TY - JOUR
T1 - Household wealth in China
AU - Xie, Yu
AU - Jin, Yongai
N1 - Funding Information:
The research is supported by the Natural Science Foundation of China (Grant No. 71373012), the Center for Social Research and Institute of Social Science Survey at Peking University and the Population Studies Center (with support from the National Institute of Child Health and Human Development, R24HD041028), the Survey Research Center, and the Center for Chinese Studies of the University of Michigan and the China Scholarship Council.
Publisher Copyright:
Copyright © Taylor & Francis Group, LLC.
PY - 2015/1/1
Y1 - 2015/1/1
N2 - With new nationwide longitudinal survey data now available from the China Family Panel Studies (CFPS), we study the level, distribution, and composition of household wealth in contemporary China. We found that the wealth Gini coefficient of China was 0.73 in 2012. The richest 1 percent owned more than one-third of the total national household wealth, while the poorest 25 percent owned less than 2 percent. Housing assets, which accounted for over 70 percent, were the largest component of household wealth. Finally, the urban-rural divide and regional disparities played important roles in household wealth distribution, and institutional factors significantly affected household wealth holdings, wealth growth rate, and wealth mobility.
AB - With new nationwide longitudinal survey data now available from the China Family Panel Studies (CFPS), we study the level, distribution, and composition of household wealth in contemporary China. We found that the wealth Gini coefficient of China was 0.73 in 2012. The richest 1 percent owned more than one-third of the total national household wealth, while the poorest 25 percent owned less than 2 percent. Housing assets, which accounted for over 70 percent, were the largest component of household wealth. Finally, the urban-rural divide and regional disparities played important roles in household wealth distribution, and institutional factors significantly affected household wealth holdings, wealth growth rate, and wealth mobility.
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U2 - 10.1080/21620555.2015.1032158
DO - 10.1080/21620555.2015.1032158
M3 - Article
C2 - 26435882
AN - SCOPUS:84943391106
SN - 2162-0555
VL - 47
SP - 203
EP - 229
JO - Chinese Sociological Review
JF - Chinese Sociological Review
IS - 3
ER -