State-owned companies resist as China addresses income gap

12/11/2012 | Wall Street Journal, The

China's state-owned companies appear to be standing in the way of ambitious plans to reduce the gap between the nation's richest and poorest. "The policy's target is to reduce enterprise income and give more money to labor. But monopoly companies and state-owned banks don't want to give more profit to the country and let the government redistribute it," said Qi Jingmei, a research fellow for the State Information Center, a government think tank.

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Wall Street Journal, The

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