China unveiled guidelines on its long-awaited income redistribution plan by saying it would boost income for the poor, tighten its grip on illegal income and ask state companies to contribute more profits to the government.
Problems in China’s income distribution demand urgent solutions, the State Council, or the cabinet, said in a statement posted on the central government website Tuesday.
China will require state companies to turn over more of their profits to the government. The State Council said it hopes to push companies to contribute around five percentage points more from their profits to the government by 2015.
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Liyan Qi, Wall Street Journal via CHINA US Focus http://feedproxy.google.com/~r/ChinaUsFocus/~3/7nnwbAc0zhw/
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