China to tax rich more, cap executive pays to cut wealth gap
PTI: Beijing, Feb 06 2013, 16:28 IST
CPC new leader Xi Jinping would take over power from next month replacing Hu Jintao.
The new guidelines offer directions on an extensive range of policy areas such as taxation, subsidies, salary system, financial regulation, household registration and social security.
The guidelines set a target of reducing the number of people living below the poverty line of 2,300 yuan (USD 366) in per capita annual net income at constant 2010 prices by around 80 million as of 2015. That will be a drastic fall from about 128 million in rural areas who were defined as poor in 2011.
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