China to increase income control in monopolized sectors

 BEIJING, Dec. 20 (Xinhua) -- China will increase its control over high earnings¹ in monopolized² sectors³ next year amid efforts to address income disparities, Minister of Finance Xie Xuren said Thursday.

The government will improve its control policies on both the gross pay and the industry wage level in monopolized sectors in 2012 to optimize⁴ the national income distribution structure, Xie said at a national finance work meeting.

Unfair income distribution has been a major source of public complaint over recent years, with many targeting state-run sectors. Economists⁵ view the issue as a major obstacle in deepening the country's economic reform.

A State Council meeting in October said the government would formulate⁶ a general income distribution reform scheme in the fourth quarter of the year.

Xie said the government will also work to promote the performance pay policy in government-affiliated institutions and regulate allowances and subsidies⁷ for civil servants next year.

The meeting also pledged to maintain a proactive fiscal⁸ policy that will improve tax reform, optimize government spending and enhance quality and efficient economic growth.

In terms of social security expenditure⁹, more policy measures will be rolled out in 2013, such as an adjustment mechanism¹⁰ for the basic pension insurance of enterprises' retirees and an increase in financial subsidies for medical insurance in rural and urban areas, he said.

Xie promised more efforts in stepping up the promotion¹¹ of value-added tax (VAT¹²), as the government will embark¹³ on nationwide pilot programs on transportation and part of the tertiary industry next year.

The VAT, which is set to replace the country's current business tax, will be expanded to more regions and will cover a wider range of industries, including telecommunications, rail transport and construction and installation industries, according to Xie.

In the next year, the country will maintain a steady export policy and lower the import tariff¹⁴ for energy products, resources and raw materials.

Imports of advanced technical equipment and key industrial components¹⁵ and parts are also expected to see lower temporary tax rates, according to the meeting.

More financial measures are also expected in the next year to support strategic emerging sectors, shore up energy conservation and boost the circular economy as part of the efforts to promote quality and efficient economic growth, Xie said.

1 earnings   

n.工资收人；利润，利益，所得

参考例句：

• That old man lives on the earnings of his daughter.那个老人靠他女儿的收入维持生活。
• Last year there was a 20% decrease in his earnings.去年他的收入减少了20%。

2 monopolized   

v.垄断( monopolize的过去式和过去分词 )；独占；专卖；专营

参考例句：

• Men traditionally monopolized jobs in the printing industry. 在传统上，男人包揽了印刷行业中的所有工作。
• The oil combine monopolized the fuel sales of the country. 这家石油联合企业垄断了这个国家的原油销售。 来自互联网

3 sectors   

n.部门( sector的名词复数 )；领域；防御地区；扇形

参考例句：

• Berlin was divided into four sectors after the war. 战后柏林分成了4 个区。 来自《简明英汉词典》
• Industry and agriculture are the two important sectors of the national economy. 工业和农业是国民经济的两个重要部门。 来自《现代汉英综合大词典》

4 optimize   

v.使优化 [=optimise]

参考例句：

• We should optimize the composition of the Standing Committees.优化人大常委会组成人员的结构。
• We should optimize our import mix and focus on bringing in advanced technology and key equipment.优化进口结构，着重引进先进技术和关键设备。

5 economists   

n.经济学家，经济专家( economist的名词复数 )

参考例句：

• The sudden rise in share prices has confounded economists. 股价的突然上涨使经济学家大惑不解。
• Foreign bankers and economists cautiously welcomed the minister's initiative. 外国银行家和经济学家对部长的倡议反应谨慎。 来自《简明英汉词典》

6 formulate   

v.用公式表示；规划；设计；系统地阐述

参考例句：

• He took care to formulate his reply very clearly.他字斟句酌，清楚地做了回答。
• I was impressed by the way he could formulate his ideas.他陈述观点的方式让我印象深刻。

7 subsidies   

n.补贴，津贴，补助金( subsidy的名词复数 )

参考例句：

• European agriculture ministers failed to break the deadlock over farm subsidies. 欧洲各国农业部长在农业补贴问题上未能打破僵局。
• Agricultural subsidies absorb about half the EU's income. 农业补贴占去了欧盟收入的大约一半。 来自《简明英汉词典》

8 fiscal   

adj.财政的，会计的，国库的，国库岁入的

参考例句：

• The increase of taxation is an important fiscal policy.增税是一项重要的财政政策。
• The government has two basic strategies of fiscal policy available.政府有两个可行的财政政策基本战略。

9 expenditure   

n.(时间、劳力、金钱等)支出；使用，消耗

参考例句：

• The entry of all expenditure is necessary.有必要把一切开支入账。
• The monthly expenditure of our family is four hundred dollars altogether.我们一家的开销每月共计四百元。

10 mechanism   

n.机械装置；机构，结构

参考例句：

• The bones and muscles are parts of the mechanism of the body.骨骼和肌肉是人体的组成部件。
• The mechanism of the machine is very complicated.这台机器的结构是非常复杂的。

11 promotion   

n.提升，晋级；促销，宣传

参考例句：

• The teacher conferred with the principal about Dick's promotion.教师与校长商谈了迪克的升级问题。
• The clerk was given a promotion and an increase in salary.那个职员升了级，加了薪。

12 vat   

n.(=value added tax)增值税，大桶

参考例句：

• The office is asking for the vat papers.办事处要有关增值税的文件。
• His father emptied sacks of stale rye bread into the vat.他父亲把一袋袋发霉的黑面包倒进大桶里。

13 embark   

vi.乘船，着手，从事，上飞机

参考例句：

• He is about to embark on a new business venture.他就要开始新的商业冒险活动。
• Many people embark for Europe at New York harbor.许多人在纽约港乘船去欧洲。

14 tariff   

n.关税，税率；(旅馆、饭店等)价目表，收费表

参考例句：

• There is a very high tariff on jewelry.宝石类的关税率很高。
• The government is going to lower the tariff on importing cars.政府打算降低进口汽车的关税。

15 components   

（机器、设备等的）构成要素，零件，成分； 成分( component的名词复数 )； [物理化学]组分； [数学]分量； （混合物的）组成部分

参考例句：

• the components of a machine 机器部件
• Our chemistry teacher often reduces a compound to its components in lab. 在实验室中化学老师常把化合物分解为各种成分。