I think the initiative will serve both to reduce inequality and bolster Xi; to what degree each is yet to be seen, I can only speculate.

I do understand (and agree) with the fact that chances are Xi is not doing this out of the goodness of his heart but mostly due to self-interest to strengthen his position. However, if we separate the person from the action I still believe this measure will potentially benefit more people than it hurts and is in my opinion a positive one. Companies should always come second to people, and not just when it comes to monetary policies, but also environmental, etc.