Study on the Measurement of the Development Level of Common Prosperity

Constructing a comprehensive prosperity evaluation index system from the dimensions of“affluence”and“commonality,”consisting of 23 detailed indicators,this study utilizes the entropy method and provincial panel data from 2011 to 2020 to measure the level of common prosperity across Chinese provinces.The research findings indicate an overall upward trend in the common prosperity development level among provinces during the sample period.Beijing,Shanghai,Zhejiang,Guangdong,and Jiangsu exhibit the highest common prosperity indices at the provincial level.From a spatial perspective,significant disparities exist in the common prosperity levels among different regions.Consequently,policy recommendations are proposed:Tailoring strategies for regional development based on realities,reinforcing regional coordinated development,and promoting the advancement of common prosperity.

Inclusive Finance,Income Gaps and Common Prosperity

According to the Report to the 20^(th) CPC National Congress,delivering common prosperity for all the people is an intrinsic requirement of Chinese modernization.Based on China Household Finance Survey(CHFS)data from 2015 to 2019,this study examines the effects of inclusive finance on China’s household income disparities and demonstrates how inclusive finance contributes to shared prosperity.Our empirical research reveals that inclusive finance has significantly decreased the income disparities between Chinese households.Inclusive finance has significantly increased the income levels of households below the 40^(th) percentile,making it more likely for them to move above the 40^(th) percentile of incomes,which is conducive to delivering common prosperity.Our analysis indicates that inclusive finance will reduce income disparities by assisting low-income households in starting a business and by promoting rural household employment.Reflecting its inclusive nature,further investigation reveals that inclusive finance has a greater positive impact on the income level of vulnerable households.Our research offers new evidence for comprehending the role of inclusive finance and a new interpretation of income disparities,with policy implications for accelerating Chinese modernization.

The Institutional Framework of Common Prosperity in the Process of Chinese Modernization

The report to the 20th CPC National Congress makes it clear that achieving common prosperity for all is an essential requirement of Chinese modernization,and that China has come to a historical period when concrete measures can be taken to promote common prosperity with a well-researched and effective system.In the new journey of Chinese modernization,we must correctly understand productive forces and production relations,properly handle the relation between efficiency and fairness,and promote common prosperity with sound systems.Therefore,efforts must be made to create an institutional framework of common prosperity that involves three pillars—socialism with Chinese characteristics as the fundamental system,improving the efficiency and vitality of productive forces as the basic system,and preserving fairness and adjusting productive relations and income distribution as the foundational system.To succeed,we must do the following three things.First,we should uphold the system where the Party leads the country,and all our work and the people run the country.Second,we should improve the basic economic system in which public ownership is the mainstay,the high-level socialist market economy,related systems,to promote high-quality economic development,and auxiliary systems to realize common prosperity with the digital economy.Third,we should perfect the institutional arrangements related to primary,secondary,and tertiary income distribution.

People's Well-rounded Development:The Value Orientation of Common Prosperity in the New Era

Achieving common prosperity for all is an important feature of Chinese modernization and an essential requirement of socialism with Chinese characteristics,with the core value orientation of promoting the people’s well-rounded development.This reflects the close relationship between people’s well-rounded development and common prosperity and implies that common prosperity is not just an economic issue,but also a political matter,a moral subject,and a human rights goal.Being“people-centered”is the core positioning of common prosperity,with its inherent collective and individual attributes.In terms of the object dimension of prosperity,it encompasses a wide range of rights such as material and spiritual well-being,which are advanced in a coordinated manner,and a deepening level of guarantee gradually improving.In the practical concept of“shared development,”it emphasizes the unity of state obligations and individual responsibilities,as well as the phased approach and promotion of common prosperity through the rule of law.Therefore,the essence of common prosperity lies in shifting from a“material-centered”perspective to a“people’s well-rounded development-centered”perspective.It combines the principles of fairness and inclusiveness with the recognition of diverse developmental needs.The focus is on enhancing the subjective initiative of the people,aiming to truly achieve the happiness of the people and promote people’s well-rounded development through the realization of“common prosperity.”

The Rights Logic of Common Prosperity:Structure,Evolution,and Path to Implementation

The concept of common prosperity embodies the right of the people to a happy life,which is in line with General Secretary Xi Jinping’s proposition that“the people’s happiness is the greatest human right.”Its rights structure has the attributes of collective rights,reflecting the people’s pursuit of material civilization,spiritual civilization,harmony,beauty,and other social values.The realization of these rights is based on individual diligent labor and also entails human rights responsibilities of the state and society.Since the Third Plenary Session of the 11th Central Committee,China has pursued the basic policy of reform and opening-up,dismantling institutional barriers that hindered the development of productivity and the full realization of rights.This has stimulated the initiative,enthusiasm,and creativity of the people in their endeavors and entrepreneurship,leading to a historic leap from standing up to becoming prosperous.The living standards of the people have greatly improved.In the new journey toward achieving the second centenary goal,China should follow the important discourse of General Secretary Xi Jinping on respecting and protecting human rights,take the path of socialist human rights with Chinese characteristics,and better meet the growing aspirations of the people for a better life in the pursuit of high-quality economic development.

