2. Maximum and minimum salary range. The average salary in China ranges from 7,410 Yuan per month (USD 1,066) to 131,000 Yuan (USD 18,842) per month — with 7,410 Yuan being the minimum salary and 131,100 Yuan being the maximum salary.
In 2021, the last full year for which Beijing's National Bureau of Statistics offers data, the average Chinese worker earned 105,000 yuan a year, the equivalent of $16,153. The average American worker earned some $58,120 a year, 3.5 times his or her Chinese counterpart — still wide but not what it was.
In China, the average monthly wage is 29,300 Yuan (Chinese Yuan), which is equal to USD 4,534 (US dollars) per month based on the currency rate in July 2021, or USD 4,534 (US dollars) per month in the United States. On a monthly basis, the median pay in China is 31,100 Yuan (USD 4,813).
Breakdown of annual middle class household income in China 2021-2022. As of January 2022, the largest share of Chinese middle-class families had an annual income of between 100 thousand and 300 thousand yuan per year. According to the same survey, almost 90 percent of respondents have at least one child.
The worldwide highest income is earned in Monaco. The smallest budget per capita exists in Afghanistan. In our comparison over 69 countries, the USA comes 7th with an average income of 70,930 USD. The average income is calculated by gross national income and population.
The world's 12th largest economy
Strong growth in 2021 solidified Australia's position as the world's 12th largest economy in 2021. Nominal GDP was around A$2.2 trillion (US$1.6 trillion) in 2021. Australia is home to just 0.3% of the world's population, but accounts for 1.7% of the global economy.
The average yearly salary in Australia is 90,800 AUD (USD 60,355). Let's go through a few key indicators of the average earnings in Australia so you can fully understand salary statistics and trends in the country.
BEIJING, April 1, 2022— Over the past 40 years, the number of people in China with incomes below $1.90 per day – the International Poverty Line as defined by the World Bank to track global extreme poverty– has fallen by close to 800 million.
The World Bank defines a high-income nation as one with a nominal gross national income (GNI) per capita above $13,205. China logged in at $12,608 last year, the National Bureau of Statistics reported.
Already a member? Millionaires are defined as individuals with personal wealth of over 10 million yuan, and super-rich are defined as individuals with personal wealth of 100 million yuan or above. One yuan equals approximately 0.16 U.S. dollars and 0.14 euros (as of April 2022).
An average 80 square meter apartment within Shanghai's Inner Ring Road goes for upwards $886,000; while in the city's hinterlands it sells for around US$200,000. In Beijing, the average cost of a home of this size is roughly US$310,000.
Minimum Wages in China remained unchanged at 2590 CNY/Month (364.326 USD/Month) in 2023. The maximum rate of minimum wage for employees was 2480 CNY/Month and minimum was 690 CNY/Month.
Cost of Renting in China: $300 – $500 per month
Well, over in China, you can pay as little as $300 and as much as $700 per month depending on where you live. The major cities will have the higher rents, while the outskirts of the city are much cheaper.
Farms need laborers and children are inexpensive to employ. A child laborer in China is any employee under 16 years. Under Chinese law, no one under the age of 16 can work and those who do employ children are breaking the law.
In 2022, the average annual per capita disposable income of households in China amounted to approximately 36,883 yuan.
China is the world's largest manufacturing economy and exporter of goods. It is also the world's fastest-growing consumer market and second-largest importer of goods. China is also the world's largest consumer of numerous commodities, and accounts for about half of global consumption of metals.
Xinjiang has the highest poverty rate, which is 9.9 per cent. Gansu, Guizhou, Tibet and Yunnan also have a poverty rate above 7 per cent. The average poverty rate in western rural areas in 2017 was 5.6 per cent, much higher than in the eastern and central regions.
Driven by industrial production and manufacturing exports, China's GDP is actually now the largest in terms of purchasing power parity (PPP) equivalence. Despite this growth, China's economy remains strictly controlled by its government where there are accusations of corruption, unfair dealings, and falsified data.
While poverty has been reduced immensely in China over the past decade, it still remains a large problem in rural China. Rural China has historically been disproportionately taxed and also has received fewer benefits from the recent economic development and success of China.
The average salary in China ranges from 7,410 Yuan per month (USD 1,066) to 131,000 Yuan (USD 18,842) per month — with 7,410 Yuan being the minimum salary and 131,100 Yuan being the maximum salary.
Unemployment refers to the share of the labor force that is without work but available for and seeking employment. China unemployment rate for 2021 was 4.82%, a 0.18% decline from 2020.
Officially, the average wage is $75,000 a year, but that is skewed by a small number of very high income earners. In reality, around 70 per cent of tax payers actually earn less than the average wage. If pensioners are included in this count, four out of five Australians earn less than the average.
So a taxpayer with an income of $80,000 a year is therefore in the top 20 per cent of Australians.
$100,000/year is above an average salary and if you're frugal enough, on $100,000/year, you should be able to live a good life and save some money too. Usually if you consider living in desirable locations of cities like Melbourne and Sydney, most of your income will be consumed in the house rents.