Underground residences and China’s wealth gap

Global Business

Wealth distribution is expected to be a key issue when the Party’s leaders meet for a draft of the country’s next Five-Year Plan.

The latest figures show a widening income gap between urban and rural residents. In some regions, people in cities have earnings multiple times higher than those in rural parts. Average income also varies from one place to another.

Beijing and Shanghai registered an average income of over 30,000 yuan in the first nine months this year. The poorest regions cannot even meet one third of that.

CCTV’s Wang Yizhi visits a downtown neighborhood in Beijing where she found a stark contrast.

Underground residences and China\'s wealth gap

Underground residences and China\'s wealth gap

Wealth distribution is expected to be a key issue when the Party's leaders meet for a draft of the country's next Five-Year Plan. The latest figures show a widening income gap between urban and rural residents. In some regions, people in cities have earnings multiple times higher than those in rural parts. Average income also varies from one place to another. Beijing and Shanghai registered an average income of over 30,000 yuan in the first nine months this year. The poorest regions cannot even meet one third of that. CCTV's Wang Yizhi visits a downtown neighborhood in Beijing where she found a stark contrast.
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Sanjay Reddy on China cuts interest rates

For more on Beijing’s been working on cutting the country’s poverty rate for quite some time now.
CCTV America interviewed Sanjay Reddy. He’s an associate economics professor for the New School for Social Research.

Sanjay Reddy on China cuts interest rates

Sanjay Reddy on China cuts interest rates

For more on Beijing's been working on cutting the country's poverty rate for quite some time now. CCTV America interviewed Sanjay Reddy. He's an associate economics professor for the New School for Social Research.
Download Video