Recent research showed that 55 percent of Chinese people think that they belong to the middle and bottom layers of the society. This proportion is rare in the world, says an article in China Business News.

Why do so many middle-class citizens underestimate their position?

Since the middle class is primarily defined in economic terms, we should also look for answers by analyzing its financial status in society.

The middle class mostly benefits from the initial stage of economic development. It can tolerate the income gap at first. Yet, if the income gap widens with economic growth, its sense of happiness will decrease. Especially when it finds that it is difficult to climb the social ladder again through its own efforts. Strong feelings of depression and disappointment prevail.

Those feelings are made worse by a series of financial burdens from housing, to medical care, education and family costs, which are common for the young middle class in emerging economies.

The development of Chinese society lags behind that of the Chinese economy. If economic structure transformations already prove to be a demanding task, the modernization of Chinese society will be a formidable one, which involves reforms of governance, public service systems and evolution of citizenship. These changes will necessarily influence the development of the Chinese economy.

In fact, only after China coordinates its economic and social development, can the middle class find its self-identity and play its due role as the backbone of society.

A fair distribution of national wealth under the rule of law framework is the best approach to bridge the income gap. It is also a crucial step to transform Chinese society from a pyramid structure to an olive format, at first in people's minds, and then in real life.

Translated by Li Yang