1 Source: IMF, April 2021

2 Source: Bloomberg, March 2020

3 Source: China Briefing, China’s Middle Class in 5 Simple Questions,  https://www.china-briefing.com/news/chinas-middle-class-5-questions-answered/

4 Source: IFIC as of March 31, 2021

5 Source: Morningstar Direct as of May, 31 2021 (equities); MSCI and Bloomberg, as of 31 December 2020 (bonds)

6 Source: Bloomberg, as of June 30, 2021

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