Xi stresses promoting common prosperity

BEIJING: President Xi Jinping stressed efforts to promote common prosperity in the pursuit of high-quality development and coordinate work on forestalling major financial risks.
Xi, also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, made the remarks at the tenth meeting of the Central Committee for Financial and Economic Affairs. He is also head of the committee.
Common prosperity is an essential requirement of socialism and a key feature of Chinese-style modernization, Xi said, calling for adhering to the people-centered development philosophy and promoting common prosperity while pursuing high-quality development.
Noting that finance is the core of the modern economy, the president stressed that efforts to fend off major financial risks should be coordinated in line with market principles and the rule of law.
Other Chinese leaders including Li Keqiang, Wang Yang, Wang Huning and Han Zheng attended the meeting.
The meeting heard reports from relevant departments on advancing common prosperity as well as forestalling major financial risks and stabilizing financial development.
As China marches towards its second centenary goal, the focus of promoting people’s well-being should be put on boosting common prosperity to strengthen the foundation for the Party’s long-term governance, said the meeting.
Rather than being egalitarian or having only a few people prosperous, common prosperity refers to affluence shared by everyone, both in material and cultural terms, and shall be advanced step by step, it said.
The meeting encouraged creating conditions that are more inclusive and fair for people to get better education and improve their development capabilities, as well as shaping a development environment that provides chances for more people to become wealthy. – Agencies