Li Keqiang says 600 Million Chinese Citizens Earn Monthly Incomes of Just USD$140

[Mk-313]

"人均可支配收入，是指扣除所得税和各种社会保险费等之外" Meaning after taxes and all various social insurances

"What Is Disposable Income?
Disposable income, also known as disposable personal income (DPI), is the amount of money that households have available for spending and saving after income taxes have been accounted for. Disposable personal income is often monitored as one of the many key economic indicators used to gauge the overall state of the economy."
https://www.investopedia.com/terms/d/disposableincome.asp"

"Really?

Some 40% of Americans would struggle to come up with even $400 to pay for an unexpected bill.

If — or, more likely, when — they’re confronted with such an expense, they’d probably have to sell something or go into debt. The now oft-cited figure comes from the Federal Reserve’s 2018 Survey of Household Economics and Decision Making, in which some 12,000 households were asked about their financial well-being.

3 things
- 1, its a survey surveys are biased. so you look at the economic data
-2, i gave u the economic data from OECD
-3, the money they struggle to pay for their "Credit card" bill is pretty much the 3X the disposable income (net income) of your 600 million population .... so yeahhhhh

 

[Zsari]

uhhh... NO. avergae disposable income means your income minus taxes. you might wana look up the definition of the subject youre teaching others the meaning of



Its $50,000 for the US. thats how we can afford to keep buying your junk and is the largest importers of your crap
https://data.oecd.org/hha/household-disposable-income.htm

You forgot to divide the household disposable income by the number of people in the household.

http://www.chinabankingnews.com/202...citizens-earn-monthly-incomes-of-just-usd140/

Premier Li Keqiang has highlighted the huge number of Chinese citizens who continue to subsist on low incomes despite China’s economic transformation since the launch of reform and liberalisation.

At the close of China’s 2020 Two Sessions congressional meeting on 28 May Li said at a press conference that “600 million people have monthly incomes of just 1000 yuan” (approx. USD$140.6).

“We should put the protection of the basic living conditions of these disadvantaged groups in an extremely prominent position, said Li.

Chinese media seized upon Li’s remarks, given that data from the National Bureau of Statistics (NBS) indicates that China’s per capita disposable income was 30,733 yuan per year, or 2,561 yuan per month.

A report from The Beijing News indicates that Beijing and Shenzhen have the highest minimum wages in the country, at 2200 yuan per month, while Anhui was the lowest at 1180 yuan.

“The Premier’s remarks send a signal, that a large number of everyday people currently face employment and income problems,” said Li Shi (李实), a professor at Beijing Normal University and executive head of the China Institute for Income Distribution (中国收入分配研究院).

“The government must think of measures, and has measures for stabilising the economy and resolving the problems of everyday people.

“There is very strong correlation between per capita GDP and per capita disposable income, and incomes of under 1000 yuan are basically concentrated in the centre and west [of China].”

The statistics is not as meaningful as you might otherwise think. As the majority of rural population lives off their land and are pretty much self-sufficient, their income are not reflective of their well being when compared to the income of the urban populations.

 

[Mk-313]

You forgot to divide the household disposable income by the number of people in the household.

actually it is about the same per/person. Because if u times it by the population it comes to about $15 trillion which is the percentage of gdp from consumer spending. aka disposable income spent. I think OECD makes no differentiation between households and per capita

https://fred.stlouisfed.org/series/A229RX0

You forgot to divide the household disposable income by the number of people in the household.



The statistics is not as meaningful as you might otherwise think. As the majority of rural population lives off their land and are pretty much self-sufficient, their income are not reflective of their well being when compared to the income of the urban populations.

statistics are more valid vs surveys . I didn’t say it’s the absolute. Also, there is no perfect information but levels of tranches how much. Set of data is more reliable than the other. E.g most of the US per person makes much more than 50k but when u include homes less/ people living on benefit etc it significantly reduces the number. But in relative terms it is much accurate gauge

 

[Lego Jangkar]

LOL.....chinese brigade trolls trying hard to deny their PM words

ok.....chinese are rich people......happy ?

