A study conducted by a social organization in Hong Kong noted that the government is not doing enough in poverty alleviation. Many low income citizens are still in desperate need to improve their livelihood.
China needs less government intervention and should rely more on the invisible hand to boost consumption as the country moves away from an investment-led growth model, economists and business representatives proposed on Thursday.
China needs less government intervention and should rely more on the invisible hand to boost consumption as the country moves away from an investment-led growth model, economists and business representatives proposed on Thursday.
Household income in South Korea grew at a faster pace in the second quarter of this year due to economic recovery during the quarter, a government report showed Friday.
Households in South Korea preferred repaying debts to consumption, a central bank report showed Monday.
New Zealand Finance Minister Bill English on Wednesday defended his government's record against claims that the country's wealth gap is growing faster than that of many of other developed countries.
A Chinese official said that statistics show that China's consumption are taking center stage. With gradual structural transformation, coupling the cultural-driven high saving rate, he shrugged off worries that China will cease to growth.
High blood pressure and obesity, traditionally associated with affluence, are no longer confined to wealthy countries, according to a new study published in the U.S. journal Circulation.
Once an aquafarm close to bankruptcy, Haiwan Farm has been revitalized a decade later thanks to its successful transition to an agritourism base for urban residents.
Pre-opening queues have snaked around Chinese property trading centers in the past few days, with those in line vexed by the uncertain roll-out date of stricter market regulations.
Beverage tycoon Zong Qinghou said achieving common prosperity is not a distant dream for China, as the government has moved to narrow the wealth gap via secondary distribution.
China on Tuesday unveiled reform guidelines on income distribution amid growing public concerns over a widening wealth gap.
South Korea has seen the largest wage and income account deficit, renewing the all-time high registered in 2011.
After China's released its official Gini coefficient last week, the capital, Beijing says it will release its own Gini coefficient for 2012 soon - the first city in the country, to do so.
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