BEIJING -- An executive meeting of China's State Council, the Cabinet, approved Wednesday the draft plan to amend the personal income tax law and a plan to accelerate development of the Chengdu-Chongqing economic zone.

Related readings:  Delicate issue of income parity  Debate: Income tax  China's fair income distribution to be ensured

The draft plan, aimed at benefiting middle and low-income groups, will be submitted to the Standing Committee of the National People's Congress, according to a document released after the meeting, which was presided over by Premier Wen Jiabao.

The document said that by 2015, the Chengdu-Chongqing economic zone will become an important economic powerhouse and a national industrial base.