55% of China´s families to be middle class by 2020

The Policy Research official announced plans to increase China's middle class to more than half of its population by the end of the next decade.

The middle class is defined by the government as a family with a household income of between 60,000 and 200,000 yuan a year.

The goal is part of the government's goal to quadruple GDP between the year 2000 and 2020. The middle class is defined by the government as a family with a household income of between 60,000 and 200,000 yuan a year.

Taking into account inflation, authorities project that by 2020, about 55% of the country's families will be middle class, and among these, nearly four out of five will live in cities.