China to deepen income distribution reform

China’s State Council on Tuesday approved a plan to deepen the reform on income distribution in the world’s number two economy.

It’s part of the central government’s drive to address the issue of wealth disparity. The State Council is urging official bodies to carry out the plan, which was drafted by the National Development and Reform Commission, the Ministry of Finance, as well the Ministry of Human Resources and Social Security.

The State Council also vows to step up income distribution reform in a bid to spread wealth more evenly. The plan says income reform is an arduous and complex process, and should be carried out in a gradual manner.

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