The World Bank defined middle income countries as those with GNI per capita income of between US$1,006 and US$12,235, with China falling within the upper middle-income economies. Photo: Shutterstock

China’s middle income claim causes uproar as Weibo users ask ‘why am I not that rich?’

  • Propaganda piece from the National Bureau of Statistics stirs up online controversy after claim China’s nominal gross national income per capita for 2018 was US$9,732
  • Agency forced to respond after topic attracts over 200 million followers, with Beijing facing a delicate task of portraying itself for China’s 70th anniversary
Topic |   China economy

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The World Bank defined middle income countries as those with GNI per capita income of between US$1,006 and US$12,235, with China falling within the upper middle-income economies. Photo: Shutterstock
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Beijing has so far refrained from implementing a large-scale infrastructure construction programme, but did announce in March a 2 trillion yuan (US$291 billion) business tax cut to help stabilise the economy. Photo: Xinhua

China issues new rules on infrastructure financing due to implicit debt concerns

  • Restrictions on financing by public-private partnership comes after the government eased rules last month regarding the funding of local infrastructure projects
  • Beijing wants to boost local infrastructure projects while also avoiding the debt excesses of the past amid the trade war with the United States
Topic |   China economy

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Beijing has so far refrained from implementing a large-scale infrastructure construction programme, but did announce in March a 2 trillion yuan (US$291 billion) business tax cut to help stabilise the economy. Photo: Xinhua
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