Date
20 October 2017

Rich-poor gap grows as wealth stays in few hands, paper says

The top 10 percent of Chinese own 63.9 percent of the country’s wealth, the Global Times reported Sunday, citing a Nandu Daily report. According to a survey by Chengdu-based Southwestern University of Finance and Economics, growth in the rich-poor gap has slowed but wealth is still concentrated in the hands of a few. The report said China’s Gini coefficient, a measure of income inequality, was 0.717 in 2013. A reading higher than 0.4 is seen as unsafe.

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