Share this on Twitter Share this on Facebook Share this on LinkedIn Share this on Sina Weibo Share this on Wechat Share this on LinkedIn China's three richest people in 2020. From left to right: Tencent founder Pony Ma Huateng, Nongfu Spring founder Zhong Shanshan, Alibaba founder Jack Ma. Credit: Techcrunch/Wikimedia Commons/World Economic Forum Chinese leader Xi Jinping wants the country's richest to share more of their wealth. In response, China's biggest companies and wealthiest individuals have been lining up to make charitable donations in recent weeks, with “common prosperity” now an unambiguous political priority. Of course, “common prosperity” isn’t a new concept for the Chinese Communist Party. But amid rising wealth inequality and Xi’s crackdown on private enterprise in China, the idea has taken on a newfound urgency. This week, The Wire looks at the wealth of China’s elite — its rapid growth, and how its origins have changed in the nine years since Xi came to power — to give some background on why Beijing is cracking down now, and who is in its crosshairs. CHINA’S INEQUALITY PROBLEM Income inequality in China has crept upwards since the advent of China’s economic liberalization in the 1980s. The country’s Gini coefficient, a measure of income inequality, peaked at 0.4Subscribe or login to read the rest. Subscribers get full access to: Exclusive longform investigative journalism, Q&As, news and analysis, and data on Chinese business elites and corporations. We publish China scoops you won't find anywhere else. A weekly curated reading list on China from David Barboza, Pulitzer Prize-winning former Shanghai correspondent for The New York Times. A daily roundup of China finance, business and economics headlines. We offer discounts for groups, institutions and students. Go to our Subscriptions page for details.