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RE: LeoThread 2024-10-19 19:18

in LeoFinance3 months ago
  1. The Hukou System: Implemented in the late 1950s, this system tied social benefits to birthplace, creating a stark urban-rural divide.

  2. Reform Era (post-1978): While cities boomed under Deng Xiaoping's reforms, rural areas lagged behind, leading to mass migration to urban centers.

  3. Recent Developments: The abolition of agricultural taxes in 2006 and Xi Jinping's "rural revitalization" strategy have aimed to bridge the urban-rural gap.

Despite these efforts, a significant income disparity persists, with rural households earning only about 40% of their urban counterparts.