China may launch income distribution reform in October

China is likely to unveil long-awaited income distribution reform in October and is now seeking opinions from ministers and top leaders, the official Economic Information Daily reported on Monday. The National Development and Reform Commission (NDRC), the powerful economic planner which started drafting the blueprint in 2004, was twice rejected by the State Council, or the cabinet, in early 2010 and December 2011 on its proposals.
The newspaper, run by the official Xinhua news agency, said the reform would cover 10 aspects, including minimum wages, the sharing of state firms' dividends, taxes of high-income earners, and the salaries of management team at state financial institutions. But it did not spell out details.