President Xi Jinping has called for stronger “regulation of high incomes” in the latest sign that a 10-month campaign targeting China’s largest technology companies was rapidly expanding to encompass broader social goals.
State media reported that a meeting of the Chinese Communist party’s Central Financial and Economic Affairs Commission on Tuesday, chaired by Xi, had emphasised the need to “regulate excessively high incomes and encourage high-income groups and enterprises to return more to society”.
The committee added that while the party had allowed some people and regions to “get rich first” in the early decades of China’s reform and opening period, it was now prioritising “common prosperity for all”.
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