The State Council has approved guidelines submitted jointly by the National Development and Reform Commission, the Ministry of Finance, and the Ministry of Human Resources and Social Security, after earlier proposals were repeatedly amended in the past eight years.Thursday, 7 February, 2013, 5:50am
The State Council on Tuesday issued guidelines on the long-awaited income distribution reform, vowing to increase minimum wages, limit the incomes of senior managers in state-owned enterprises and "enhance income adjustment by taxation".7 Feb 2013 - 5:16am
The State Council on Tuesday approved long-delayed guidelines to reform the mainland's income distribution system, under which wages will be raised and state-owned enterprises will be required to hand over a greater share of their profits.6 Feb 2013 - 5:30am
Rural per capita net income rose 10.7 per cent, against a 9.6 per cent increase for urban dwellers, partly because of the rise in migrant labourers and their wages, the National Bureau of Statistics said. Rural residents' income from benefits payments rose 21.9 per cent, almost double the urban pace, as the government boosted its budget for health-care handouts.31 Jan 2013 - 5:20am
French President Francois Hollande's threatened income tax of 75 per cent for the wealthiest citizens has driven actor Gerard Depardieu to Russia, where the flat rate is just 13 per cent. The mainland's richest people have also been fleeing, foremost to the US, Canada and Australia, in part to avoid having to give up 45 per cent of earnings to the taxman.10 Jan 2013 - 3:50am 1 comment
China's wealth gap has widened to a level where it is among the world's most unequal nations, a survey has revealed.
China's Gini coefficient, a commonly used measure of inequality, was 0.61 in 2010, the Survey and Research Centre for China Household Finance said, well above what some academics view as the warning line of 0.40.11 Dec 2012 - 4:03am 1 comment
The chasm between China’s rich and poor has widened to alarming levels, according to survey results released by the Survey and Research Centre for China Household Finance.
The survey, released on Sunday, reported a rise in China’s Gini coefficient, a key yardstick of income or wealth inequality, to 0.61 in 2010, the latest year for which there is data on China.25 Dec 2012 - 2:34am 2 comments
The mainland's double-digit economic growth of the past few decades may never be repeated, say an increasing number of economists at home and abroad.
Unless Beijing carries out new economic reforms in key areas, they believe the next pattern of growth will not be so stellar, as the nation begins to lose its traditional advantages of cheap manpower, land and natural resources.6 Dec 2012 - 4:14pm
Developers were the star performers on the stock market yesterday after premier-in-waiting Li Keqiang said urbanisation would drive most of the country's development in the next decade.1 Dec 2012 - 4:37am
While Hu Jintao's goal of doubling per capita income by 2020 is seen as a sign Beijing is paying attention to the poor, analysts said achieving it may not narrow the wealth gap if other, deep-rooted problems remain unsolved.14 Nov 2012 - 5:44am