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: 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. Between 1979 and late 2015, the country imposed a limit of one child on most Chinese families, and skewed gender ratios date back to the early 1980s. China now has 33 million more men than women, many of whom may never find a partner. Among the working-age population, single people and smaller households tend to have more discretionary spending power. Travelers are few — but they spend a lot
Only 4 percent of the Chinese population hold a passport, compared to 35 percent of Americans — but that 4 percent spends almost $200 billion overseas annually, more than any other nation, according to Goldman Sachs. China's urban middle class dominates tourism spending, and Goldman Sachs expects 12 percent of the population to hold a passport within a decade.