China plnas to narrow income gap
Updated: 2012-03-05 10:14
BEIJING -- China will promptly formulate a master plan for reforming the income distribution system in a bid to narrow the widening income gap, according to a government work report distributed to the media Monday morning.
The government will strive to raise the proportion of individual income in national income, and raise the proportion of remuneration in the primary distribution, says the report to be delivered by Premier Wen Jiabao in the opening meeting of the Fifth Session of the National People's Congress, China's parliament.
"We will quickly reverse the trend of a widening income gap," reads the report.
The government will take further steps to adjust taxes for high-income groups, strictly standardize supervision of pay and bonuses for senior management in state-owned enterprises and financial institutions, it says.
The proportion of middle-income groups will be expanded, and the incomes of low-income groups will be raised, the report says.