Gini coefficient shows China's wealth gap at warning mark

A A

PTI: Beijing, Jan 18 2013, 17:17 IST

The Gini coefficient, which reflects the wealth gap between rich and poor, was at 0.474 level for China in 2012 -- well above the warning levels, a report has said.

Known as the Gini coefficient, the index has been retreating gradually since hitting a peak of 0.491 in 2008, dropping to 0.49 in 2009, 0.481 in 2010 and 0.477 in 2011, against the warning level of 0.4 set by United Nations, state-run Xinhua news agency quoted Ma Jiantang, Director of the National Bureau of Statistics (NBS) as saying today.

Ma revealed the figures while announcing new economic data of the Chinese economy last year, which registered 7.8 per cent growth, lowest in 13 years.

The index stood at 0.479 in 2003, when the present administration led by Hu Jintao took power in 2003 and gradually climbed up as Chinese economy opened up to private investment and reforms.

Hu's administration is to be replaced by another reformist leader Xi Jinping who would be taking over as President in March this year.

The new leadership acknowledges the wealth gap and promises to improve people's incomes with batter salary structures and tax laws.

The Gini coefficient has stayed at a relatively high level of between 0.47 and 0.49 during the past decade, indicating that China must accelerate its income distribution reform to narrow the rich-poor gap, Ma said.

Ads by Google

China commodity imports more important than sluggish exports: Clyde Russell China pension fund gap to top 80 pct of 2011 GDP by 2050China 2013 GDP growth seen at 8 percent state think tank China's non-manufacturing sector Purchasing Managers Index improves for 3rd month

Previous Story Copper, zinc prices strengthen on global cues Next Story Want to bag a job? Make sure your strongest competitor is interviewed on different day

Reader's Comments (1)| Post a Comment

Jaypee Sunnyvale Homes

Prabhu | 18-Jan-2013Reply | Forward

Jaypee Sunnyvale Plots Noida is earth- friendly venture because the native materials are utilized in construction. use solid waste and grey water, eco retreats and manufacturing energy by native suggests that ar some technique of Jaypee Sunnyvale to take care of the eco-system.