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Post-80s generation majority of China's middle class

By Yang Yang | chinadaily.com.cn | Updated: 2017-04-24 16:10

Post-80s generation majority of China's middle class

Cheng Wei, founder and CEO of Didi Chuxing and one of China's top 10 post-80s self-made billionaires, speaks during a session at the World Economic Forum in China's port city Dalian, September 10, 2015. [Photo/Agencies]

The country's new middle class consists mainly of the post-80s generation, according to a survey conducted by zhaopin.com, a job recruitment website.

The study classifies those earning between 100,000 yuan ($14,592) and 500,000 yuan as middle class.

Compared with other countries, those in the middle class in China are much younger and about 52 percent of the 49,989 participants were post-80s generation, said Guo Sheng, the CEO and director of Zhaopin.com.

"This phenomenon is due to China's unique social evolution," Guo said.

Most of the survey participants found success in industries such as internet, finance and real estate, according to Guo.

Figures showed that 38 percent participates came from first-tier cities such as Beijing, Shanghai, Guangzhou and Shenzhen, Guo added.

The report also revealed that salary accounted for 93 percent of their total income and paying for loans, shopping and children's education occupied the top three daily expenses for China's middle class.

Meanwhile, about 95 percent of the participants said they felt anxious because they were not sure about their future and were concerned about inflation, food safety and property purchase restriction.

Obtaining a house, especially in first-tier cities, provides the middle class a great sense of security, according to the study.

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