China's 'Mr. Income Distribution' Explains Common Prosperity.

China needs to increase direct taxes, including income tax, property tax and inheritance tax -- all the taxes directly imposed on residents. If we don't enhance the tax structure, it would be difficult for taxation to adjust income distribution. (Bloomberg) -- China's push for "common prosperity" is not just about taxing the rich but also directing resources into rural areas and the lower-income group, according to one of the country's most prominent experts studying income inequality. [Extracted from the article]