Household income reforms unveiled

China will fast track its payment system reforms to boost household income, especially those of the medium- and low-income group, and spur consumption, the State Council said on Monday.

The cabinet yesterday listed as many as nine steps to increase household income, according to a statement on the reform guidelines posted on its website.

Executives of State-owned enterprises may see their salaries trimmed to narrow the gap between the rich and the poor amid an economic slump that has put pressure on profits and wiped out millions of jobs, according to the statement.