President Xi Jinping’s aim to decrease inequality and push for common prosperity does not mean “killing the rich to help the poor” but that those that get rich first should help those behind and hard work should always be encouraged, according to a Chinese official, reports Reuters.
China must also “guard against falling into the trap of welfarism,” Han Wenxiu, an official at the Central Financial and Economic Affairs Commission, said at a briefing in Beijing on Thursday.
China has said it will protect legal income, but “rationally adjust excessively high” incomes, according to a meeting chaired by President Xi earlier this month. High income groups and firms are also being encouraged to contribute more to society.
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