Tuesday February 07, 2006

China - income gap between rich, poor at alarming level

channelnewsasia.com :

The income gap between rich and poor in China's cities has reached an "alarming and unreasonable level." The poorest 20% of the urban population get only 2.75% of the total urban income, the high level government National Development and Reform Commission said in its report, the Xinhua news agency reported. The actual figures may be even more biased against the urban poor, as the income may be underestimating the extent of China's growing income gap, the commission said.

Taxation, one of the most widely used methods of income adjustment, is also being used for this purpose in China. China's parliament last year revised a tax law that doubled the threshold for payment of personal income tax to 1,600 yuan (197 dollars) a month to ease the financial burden on the country's poorest.

See also :

1. The Collapse of the Middle Class
2. An Argentine Story
3. Today : Migrating Singaporeans story arc
4. Japan middle-class shrinks

(2006-02-07 23:34:44 SGT) [Biz] Permalink

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