China’s Premier Acknowledges Serious Economic Crisis, With 600 Million People Earning $140 a Month

Chinese Premier Li Keqiang speaks at the video press conference from The Great Hall Of The People after the closing of the rubber-stamp legislative annual meeting in Beijing, China on May 28, 2020. Andrea Verdelli/Getty Images

After this year’s meetings of China’s rubber-stamp legislature concluded, Premier Li Keqiang revealed at a press conference that roughly 600 million Chinese citizens only earn 1,000 yuan, or roughly $140, a month.

That is not enough to pay for monthly rent on a one-bedroom apartment in a mid-sized Chinese city.