Gini coefficient release highlights China's resolve to bridge wealth gap (3)

After dividing the urban residents into five groups according to their incomes, the average income of the highest-earning group reached 51,456 yuan, almost five times that of the lowest-earning group with the average income of 10,354 yuan.

"China's Gini coefficient is relatively high compared with the warning level of 0.4, reflecting the severity of the yawning wealth gap," said Wang Jun, an economist at the China Center for International Economic Exchanges, an elite think tank in Beijing.

"Generally speaking, efforts should be redoubled to carry out reforms so as to narrow the rich-poor gap and prevent the country stepping into the 'middle-income trap'", he added.

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