. Medical and Hospital News .




SINO DAILY
China among world's most unequal countries: survey
by Staff Writers
Shanghai (AFP) Dec 10, 2012


Xi's Shenzhen visit a sign of reform: Chinese media
Beijing (AFP) Dec 10, 2012 - China's new Communist Party chief Xi Jinping has signalled his commitment to push for economic reforms by visiting the city of Shenzhen, the historic hub of modernisation, state media said Monday.

Xi's trip, his first official one as ruling party leader, echoed a visit by then-leader Deng Xiaoping to the southern boomtown in 1992 to revive reforms.

Deng had launched China's economic modernisation more than three decades ago under the slogan "Reform and Opening".

According to analysts the pace of restructuring has slowed in the last decade under outgoing leader Hu Jintao, but Xi's choice of destination sent a clear signal.

"The party Central Committee's decision to undertake Reform and Opening was correct," Xi said, according to the Nanjing Daily.

"We will continue down this path, unswervingly continue down the path of enriching the country and the people, and will break new ground."

Authorities stressed their commitment to reform during the once-a-decade party leadership handover last month that put Xi in the top spot.

They face growing calls to realign the economy to ensure long-term growth, by reducing reliance on investment and exports and boosting domestic consumption.

Growth slowed to a three-year low of 7.4 percent in the third quarter of this year, hit by the global economic slowdown. Leaders have warned that the past years of dramatic double-digit growth are unlikely to return.

"It is high time the Party stepped up reform and opening up," the Global Times quoted Huang Weiping, director of the Contemporary Chinese Politics Research Institute at Shenzhen University, as saying.

"And Xi chose to visit Shenzhen now because he is aware that China has just experienced a major crisis, and crisis always drives further reforms."

Xi is due to take over as national president in March.

Shenzhen served as an early "special economic zone" in the 1980s, a laboratory of sorts as the communist country began to seek foreign investment.

The experiment transformed it from a small village bordering Hong Kong to a bustling modern city and helped initiate years of roaring growth for the country.

During his trip late last week Xi visited a fishing village and an industrial park which is home to the IT giant Tencent Technology, the China Daily reported. He also laid flowers at a statue of Deng in a park.

China's wealth gap has widened to a level where it is among the world's most unequal nations, a Chinese academic institute said in a survey, as huge numbers of poor are left behind by the economic boom.

China's Gini coefficient -- a commonly used measure of inequality -- was 0.61 in 2010, the Survey and Research Center for China Household Finance said, well above what some academics view as the warning line of 0.40.

A figure of 0 would represent perfect equality, and 1 total inequality.

"Currently, China's household income gap is huge," said the institute, founded by the Southwestern University of Finance and Economics and the Institute of Financial Research, which operates under China's central bank.

"The Gini coefficient is as high as 0.61, rare in the world."

China's growing wealth gap is a major concern for Communist authorities, who are keen to avoid public discontent that could lead to social unrest in the country of 1.3 billion people.

In a sign of the sensitivity surrounding the issue the government has not released an official Gini coefficient for the country as a whole for more than a decade, since it put the statistic at 0.412 in 2000.

A figure of 0.61 would put China at the top of a list of 16 countries by 2010 Gini coefficient on the World Bank website. The largest set of figures available on the site is for 2008, covering 47 countries and headed by Honduras on 0.613.

The Global Times newspaper, which reported the latest survey results on Monday, said China's wealth gap had reached an "alarming" level.

But the research centre played down its own findings, saying such a phenomenon was common in rapidly developing economies.

It called on the government to use its vast financial resources to support low-income earners in the short term, while improving education to help address the imbalance in the long term.

"The Gini coefficient certainly points to the serious issue of income inequality," the director of the Chengdu city-based centre Gan Li told AFP.

"But more importantly about the interpretation of the figure is that it does not necessarily indicate imbalance in China's economy," he said, adding it was normal for greater resources to flow to developed areas.

"There's no need to make a big fuss about it."

The government-backed Chinese Academy of Social Sciences estimated China's Gini coefficient at nearly 0.47 in 2005.

Another research institute, the Centre for Chinese Rural Studies, in August put the Gini coefficient at around 0.39 for rural residents last year, but gave no figure for the overall national level.

.


Related Links
China News from SinoDaily.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle




Memory Foam Mattress Review

Newsletters :: SpaceDaily Express :: SpaceWar Express :: TerraDaily Express :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News

Get Our Free Newsletters
Space - Defense - Environment - Energy - Solar - Nuclear

...





SINO DAILY
Nobel laureate Mo Yan takes swipe at critics in lecture
Stockholm (AFP) Dec 07, 2012
Chinese Nobel literature laureate Mo Yan on Friday took a swipe at his critics in the traditional Nobel lecture, saying their target "had nothing to do" with him and urging them to read his books. The writer has walked a tightrope during his stay in Stockholm, where he will pick up the award on Monday, with some pundits supporting his own claims that he is "independent", and others casting h ... read more


SINO DAILY
Fire, flood or giant calabash... pick your apocalypse

UN seeks $65 mn aid as Philippines typhoon toll tops 600

N.Z. probe finds numerous flaws in killer quake building

Obama asks for $60 bn Sandy recovery package

SINO DAILY
Retired GIOVE-A satellite helps SSTL demonstrate first High Altitude GPS navigation fix

GTX Gets Approval For Custom Two-Way GPS Tracking Devices On Planes

East Riding Of Yorkshire Council Selects Ctrack For Specialist Vehicle Tracking Solution

Researchers Use GPS Tracking to Monitor Crab Behavior

SINO DAILY
Africa's Homo sapiens were the first techies

Skeletons in cave reveal Mediterranean secrets

World's tallest woman dies in China: authorities

Native Americans and Northern Europeans more closely related than previously thought

SINO DAILY
Lions are rapidly losing ground in Africa

S.Africa, Vietnam agree to curb rhino horn trade

Football: Poborsky shows animal instincts in gorilla plan

Kenyan reserve to fly drones to tackle rhino poachers

SINO DAILY
Copper restricts the spread of global antibiotic-resistant infections

Why some strains of Lyme disease bacteria are common and others are not

More S.African pregnant women contracting HIV: study

Birds may spread, not halt, fever-bearing ticks

SINO DAILY
Watches, mistresses on show as China highlights graft

China dissident Hu Jia kept at home on rights day

China says two arrested for inciting self-immolations

Tibetan, 16, burns herself to death in China: Xinhua

SINO DAILY
Four Chinese hostages freed in Colombia

Piracy will swell again if seas not policed: S.African Navy

Mekong River attackers get death sentences

West African pirates target oil tankers

SINO DAILY
China's economy shows pick-up amid leadership transition

S. American growth set to cause wage hikes

Chinese inflation rises to 2.0 percent in November

Japan economic data sparks recession fears




The content herein, unless otherwise known to be public domain, are Copyright 1995-2012 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement