Title

Working Paper No.24, Li, Shi; Wan, Haiyuan; Xie, Yu. The Rising Trend of Wealth Inequality in China

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2014/7/27 13:34:44

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Introduction

Household wealth is a key indicator to reflect the national economic competiveness and income level for individuals, and wealth distribution is also the central index while evaluating the social justness. With the data set of China Household Income Project 2002 and Chinese Family Panel Survey 2010, this paper gives a description of wealth quantity and wealth inequality in China during the year of 2002 and 2010. Furthermore, we also analyze the change of wealth inequality during that period in perspective of wealth structure, wealth source and wealth composition. As a result, we conclude that there is a huge amount of increase in both of wealth quantity and wealth inequality during that period. Meanwhile, the amount of wealth in 2010 is 4.1 times more than that of in 2002, while housing asset is the main reason for the overall wealth quantity in 2010. However, the wealth inequality rises dramatically after 2002, as it reaches as far as 0.739 in 2010 from 0.538 in 2002. Generally, the rapid increased housing price is the main reason to account for the large wealth inequality in recent years.

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