China unveils reform guidelines on income distribution

A task force was set up in October 2010 to study income distribution reforms, involving experts from the National Development and Reform Commission, the Ministry of Finance and the Ministry of Human Resources and Social Security.

The State Council urged local governments and various departments to map out supporting schemes and detailed rules for implementation of the guidelines.

As China's economy catapulted to the world's No. 2 position, the country also saw its income gap yawning.

The Gini coefficient, a rich-poor index, reached 0.474 in China in 2012, higher than the warning level of 0.4 set by the United Nations, said the National Bureau of Statistics, with the news marking the first time China announced an official broad-based Gini coefficient since 2000.

Both central authorities and economists have urged accelerated reforms of the income distribution system to bridge the wealth gap for more sustainable development.

China will work to boost national incomes, deepen reforms on the income distribution system and enable people to share the country's development achievements, according to a keynote report delivered at the 18th National Congress of the Communist Party of China.

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China to reform income distribution

Index shows wealth gap at alarming level

China Gini coefficient at 0.474 in 2012

Income reform needed urgently

China to carefully study tax policies