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China to tax rich more, cap executive pays to cut wealth gap

Last Updated: Wednesday, February 06, 2013, 16:59

In a bid to address widening wealth gap, China has unveiled a major plan to reform its income distribution mechanism, proposing to tax the rich and state units more besides imposing caps on salaries of top managers while increasing lower staff pay.

China to tackle growing wealth gap head-on

Last Updated: Saturday, November 10, 2012, 18:26

Growing wealth gap in China has been identified as the most pressing problem for the Asia's largest emerging economy and the ongoing once-in-a-decade leadership Congress of the ruling Communist Party is looking to tackle the issue head-on, according to a report.