BEIJING - China's latest drive to close the widening gap between its rich and poor by clamping down on top earners such as tech billionaires has stoked fears that the world's second-largest economy will lose its lustre.
Concerns about heavier government intervention arose among some economists last month, right after policymakers vowed to "adjust excessive incomes" in China, where the top 1 per cent holds more wealth than half of the population.
Already a subscriber? Log in
Read the full story and more at $9.90/month
Get exclusive reports and insights with more than 500 subscriber-only articles every month
ST One Digital
$9.90/month
No contract
ST app access on 1 mobile device
Unlock these benefits
All subscriber-only content on ST app and straitstimes.com
Easy access any time via ST app on 1 mobile device
E-paper with 2-week archive so you won't miss out on content that matters to you
