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Growth of middle class means major changes for China

By He Wei in Shanghai | China Daily | Updated: 2017-10-02 07:46

Substance, not style, increasingly important for nation's shoppers

China's middle class is expanding at an unprecedented pace.

According to McKinsey & Co, by 2020 more than three-quarters of China's urban consumers will earn 60,000 yuan to 229,000 yuan ($9,037 to $34,495) per year. That translates into nearly 400 million people who are considered by the consultancy to fall into the middle-class category.

Growth of middle class means major changes for China

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