Authorities aim to narrow the nation's wealth gap
China DailyExperts say income distribution system not about 'robbing the rich to aid poor' Central authorities endeavoring to narrow China's wealth gap and promote common prosperity are looking at the fast-expanding charitable sector as one of the routes to make a breakthrough in the "third distribution" of social wealth. In March, the term made its way into the country's 14th Five-Year Plan and ranked among a host of longer-term socioeconomic targets set for 2035, when China aims to "basically achieve socialist modernization". Deeper pockets The public's zeal for philanthropy emerged more than 30 years ago, when the Beijing-based China Youth Development Foundation launched Project Hope to help rural students pay for education and maintain upward social mobility. The 2020 Blue Book of Philanthropy said China's public donations reached 133 billion yuan in 2019, up almost 5 percent year-on-year.
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