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Wealth gap furthur widens

 

A rencent survey showed that China's wealth gap has been "widely felt among the Chinese public". The income gap ratio between urban highest income group and lowest income group reached by 8.9 in 2009 from 2.9 in 1985.

The ratio was even more higher in Guangdong. In 2009, the per-capita disposable income of urban residents in Guangdong was 21574.72 yuan. However, the per-capita disposable income of the top 10 percent highest income group was 56931.45 yuan, nearly 50,000 yuan more than the lowest group.

In a 2007 survey, only farmers felt that wealth distribution was fair, possibly because the government rescinded agricultural taxes and began to provide tuition waivers for rural students in 2006. However, at present, not only farmers say that they could perceive a wealth gap, but also civil servants, private enterprise owners and employees are all feeling a sense of inequality in terms of how wealth is distributed in China.

Zheng Gongcheng, a professor at Renmin University says wealth gaps are a normal phenomenon in market economies, adding that the government should still be wary of the gap's widening tendency and eliminate inequality by cracking down on monopolization and corruption.

China's social security system should be improved to provide people with better expectations of stability and ease anxieties.

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