'Gold collar' class expands in China (eastday) Updated: 2004-12-09 15:20
Senior business professionals, known as the "gold collar" class, have reached
a new high of 342,000 in China, adding more to the country's rich people list,
according to a leading Chinese market research company.
The company,
called CTR market research, has investigated companies of various lines in
China's four most developed cities including Beijing, Shanghai and south China's
Guangzhou and Shenzhen, and found out that the number of business professionals
holding more power and making more money is growing.
The survey says 12
percent of these people have the power of disposing of more than 1 million yuan
(US$121,000) per year, and 6 percent of whom control budgets of more than 10
million yuan (US$1.21 million).
Among these business professionals, 68
percent are executive managers in the fields of marketing, financial, executive
and business planning. English has become the second most used language besides
the Chinese in their daily work, the survey indicates.
Thirty-nine
percent of these senior business professionals own cars, either private or
provided by their companies. Seventy-five percent have their own houses, and the
ratio of those buying new houses pricing more than 6,000 yuan (US$726) per
square meter in the coming year is much higher.
Affluent as they are,
however, the survey also acknowledges that they are working hard for it. More
than 11 percent of them work over 12 hours per day, and 19 percent work an
average of 10 to 12 hours daily.
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