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Since Li Keqiang was tipped to succeed Wen Jiabao as China’s premier, analysts have been trying to come to a better understanding of Li’s thoughts on urbanization. This is because Li has prominently identified urbanization as the growth engine of the Chinese economy and one of the main focuses on the new administration. Li’s first [...]
The State Council’s newly released income inequality reform plan set forth an ambitious sounding goal that by 2015 the minimum wage should be 40 percent of the average wage throughout most of the country. Like many parts of the plan, this is actually a recycled policy from the 12th Five Year Plan that was released [...]
We first commented on China’s new income inequality plan back in November when there was still a bit of skepticism over whether it would be released at all (it has been in the works since 2004). The initial outline of the plan was released this week in a notice (CN) by the State Council. The [...]
One of the messages coming out of the new Chinese leadership is an emphasis on higher quality economic growth. This means moving past a simple emphasis on the headline GDP growth number and instead focusing on boosting living standards. This is embodied in the renewed emphasis on building a moderately well-off (小康) society and the [...]