It will result in a sharp rise in the income of high-level workers. It is recommended that the government intensifies the levy of income tax on the rich and enhances the social security system to improve the living standards of low-income earners. It is also critical to smash the monopoly and moderate the high income of monopolized sectors. But a more effective way to optimize the income ladder is to help the average income group to earn more. State-owned enterprises can introduce an incentive mechanism to help increase the income of their staff who also make up a major part of the average income group.
Government departments can also streamline their functions and raise the salary of public servants.
Such measures will help expand the middle-class group in China. This will help to narrow the gap between the rich and the poor and promote common prosperity in China. All rights reserved. Reproduction in whole or in part without permission is prohibited.