regular expenses. They besides search to grow their financial management cognition and skills to defend their basic livelihoods.
(3) The 3rd group is households with savings of between 10.100 RMB (approx. PLN 5.620) and 100.000 RMB (approx. PLN 55.635), which represents 32% of the full population. The origin of savings in this section is 90% salary, 5% from friends and relatives, and another 5% from side companies. Most savings are placed in AliPay (chin. 支付宝), WeChatPay (chin. 微信支付), or Coins Money Pass (chin. 零钱通行证). They aspire to improve their financial situation and build wealth through savings, cognition and a clear plan for the future.
(4) 4th group – from 100.100 RMB to 200,000 RMB (c. 55.707-111.300 PLN). People in this group are classified as mediate class. They represent 15% of all residents. 80 percent of their savings come from salary, and the remainder are made up of household support and financial income respectively (the stock). They have a higher standard of surviving and want a better quality of life.
(5) 5th group: savings ranging from 200.100 RMB to 300,000 RMB (approx. 111.350 to 167.000 PLN). They account for 11% of the full population. These savings mainly consist of part of the salaries of all household members and investments in shares and funds.
(6) The sixth group – from 300.100 RMB to 400,000 RMB (ca. 167.000 to PLN 222.592). It accounts for about 5 percent of the country's population. Their savings come from advanced salaries and extra wages. They usually entrust their savings management to financial professionals.
(7) Seventh group – from 400.100 RMB to 500,000 RMB (c. 222.628 to 278.218 PLN). About 3 percent of the population. As above, the savings come from own salaries and household members and investing in their own industry, where they execute managerial roles.
(8) Eighth group – has savings from 500.100 RMB to 1 million RMB (approx. 278.274 to 556.382 PLN), is 6% of the population. The origin of saved money is: salaries, funds, shares, economical activity. People in this group have no debts and are owners of 2 apartments.
(9) The ninth group – over 1 million RMB, is besides 6% of the population. Their savings come from salaries and bonuses (heads of companies), capital and stock operations.
This analysis shows that savings of 88% of the population do not scope half a million RMBs, and banks return deposits from this size if they declare bankruptcy (which did not happen in the past of the PRC).
Other conclusions and information on the savings of China's population:
- In the first 4th of 2024 the savings reached 108,000 RMB (about PLN 60.093) per capita. On this basis, it can be concluded that the average three-person household reaches savings of 216.000 RMB (about PLN 120,186) per year.
- Civil servants and public administration in the most developed areas of the country can gain income from 150.000 RMB to 200,000 RMB and are able to save min. 50.000 RMB (approx. PLN 27.822) and in the case of the household is 100.000 RMB (approx. PLN 55.635) per year;
- Migrant workers with an average wage of 4.000 RMB (approx. PLN 2.225) accomplish yearly income of little than 50.000 RMB. usually 60% of their income is spent on surviving costs. Savings may be little than 20.000 RMB (about PLN 11.128) per year.
At the end of the analysis – central bank council, what to do to have a quiet and safe life.
- First: keep reasonable spending habits, live within your limits and avoid unreasonable spending.
- Second: Build your reserves and save 25 percent of your income each month.
- Third: Invest in yourself, both in terms of skill and knowledge, which is the most effective way to make wealth.
Nothing to add.
Based on:
163.com;
mbd.baidu.com;
baijiahao.baidu.com;
Author: 梁安基 Andrzej Z. Liang, 上海 Shanghai, 中国 China
Email: [email protected]
Editorial: Leszek B.
Email: [email protected]
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