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TOOL · GROSS COST

How much would a basic income cost in China?

Calculate the gross annual cost of paying a monthly amount to the country’s adult and child population.

Adult population 1,176,678,703child population 234,031,297year 2023World Bank WDI

GROSS ANNUAL COST

12,419,466 million

in CNYCN¥12,419,465,774,400

Equal to 9.6% of reference GDP

Population covered: 1,410,710,000 people

Adults: 1,176,678,703 × CN¥800 × 12 = CN¥11,296,115,548,800

Children: 234,031,297 × CN¥400 × 12 = CN¥1,123,350,225,600

CN¥11,296,115,548,800 + CN¥1,123,350,225,600 = CN¥12,419,465,774,400

Offset benefits, recovered tax, administrative savings and later economic effects are not deducted. This is a gross cost, not a net cost.

Sources and method

Population 2023 · World Bank WDI

GDP 2023 · $18,270,356,654,533 · World Bank WDI

Currency CNY · exchange rate 7.0840 CNY/USD (2023)

Converted cost $1,753,171,730,433 for the GDP share.