close

China's Xi calls for progress on property tax in drive for prosperity

China, still an avowedly socialist country, has vowed to reduce inequality after years of breakneck growth while stressing that people should still work hard to create wealth

Reuters
Xi Jinping, Chinese President
Premium

China’s President Xi Jinping

China's President Xi Jinping warned against government over-promising on social welfare amid a push to achieve "common prosperity" by mid-century, while demanding progress on a long-awaited property tax that could help reduce wealth gaps.   China, still an avowedly socialist country, has vowed to reduce inequality after years of breakneck growth while stressing that people should still work hard to create wealth.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Or

Also Read

China steps up funding oversight of Evergrande property projects

Evergrande Group's trading halted in Hong Kong as debt test looms

How to tell if the Evergrande crisis is spilling beyond China

Evergrande's $1.7 bn Hong Kong headquarters sale flops as buyer withdraws

China crisis set to worsen as Evergrande rival Fantasia misses payment

FM Nirmala Sitharaman meets top WTO official amid push for vax IPR waiver

Key route out of Afghanistan cut off after Pakistan cancels flights

China's central bank says spillover from Evergrande crisis 'controllable'

Brent oil surges to $85 per barrel as energy crisis stokes demand

Energy crisis threatens global economic recovery, says IEA

First Published: Oct 16 2021 | 2:31 AM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers. Already a BS Premium subscriber?LOGIN NOW

Register to read more on Business-Standard.com