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China to increase income control in monopolized sectors


08:25, December 21, 2012

BEIJING, Dec. 20 (Xinhua) -- China will increase its control over high earnings in monopolized sectors next year amid efforts to address income disparities, Minister of Finance Xie Xuren said Thursday.

The government will improve its control policies on both the gross pay and the industry wage level in monopolized sectors in 2012 to optimize the national income distribution structure, Xie said at a national finance work meeting.

Unfair income distribution has been a major source of public complaint over recent years, with many targeting state-run sectors. Economists view the issue as a major obstacle in deepening the country's economic reform.

A State Council meeting in October said the government would formulate a general income distribution reform scheme in the fourth quarter of the year.

Xie said the government will also work to promote the performance pay policy in government-affiliated institutions and regulate allowances and subsidies for civil servants next year.

The meeting also pledged to maintain a proactive fiscal policy that will improve tax reform, optimize government spending and enhance quality and efficient economic growth.

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