Chinese president vows to ‘adjust excessive incomes’ of super rich

Chinese Communist party to crack down on almost weekly creation of billionaire company bosses

China's president has vowed to adjust excessive incomes" in a warning to the country's super-rich that the state plans to redistribute wealth to tackle widening inequality.

According to reports in state media, Xi Jinping told officials at a meeting of the Chinese Communist party's central financial and economic affairs commission on Tuesday, that the government should regulate excessively high incomes and encourage high-income groups and enterprises to return more to society".