What is the average income in China?
In China, the average monthly salary is 29,300 Yuan (Chinese Yuan), equating to USD 4,214 (US dollars) per month according to the exchange rate in May 2023 (according to Salary Explorer).
BEIJING, Jan. 17 -- China's per capita disposable income was 39,218 yuan (about 5,511 U.S. dollars) in 2023, up 6.3 percent year on year in nominal terms, official data showed Wednesday.
1) Average Salary in China, Country-wide
The 25th percentile of recruitment salaries is ¥6,001 RMB ($836 USD)/month, The median is ¥8,001 RMB ($1,115 USD)/month, The 75th percentile is ¥12,001 RMB ($1,672 USD)/month.
Wages in China averaged 16963.76 CNY/Year from 1952 until 2022, reaching an all time high of 114029.00 CNY/Year in 2022 and a record low of 445.00 CNY/Year in 1952.
Minimum wages in China continue to rise. As of February 19, 2024, Shanghai has the highest monthly minimum wage among 31 provinces (RMB 2,690/US$370 per month), and Beijing has the highest hourly minimum wage (RMB 26.4/US$3.7 per hour).
In some of the rural third tier regions of China, that would be someone's monthly salary. But in most of urban China, it wouldn't go very far. In Beijing and Shanghai, where I used to live, 100 US Dollars will actually go no further than they would in New York City or Los Angeles.
Millionaires are defined as individuals with personal wealth of over 10 million yuan, and super-rich are defined as individuals with personal wealth of 100 million yuan or above. One yuan equals approximately 0.14 U.S. dollars and 0.13 euros (as of July 2023).
In 2022, the average price for residential real estate in Shenzhen was over 55.700 thousand yuan per square meter. This was the highest price among all major cities in China, with the average price across the country amounting to 17,359 yuan per square meter.
Healthcare in China is free for Chinese citizens and Chinese permanent residents. If you're a foreigner with permanent resident status you may be able to access government supported public health insurance. If not, you'll need private health cover.
China has an upper middle income, developing, mixed, socialist market economy incorporating industrial policies and strategic five-year plans. It is the world's second largest economy by nominal GDP, behind the United States, and the world's largest economy since 2016 when measured by purchasing power parity (PPP).
How much is rent in China?
Cost of Renting in China: $300 – $500 per month
Well, over in China, you can pay as little as $300 and as much as $700 per month depending on where you live. The major cities will have the higher rents, while the outskirts of the city are much cheaper.
The average pay for a Medical Doctor is CNY 716,819 a year and CNY 345 an hour in China. The average salary range for a Medical Doctor is between CNY 475,968 and CNY 911,793.
| Markets | Edit |
|---|---|
| Loaf of Fresh White Bread (1 lb) | 10.60¥ |
| Rice (white), (1 lb) | 3.14¥ |
| Eggs (regular) (12) | 12.55¥ |
| Local Cheese (1 lb) | 42.37¥ |
Monthly surveyed urban unemployment rate in China February 2022-2024. In February 2024, the surveyed unemployment rate in urban areas of China ranged at 5.3 percent, up from 5.2 percent in the previous month. The quarterly unemployment rate in China stood at 5.2 percent in the second quarter of 2023.
From the bustling metropolises of Shanghai and Beijing to the ancient city of Xi'an, expats moving to China can expect a fresh and enriching lifestyle, with a high standard of living and ample opportunity to experience Chinese culture – not to mention its world-famous cuisine.
| Characteristic | Minimum level | Maximum level |
|---|---|---|
| Beijing | 26.4 | 26.4 |
| Tianjin | 24.4 | 24.4 |
| Zhejiang | 20 | 24 |
| Shanghai | 24 | 24 |
The cost of living in China can vary by location and type of purchase. On average, China's cost of living is 45% lower than the U.S according to Numbeo. Rent in China is 60% lower than the U.S. on average. But the cost of items like cars and private school tuition are actually very similar.
$1000usd is approximately 7000元, which for most parts of China would be equivalent to $7000usd of spending power. For the average Chinese this is a significant amount of money, for a poor person in rural China it can be life changing type of money.
1 USD = 7.2373 CNY Apr 11, 2024 19:56 UTC
Check the currency rates against all the world currencies here.
As of 2020, China has succeeded in eradicating absolute poverty, but not the poverty defined for upper middle-income countries which China belongs to. China still has around 13% of its population falling below this poverty line of $5.50 per day in 2020.
What salary is considered upper class in China?
In China, a high-income family in 2020 will have an annual income of around 1 million yuan, or about $150,000. A person must make above 9,000 USD annually (about 60,000 yuan) to be considered to have reached the informal income level.
Measured at market exchange rates, China's GDP was $18.3 trillion in 2022, 73 percent of the GDP of the United States and 10 times more than the 7 percent of US GDP it registered in 1990.
Homelessness in China is a significant social issue. In 2011, there were approximately 2.41 million homeless adults and 179,000 homeless children living in the country. However, one publication estimated that there were between 1 to 1.5 million homeless children in China in 2012.
Yes, China does allow foreigners to buy property. But there are a few requirements you'll need to meet as a US citizen venturing into the Chinese property market. These are the country-wide rules, but there may also be other requirements depending on which region you're looking to buy in.
Housing prices are more than 30,000 RMB ($4,600) per square metre in Shanghai. Meanwhile in upmarket districts of Beijing, a three-bedroom house costs on average of 6.7 million RMB ($1.02 million). In 2018, the average price-to-income ratio for a house in one of China's big cities was a startling 34.9 years.
