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.

       The idea is to form an "olive-shaped" income distribution structure with a large middle and two small ends, Xinhua said. But China's taxation policy must not be misinterpreted as "robbing the rich to help the poor," Xinhua said in the Q&A piece, for which the agency said it had interviewed the "relevant departments" and "authoritative people".

       (This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)