Income and asset inequality in China is worsening. The wealthiest 1% own one-third of the nation’s property, and the poorest 25% only own about 1%. Gaps in education and health care are widening as well.
The increasingly inequality was reported in the recent China Minsheng Development Report. The report was based on data from 14,960 households in 160 counties and 25 provinces nationwide.
The report shows the China’s income and asset inequality is worsening. The Gini coefficient in China has increased from 0.3 in 1980 to 0.45 in 2015. In 2012, China’s Gini coefficient for national income reached a high of 0.49.
Source: inews.qq.com
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Keywords: China assets China 1% China income inequality
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