HK's rising wealth gap poses challenge
Source: Bloomberg News |
June 19, 2012, Tuesday
|
Print Edition
Print Edition
HONG Kong's wealth gap increased in the decade to 2011 as its population aged and employers demanded more high-skilled workers.
The city's Gini coefficient, an index of the income gap, rose to 0.537 in 2011, from 0.525 in 2001, the government said yesterday in a report. The gap is wider than in Canada, the UK, the US, Australia and Singapore, the report said.
The report highlighted the challenges that incoming Chief Executive Leung Chun-ying faces when he takes office on July 1 after pledging to aid low-income earners and increase housing supply.
"Restructuring of the economy leading to a shift in demand from the traditional low-skilled workers to high-skilled high-income workers was one of the key factors behind the widening income disparity," the report said.
The city's Gini coefficient, an index of the income gap, rose to 0.537 in 2011, from 0.525 in 2001, the government said yesterday in a report. The gap is wider than in Canada, the UK, the US, Australia and Singapore, the report said.
The report highlighted the challenges that incoming Chief Executive Leung Chun-ying faces when he takes office on July 1 after pledging to aid low-income earners and increase housing supply.
"Restructuring of the economy leading to a shift in demand from the traditional low-skilled workers to high-skilled high-income workers was one of the key factors behind the widening income disparity," the report said.
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