Xi says China will achieve ‘common prosperity’ by around 2050 -party publication
© Reuters. FILE PHOTO: Chinese President Xi Jinping speaks at a meeting commemorating the 110th anniversary of Xinhai Revolution at the Great Hall of the People in Beijing, China October 9, 2021. REUTERS/Carlos Garcia Rawlins/File Photo
BEIJING (Reuters) – China’s President Xi Jinping said China will achieve “common prosperity” by around mid-century.
“Common prosperity” is a broad policy drive to narrow the gap between rich and poor. It has involved a wave of regulatory crackdowns on excesses in industries including technology and private tuition.
In an essay published in the ruling Communist Party’s publication Qiushi, Xi also said that the government should not make promises it could not deliver on and avoid the “trap” of “welfarism”.