China Top Leadership Urges Preventing Financial Risks: Xinhua

China's top economic leadership on Tuesday stressed the need to balance between preventing major financial risks and stabilizing economic recovery, defuse systemic risks and ensure overall economic and financial stability, Xinhua News Agency reported following a meeting by the Central Leading Group on Financial and Economic Affairs, chaired by President Xi Jinping. Authorities are also asked to promote common prosperity and expand the middle-income group, according to the Xinhua report. China will increase wealth adjustment measures including taxation, social securities and transfer payments, Xinhua said. China must increase the education of its people to create opportunities for more people to get rich while insisting on public ownership as the major entity along with diverse ownerships, Xinhua said.