China’s middle class stands at about 400m and is still expanding1. That’s far bigger than the US, which has a total population of 330m, although average incomes measured by GDP per capita are higher in the US.
What if GDP per capita would rise to the same level as the US?
This statistics shows an impressive growth potential for our China ETF.
Share of Chinese Urban Households (%)
Source: National Bureau of Statistics of China, McKinsey Global Institute Analysis. Some figures do not sum to 100% because of rounding.
1Source: South China Morning Post.