China to further address income disparities

0 Comment(s)Print E-mail Xinhua, March 14, 2012
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Chinese Premier Wen Jiabao meets the press after the closing meeting of the Fifth Session of the 11th National People's Congress (NPC) at the Great Hall of the People in Beijing, March 14, 2011.

Wen Jiabao at the press conference. 

Premier Wen Jiabao said Wednesday the government will take further steps to address the problem of income disparities.

Wen told a press conference that the government will continue to increase the income of urban and rural residents, raise the minimum wage levels so that people's income will be able to rise in line with economic growth and increase in productivity. [More about the press conference]

He said the government will make adjustment to income distribution, further regulate the income of high-income groups, in particular the pay and bonuses of senior managers of state-owned enterprises and state-owned financial institutions, while raising the proportion of middle-income groups.

He also vowed to further improve the social security system, protect lawful incomes and ban illegal incomes.

To promote income equality, Wen said, the government must create equal conditions for all in terms of education, employment and starting one's own business so that all people will be able to get started from the same starting line

"We must pay close attention to the well-being of the vulnerable groups," Wen said, adding he believes if the living conditions of those people can be improved, China will improve the living standard of all people as a whole.

He added the government must also continue reform in the fiscal system and income distribution system, so as to push forward the institutional arrangement for the country to achieve the goal of common prosperity.

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