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China set to promote inclusiveness to curb inequality

Updated: Jul 24,2016 10:24 AM

One of the key topics in the morning session is the role of taxes in research and development. There’s been concern that innovation may foster inequality, but that’s something the officials are trying to work against.

“Reforming the systems of income tax and real estate tax will enable us to improve inclusiveness. We need to do better in information gathering which involves benefit adjustments. When it comes to the redistribution of income, you will encounter obstacles, but we will carry it on under any circumstances,” said Chinese Finance Minister Lou Jiwei.