向松祚Xiang Songzuo, Chief Economist, Agricultural Bank of ChinaOverhauling China’s income distribution system is now the country’s greatest challenge and is tied to the stability of the entire nation. From within the system, there is increasing corruption, embezzlement, government-business collusion, abuse of privilege, and the continual increase of bureaucratic influence that will require action to constrain. There’s a need to increase personal income tax collection and crack down on tax evasion by the wealthy. In addition, there’s an urgent need to implement property tax, resource tax, and estate duty/inheritance tax. The political system is in dire need of reform. Otherwise, new policies that intend to decrease the tax burden on our people will result in more severe burdens on other aspects of their life.