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China to hike income control in monopolized sectors

Last Updated: Friday, December 21, 2012 - 14:19

Beijing: China will increase its control over high earnings in monopolized sectors next year amid efforts to address income disparities.

Xinhua quoted Finance Minister Xie Xuren as saying that the government will improve control policies on both the gross pay and the industry wage level in monopolized sectors to optimize the national income distribution structure.

"Unfair income distribution has been a major source of public complaint over recent years, with many targeting state-run sectors," he told a national finance work meeting.

"Economists view the issue as a major obstacle in deepening the country's economic reform."

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

IANS

First Published: Friday, December 21, 2012 - 14:19
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