According to a recent survey, the inequality of people’s income and assets is getting worse. The top one percent of the population owns one-third of China’s total assets, while the bottom 25 percent of families own one percent of total assets. The survey, “The China Livelihood Development Report,” was based on a study of 14,960 families in 25 provinces and cities.
In addition to the inequality in income and assets, there are deepening gaps in terms of education between the urban area and the countryside, between the eastern and western regions, and between males and females. In the area of healthcare, the social security programs that the State funds have expanded the inequality instead of narrowing it. The survey showed that the population that has a higher income receives more medical subsidies than people who have a lower income.
Source: Yicai, January 13, 2016
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