According to recent research by the Economist Intelligence Unit (EIU), China will become a middle class society by 2030.

The EIU report reveals that last year 40% of the Chinese population were in the low-income bracket, which is defined as having personal disposable income below US$2,100 per year.

But this number will drop to just 11% of the population by 2030 as more people move into higher disposable income bands. As China is Australia’s largest trading partner, the development of its economy will be a huge benefit to the local economy.

Four companies which I believe will prosper from the growing middle class are as follows:

Bellamy’s Australia Ltd (ASX: BAL)

Although there are fears over a slowdown in infant formula sales into China, I feel confident that in the medium-term things will pick up. Especially as China’s middle class continues to expand. Bellamy’s has created a strong brand image in the market, which I feel puts them in a strong position for growth.

Mantra Group Ltd (ASX: MTR)

As disposable income levels grow, I expect that more of the population will travel overseas. As one of Australia’s leading accommodation providers I believe Mantra will see strong demand for the 20,000 rooms it has under management in key tourist hotspots.

Ramsay Health Care Limited (ASX: RHC)

Although at present this private hospital giant doesn’t have any operations in China, I feel it is inevitable that at some stage Ramsay will expand into China. The EIU report forecasts for spending on healthcare to be one area in particular that sees a strong uptick.

Treasury Wine Estates Ltd (ASX: TWE)

This wine giant has been experiencing incredible demand from the Asia market, culminating in a 40% jump in volume growth year on year. This ultimately led to the company’s Asia segment becoming the second-largest contributor to earnings. I expect China’s growing middle class will soon lead to the Asia segment becoming its biggest segment.

Finally, these three fast-growing future blue chip shares could be equally great investments. Are they in your portfolio yet?

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Motley Fool contributor James Mickleboro has no position in any stocks mentioned. The Motley Fool Australia owns shares of Bellamy's Australia. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.