Chinese Communist party to crack down on almost weekly creation of billionaire company bosses
China’s president has vowed to “adjust excessive incomes” in a warning to the country’s super-rich that the state plans to redistribute wealth to tackle widening inequality.
According to reports in state media, Xi Jinping told officials at a meeting of the Chinese Communist party’s central financial and economic affairs commission on Tuesday, that the government should “regulate excessively high incomes and encourage high-income groups and enterprises to return more to society”.