china income distribution data

china income distribution data

The value for Income share held by second 20% in China was 10.60 as of 2015. This measure can be a useful way to compare living standards across the world. International Economics, Theory and Policy (9th ed.). Citation View help for Citation To learn more about cookies, click here. Additionally, the research states that “the combination of WTO accession and factor market reforms improves both efficiency and equality significantly.”[14] WTO accession means that the economy will become more liberalized and open, “likely resulting in dramatic shifts in regional comparative advantages.”[4] This regional disparity will likely be exacerbated by continued government investment in coastal regions, so “further liberalizing and investing in the economy in the inland region is thus an important developmental strategy for the government to both promote economic growth and reduce regional inequality.”[4], Analysis of the impact of the one-child policy indicates that “population aging will impact society in multiple ways, and it is therefore crucial for policy makers to produce a development strategy that tackles the socio-economic challenges of an aging population.”[20] Some specific recommendations from the School of Public Finance and Public Policy of Beijing include “the establishment of a basic old age security system in rural areas” to reduce income inequality, encouragement of development of local industry in less affluent regions, subsidization of children’s education in lower income households, and the establishment of public health insurance plans for the poor.” Additionally, the report finds that “In the long run, the Chinese government should reconsider whether the one-child policy should be continued. By Yi Wen, Assistant Vice President and Economist, and Brian Reinbold, Research Associate. Nonetheless, the average income was still significantly higher than the median. Dollar Source: World Bank, Development Research Group. [8] In contrast, the income disparity was at its narrowest in 1983, at 1.82:1, due to effects of the Household-responsibility system introduced in 1978. The highest rate is 35%. China - Income distribution Income share held by second 20%. [17], China already has a tax and redistribution system. [12], More than 10% of China’s total inequality is attributed to the rural-urban gap, according to a study published in the PNAS. Income across Chinese Regions To gauge the income distribution in China across regions, we next looked at real per capita household disposable income for 2015 by provinces. 2, 1995, p.4. However, China still faces a number of socioeconomic issues, including the increasing income disparitybetween different groups of citizens, largely characterized by rural-urban income inequality. Income tax evasion reached 95%[26], according to Ministry of Security sources between 1985 and 1988 there were 8900 cases of tax revolt, 1500 tax inspectors were injured, 872 were in critical condition, 28 were disabled, and 4 died. As the graph below shows, over the past 25 years this indicator reached a maximum value of 12.40 in 1990 and a minimum value of 9.20 in 2010. For more information on what you will find (and will not find) on WID.world, click here. Graph and download economic data for GINI Index for China (SIPOVGINICHN) from 1990 to 2016 about gini, China, and indexes. Learn how the World Bank Group is helping countries with COVID-19 (coronavirus). These results are similar to what St. Louis Fed President James Bullard found based on U.S. data.1. China's wealth gap the widest since economic reforms began. As the graph below shows, over the past 25 years this indicator reached a maximum value of 3.50 in 1990 and a minimum value of 2.00 in 2010. Given a fixed level of income, the higher the cost of living, the lower the living standard. We used a housing price index of over 100 Chinese cities to construct a provincial housing price index. Since a large share of income is typically spent on housing, living standards can be greatly affected (adversely) by housing prices. Decades of economic development have fueled a massive increase in incomes in China. For example, China could rely more on the personal income tax and less on regressive consumption taxes. Retrieved from. 771-791. Some people and regions achieved prosperity, and urban-rural and interregional income gaps narrowed. “For example, in 1998, per pupil expenditure in Beijing was 12 times that in Guizhou, and the difference jumped to 15 times in 2001.”[17]. What is the meaning of the economic concepts used on WID.world? The figure below shows real per capita GDP across the world in 2014 in terms of the dollar in 2011 at chained purchasing power parities. They provide useful information and cover a lot of countries but do not inform adequately on income and wealth levels of the richest individuals. Despite steady growth of China’s economy since economic reforms in 1978, the rural-urban income gap reached its widest in more than three decades in 2009. The figure shows that China’s average real per capita income is $12,472.51, which is in line with the world median income but far below the world average.

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