The Distribution Of Wealth In China

The gap between the rich and the poor has become the focus of today's society,this gap has two dimensions: income gap and wealth gap.The wealth gap is a cumulative gap,while the income gap is a kind of instant gap.The first step in narrowing the income gap is the wealth equality.Peking University's "China's people livelihood development report 2014" shows that China's household wealth gap is constantly expanding.The expansion of the wealth gap will not only lead to the unbalanced development of consumption,investment and export,but also cause a country to fall into,hinder economic growth,resulting in increased social contradictions.Therefore,it is necessary to measure the size of household wealth gap in China,and to understand the factors that affect the size of household wealth,so as to reduce the wealth gap in China to provide effective countermeasures and suggestions.Firstly,in this paper,on the basis of the relevant theory and literature review at home and abroad,this paper defines the meaning of wealth and analyzes the measurement index of wealth gap and the distribution model of wealth.Using CHFS(China Household Finance Survey)micro data in 2011 and 2013,the household wealth data are classified according to the definition of net wealth in LWS(Luxembourg Wealth Study),to calculate the net wealth of the household.Secondly,the size and trend of wealth gap across overall,urban and rural areas in2011 and 2013 were analyzed by using the ten-equal grouping method,Lorenz curve and Gini coefficient.At the same time,in order to study the influence of the "poor" and "rich" groups on household wealth gap in China,this paper makes a study on the "poor" and "rich" in our household.Thirdly,we use the static comparative analysis to compare the wealth gap between China and the OECD countries in the LWS database.Finally,the main influencing factors of family wealth in China are analyzed.The main conclusions of this paper through theoretical and empirical research results are as follows: Firstly,China's household wealth gap in 2011 and 2013 showed the rural household wealth gap is greater than the urban household wealth gap,and the wealth gap between the three dimensions of the overall,urban and rural is expanding,among them,the expansion of rural wealth gap is smaller than the urban.Secondly,The main reason for the expansion of urban wealth gap is that the contribution of total debt and land asset inequality to the wealth gap is increasing.In addition to the above two factors,the main reason for the expansion of China's ruralwealth gap also includes other assets.Thirdly,in the study of different groups,this paper finds that the poorest 1% of the group's wealth gap widening range is more than the richest 1% of the group's wealth gap widening range in 2011 and 2013.Fourthly,in the comparative study of China and foreign countries,the paper found that US is still the largest wealth inequality,China's household wealth gap after the United States,higher than Canada,Australia,Britain,Italy and other countries;In all the subjects,the contribution of non-financial assets(including residential and investment properties)to the wealth gap is the largest.Finally,in the analysis of the factors on the impact of China's household wealth size,found that the head of the household age,education level,occupation type,household per capita income,per capita GDP of the provinces,whether they own their own housing,whether they have pension insurance have a significant impact on the size of household wealth,and the urban and rural differences in the levels of education,housing prices gap between urban and rural,whether they have pension insurance are the main reasons for China's urban and rural wealth gap.Based on the above research,this paper from the perspective of narrowing the gap of household wealth put forward some countermeasures and suggestions.