Title: China's middle-class boom - Jun. 26, 2012
Headings: China's middle-class boom
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Content: The official government figures also don't include rampant under-the-table payments, large cash gifts around Chinese New Year, bribes or land deals. Professor Wang Xiaolu of the China Reform Foundation, in a report for Credit Suisse, estimated in 2008 that the average income was actually 90% higher than the government reported. "Somehow people always seem to have a lot of cash, even though official data shows income at about $3,000 per capita," said Wang. " There's a lot of grey income in China." First Published: June 26, 2012: 5:19 AM ET























































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