The tense economic situation in China continues to impact the income of the Chinese middle class. The average wages companies offered new employees in 38 major Chinese cities fell by 1.3 percent year-on-year to 10,420 yuan (1,458 US dollars) in the fourth quarter of 2023. This is according to data from Zhaopin, China’s largest online job platform. It was the sharpest decline since the start of the survey in 2016 and the third consecutive quarter of decline. This is also unprecedented.