Top 20% earns 10 times more than low-income society in China
Updated: 2014-12-24 09:31
(ecns)
|
|||||||||||
China's income gap has widened to an alarming level, much higher than that of Russia and the US, according to the 4th Income Distribution and Enterprises Salary Reform Summit.
The average salary among the top 20 percent high-income earners is about 10.7 times higher than that of the bottom 20 percent low-income group, said an expert from the State-owned Assets Supervision and Administration Commission (SASAC). The equivalent ratio is 8.4 times in the US, 4.5 times in Russia, and 4.9 times in India.
The yawning wealth gap is likely to trigger social instability and weaken productive development, he warned.
Experts from the SASAC also said China would step up market-oriented income distribution for competitive enterprises and sectors.
Further salary system reform among State-owned enterprises is also necessary. Measures including open recruitment systems and market-oriented salary mechanisms could also help distribute earnings more evenly, it was added.
Related Stories
China to improve livelihood of low-income people 2014-12-12 10:35
Fuzhou publishes income benchmarks 2014-10-21 15:46
Tackle unfairness and income gap 2014-10-17 15:05
Today's Top News
Ukraine peace talks may be held in Minsk
Ling Jihua probed for disciplinary violations
Pyongyang denies cyberattack on Sony
China to become net capital exporter
Beijing willing to assist Moscow
Australian PM denies cabinet reshuffle sign of desperation
Obama vows again to close Guantanamo prison
China revises 2013 GDP up by 3.4%
Hot Topics
Lunar probe , China growth forecasts, Emission rules get tougher, China seen through 'colored lens', International board,
Editor's Picks
Yearender: What happened around the globe in 2014 |
National Memorial Day for Nanjing Massacre victims |
Corrupt female officials spark debate |
Blue skies ready to greet APEC |
Growth pangs |
Sea change |