China to strengthen tax reforms to attain 'common prosperity': Xinhua

China will "strengthen adjustments" in tax collection to boost revenue and reform the country's income distribution, but in a targeted and accurate way, as part of efforts to achieve long-term "common prosperity", state-run Xinhua news agency said.

China aims to "divide the pie" by "reasonably" adjusting the income of its top-earners and elevating the earnings of lower-income groups, Xinhua wrote in a question-and-answer piece on the Chinese economy.