Since the 1995 UN Beijing Women's Conference, 男女平等 has been an official 基本国策 (fundamental state policy) of China. It is enshrined in Article 48 of the Constitution and implemented through the 《妇女权益保障法》.
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男女平等 is the standard formal phrasing. Contemporary activist and academic Chinese also uses 性别平等 (gender equality), which is broader and less binary.
