On September 23, Professor Guo Baoxi from the School Of Economics and Management published his paper entitled “Expanding the Middle-Income Groups in Development” in the magazine Qiushi (the 19th issue of 2016).
In his paper, Professor Guo Xibao points out that the expansion of middle-income groups is to promote our society transform to an olive-shaped distribution structure, so as to stabilize the income of middle-income groups and improve low-income groups. This is related to sustainable economic development, social harmony and stability, continuous improvement of people's livelihood, therefore it is necessitated by the building of a well-off society. The current economic growth has stepped into a shift period, the initial distribution of labor compensation is low, the overall level of human resource is relatively low, social security system is not fully-fledged yet, which have restricted the expansion of middle-income groups. Therefore, to achieve the goal of expanding middle-income groups, we must adopt three approaches, namely development, stabilization and reform, so as to speed up the development of quality and efficiency, increase human capital investment efforts, maintain the overall stable price level, create a favorable institutional environment for fair competition and strengthen the social security system and tax system reform.
Qiushi magazine is run by the CPC Central Committee. (School of Economics and Management Hu Shan)
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