The standard of living in China has risen significantly since the 1970s. Today, the country is a huge market with hundreds of millions of middle-class consumers served by foreign multinational corporations.
However, the differences in wealth remain significant.
Although China holds the world record for the number of dollar billionaires, China only last year managed to officially eradicate absolute poverty.
According to state media today, at a meeting on economics, the Chinese president called for a reasonable redistribution of wealth that will benefit all citizens.
Xi Jinping stressed that in the name of social justice, measures should be taken to increase funding for the lowest-income people and correct excessive incomes, according to a report prepared after the meeting.
It is unclear how the Chinese leader intends to achieve the goal, but these guidelines determine what the priorities will be in the coming months.
The participants also supported greater equality in the field of education against the background of strong criticism of the excessive cost of private training courses.
Beijing has stepped up efforts in the income education sector, which the government wants to turn into a non-profit one. It is expected that the volume of training courses will be significantly reduced.
Source: dnes.dir.bg