Title: Here's What China's Middle Classes Really Earn — and Spend - Bloomberg
Headings: Here's What China's Middle Classes Really Earn — and Spend
Business
Here's What China's Middle Classes Really Earn — and Spend
Most Chinese still earn and spend much less than Americans
Families are smaller than ever before
Travelers are few — but they spend a lot
China's middle class loves music
Online shopping is growing fast
They are spending more and more on health

Content: So while China's taste for luxury goods may attract more attention, the country's appetite for staples says more about daily life for most people. Here is a snapshot of how Chinese consumers are living today. Most Chinese still earn and spend much less than Americans
Beijing recently overtook New York as the 'Billionaire Capital of the World' and country-to-city migration is at its highest level in recent history. But China's average annual wage was 56,360 yuan ($8,655) in 2014, and Goldman Sachs estimates that 387 million rural workers — half the working population — earn about $2,000 a year. The average Chinese consumer spends $7 a day, according to Goldman Sachs. Food and clothing make up nearly half of all personal spending, with 9.2 percent allocated to recreational activities like travel, dining out, sports and video games. The average American spends $97 a day, 17.3 percent of it on recreation. Families are smaller than ever before
There were less than three people in the average Chinese family home in 2014, down from about five in the 1950s. Gender imbalance in China is also the worst in the world: about 116 boys are born for every 100 girls, against a global average of 107 boys to 100 girls.