ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

Xi's China moves away from Deng Xiaoping's 'get rich first'

President calls for wealth redistribution and clampdown on high incomes

A screen shows late Chinese leader Deng Xiaoping during a show commemorating the 100th anniversary of the founding of the Communist Party of China at the National Stadium in Beijing on June 28.    © Reuters

SINGAPORE/BEIJING (Financial Times) -- 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 is 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 emphasized the need to "regulate excessively high incomes and encourage high-income groups and enterprises to return more to society."

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more