Sara Cheng By

Sara Cheng

Formally Head of International Business, My Business

Sara Cheng, Head of International Business at My Business, summarises the main demographic profiles of China here.

 China demographics by age

  • Children (14 years and under): despite the one-child policy, there are over 360 million children in China. These "Little Emperors and Empresses" are doted upon by their parents. Much of the family income is spent on their education and care, and children have a large influence on the way the family's remaining disposable income is spent.
  • The 15 – 25s: this age group were also born under the one-child policy, and are now the hopes of their families. They have the most disposable income of any group, high consumption and are quick to adopt new ideas, technologies and products.
  • The 26 – 45s: this is the largest age group and the cornerstone of the Chinese economy. They are hard-working and ambitious, resulting in relatively high incomes. Their spending behaviour is based on the needs of their family.
  • The 46 – 60s: this group is more traditional. They also work hard, however, they often prefer to save rather than spend their money.
  • The over 60s: there are 140 million people over the age of 60. This age group is very traditional and rely on the family unit, however, they do have their own money.

China demographics by class

  • Lower class: a significant proportion of the Chinese population is still considered lower class. This population is predominantly in rural areas of China, living in traditional villages and relying on agriculture for sustenance.
  • Lower-middle class: the urban population is by far the largest class in China,  representing over 29% of the population. Due to proactive strategies by the government, this population is still growing as people are lifted from the lower class.
  • Middle class: China’s middle class population has now reached over 400 million and is made up of professionals, government officials, intellectuals and successful businesspeople. A study by consulting firm McKinsey & Company projects that 76% of China’s urban population will enter the middle class by 2022. 
  • Upper class: the upper class in China is a small and select group of the very top government officials, intellectuals and business leaders, and makes up just 0.78% of the population.

Sara Cheng

Sara Cheng

Formally Head of International Business, My Business

Sara specialises in international business strategy development, international market development, and business investment in China. She has extensive experience in these areas and previously worked for the Australia China Business Council.