CHINESE President Xi Jinping has forecast stricter “regulation of high incomes” as part of a raft of measures to deepen public control of the economy.

At Tuesday’s meeting of the Central Financial and Economic Affairs Commission, President Xi reported that following the elimination of absolute poverty earlier this year, the Communist Party’s focus would shift to addressing inequality.

The first phase of “reform and opening up” from 1978 had allowed “some areas to get rich first,” but the new priority was “common prosperity for all,” the meeting declared. New laws would “regulate excessively high incomes and encourage high-income groups and enterprises to return more to society.”