 

[Mk-313]

LOL.....chinese brigade trolls trying hard to deny their PM words

ok.....chinese are rich people......happy ?

they can troll as much and they want but do it with facts. They’re just so much anecdotal info here

 

[Kai Liu]

LOL.....chinese brigade trolls trying hard to deny their PM words

ok.....chinese are rich people......happy ?

No one is denying, there are rich ones and poorer ones, the op is the same guy boasting how many Tesla sold here in China in a month...
And you don't have to worry about these people, they live way better life than 99% of your people: I mean 99%, because another 1% are Chinese which control 99% of the wealth.
https://defence.pk/pdf/threads/what...-1000-cny-income-per-month-per-capita.673126/

 

[Mk-313]

Let's see even with 141 usd per capita, and 560 usd per household

No one is denying, there are rich ones and poorer ones, the op is the same guy boasting how many Tesla sold here in China in a month...
And you don't have to worry about these people, they live way better life than 99% of your people:
https://defence.pk/pdf/threads/what...-1000-cny-income-per-month-per-capita.673126/

even on per capita terms US is 50k/year ca China’s $1600/year. The data I cited doesn’t differentiate between per person/household which is weird

 

[Zsari]

actually it is about the same per/person. Because if u times it by the population it comes to about $15 trillion which is the percentage of gdp from consumer spending. aka disposable income spent. I think OECD makes no differentiation between households and per capita

https://fred.stlouisfed.org/series/A229RX0

You forgot consumption includes debt. US average household size is 2.6, so household disposable income does need to be divided by that to get the per capita number.

 

[Mk-313]

You forgot consumption includes debt. US average household size is 2.6, so household disposable income does need to be divided by that to get the per capita number.

nothing needs to be divided when there’s a relevant source of that number
we’re not now talking about consumption we’re talking about disposable income. Which for US per person is 50k/year . Also for debt you do know that US economy is $22 trillion a year. That’s why even after citing a relevant sources I still did the math and number were relatively close which adds another layer of validity

 

[Kai Liu]

even on per capita terms US is 50k/year ca China’s $1600/year. The data I cited doesn’t differentiate between per person/household which is weird

$1600/year? Pardon me??

 

[Mk-313]

$1600/year? Pardon me??

I am talking about the article. It said $140/month which would be $1600/year for that portion of the population

 

[Zsari]

we’re not now talking about consumption we’re talking about disposable income. Which for US per person is 50k/year . Also for debt you do know that US economy is $22 trillion a year. That’s why even after citing a relevant sources I still did the math and number were relatively close which adds another layer of validity

Yes, a 22 trillion dollar economy with a 14 trillion dollar household debt.

statistics are more valid vs surveys . I didn’t say it’s the absolute. Also, there is no perfect information but levels of tranches how much. Set of data is more reliable than the other. E.g most of the US per person makes much more than 50k but when u include homes less/ people living on benefit etc it significantly reduces the number. But in relative terms it is much accurate gauge

Validity is one thing, how meaningful is completely another. Comparing apples and oranges doesn't do much.

 

[Lego Jangkar]

No one is denying, there are rich ones and poorer ones, the op is the same guy boasting how many Tesla sold here in China in a month...
And you don't have to worry about these people, they live way better life than 99% of your people: I mean 99%, because another 1% are Chinese which control 99% of the wealth.
https://defence.pk/pdf/threads/what...-1000-cny-income-per-month-per-capita.673126/

don't worry dude.....we have 10 % poor population still nothing compare to 600 million poor chinese peasants

 

[Mk-313]

Yes, a 22 trillion dollar economy with a 14 trillion dollar household debt.

False, and at this time u lose the arguement when u start yapping non-seqouitor China has $37 trillion of debt vs $14 trillion i economy

so yeah I would watch before I gloat

But disposable income as cited are valid

 

[Kai Liu]

I am talking about the article. It said $140/month which would be $1600/year for that portion of the population

Are you blind? Our average per capita disposable income from that article is 30000 cny/year or 4300 usd/year. And you mean your per capita dispensable income are 50k usd??? You are kidding me? that will make your household disposable household income of 200k usd per/year, which is joke to me because I live in the USA for almost a decade, and I know an assistant professor only makes around 70k usd per year after tax...Assuming a work force of 2 per house hold, that only make 140k per household...