China's middle-class population (if defined as those with annual income of between US$10,000 and US$60,000) had reached more than 300 million by 2012.[311] According to the Hurun Report, the number of US dollar billionaires in China increased from 130 in 2009 to 251 in 2012, giving China the world's second-highest number of billionaires.[312][313] China's domestic retail market was worth over 20 trillion yuan (US$3.2 trillion) in 2012[314] and is growing at over 12% annually as of 2013,[315] while the country's luxury goods market has expanded immensely, with 27.5% of the global share.[316] However, in recent years, China's rapid economic growth has contributed to severe consumer inflation,[317][318] leading to increased government regulation.[319] China has a high level of economic inequality,[320] which has increased in the past few decades.[321] In 2012, China's Gini coefficient was 0.474.