The Realization of Common Prosperity through Relative Poverty Alleviation:Gradient Development and Optimization

Relative poverty alleviation is explicitly consistent with common prosperity.Relative poverty alleviation,which is part of the modernization of national governance capacity,is both an objective requirement of effective poverty alleviation and an inevitable approach to the realization of common prosperity.The alleviation of relative poverty and the realization of common prosperity are intrinsically coupled because they feature overlapping time sequences,monistic values,superimposed fields,similar systems,and homogeneous elements.The relationship between the two is essentially symbiotic,coexistent,and synergistic.Consequently,how to effectively alleviate relative poverty and build a dynamic long-term mechanism for relative poverty alleviation will be one of the major challenges for China to tackle before it can make more obvious and substantial progress toward common prosperity for all by 2035.This paper proposes relevant countermeasures and suggestions,which mainly concern the building of a dynamic,multi-dimensional mechanism for relative poverty alleviation and a coordinated mode for the two missions.The aim is to achieve a balanced integration of the academic logic,social logic,and policy logic.

The Moral Orientation of Solidly Promoting Common Prosperity for All People in the New Era

The moral connotation of solidly promoting common prosperity for all people in the new era has been formed in the interaction between history and practice.It features the full coverage of the subjects of common prosperity,the richness of the content,the gradualness of the process,and the authenticity of the practice.As the core structural elements,the three units of consciousness,namely,the moral logic of putting people first,the moral model of coordinated development,and the moral ideal of coexistence,form the organic whole of the moral pattern of solidly promoting common prosperity for all people in the new era.The moral practice of solidly promoting common prosperity for all people in the new era refers to the maximum realization of the value and dignity of human survival and development.The pursuit of high-quality development is also the striving for common prosperity,the pioneering spirit and collective consciousness highlighted in the construction of the demonstration zones for realizing common prosperity,and the role of the third distribution and the upholding of fairness and justice have vividly demonstrated the moral practice of solidly promoting common prosperity for all people in the new era.

A Common Prosperity

As China celebrates 40 years of reform and opening up,it shares mutual development with Africa The default impression of China for many foreigners three or four decades ago was kungfu movies.However,things have changed and the country has transformed into a land of highspeed

The Chinese Path to Rural Common Prosperity:Based on an Analysis of Jiangsu and Zhejiang Rural Demonstration Projects

Common prosperity in rural areas is integral to achieving common prosperity.This paper makes an in-depth analysis of Jiangsu and Zhejiang rural demonstration projects from a state-society interaction perspective.Pathway analysis is based on the framework of“high-level promotion-endogenous development”linked by the advancement of the building of the Communist Party of China and the Party’s leading role:high-level promotion,through multi-level responsibilization,ensures policy implementation,while endogenous development,driven by endogenous breakthroughs and economies of scale brought about by industrial integration,generates explosive dynamics through common interest bonding.By linking high-level promotion with endogenous development,the advancement of Party building and the Party’s leading role ensure benign interaction between state and society.The combined efforts of state and society creates a“common prosperity effect,”effectively solving the thorny problem of“weak society”in the welfare system of developing countries and that of the“welfare trap”in the welfare system of welfare states.This,in a sense,enables China to embark on the road to rural common prosperity.

Scientific Connotation,Intrinsic Relationship,and Strategic Key Points for Rural Revitalization under the Goal of Common Prosperity

This paper analyzes rural revitalization under the goal of common prosperity.Firstly,on the basis of making clear what common prosperity is in the new era along with its connotation,the connotation of rural revitalization under the goal of common prosperity is systematically delved into six dimensions:subject,motivation,content,path,process,and goal.Secondly,the intrinsic relationship between common prosperity and rural revitalization is examined from the perspectives of rural revitalization,common prosperity,and development.Thirdly,grounded on theoretical analysis,this paper outlines strategic key points for rural revitalization under the goal of common prosperity upon applying designing principles to practice.

Common Prosperity and Reshaping China's Economic Cycle: Theoretical Logic and Empirical Evidence from a Political Economic Perspective

Fostering a new development dynamic is in nature about reshaping the relations between domestic and international economic cycles to achieve self-reliance and self-strengthening at higher levels.Economic cycle is the integration of various links such as production,distribution,exchange and consumption.This paper attempts to study the influence on economic cycle from income distribution based on the principles of political economy and therefore link common prosperity with the new development dynamic.It finds that labor income share is central to income distribution.On the supply side,income distribution affects choice of technology and production eficiency through changing wages;on the demand side,it influences size of demand and level of capacity utilization both directly and indirectly.Specifically,changing wages lead to changing size of reproduction and consumption by laborers in the direct way and cause changing profit margins and thus affect accumulation in the indirect way.The two channels produce effects simultaneously,yet in opposite directions,which justifies the categorization of economies into"profit-oriented"and"wage-oriented"ones according to the different influence of changing wages on the level of capacity utilization.In this theoretical logic,the paper comprehensively analyzes China's income distribution,wages,all labor productivity,organic composition of capital,profit margins,accumulation rates,level of capacity utilization and relations between domestic and international economic cycles,and finds that Chinese economy has turned from"profit-oriented"to"wageoriented"since the turning point of 2010.It signals both necessity and feasibility of promoting common prosperity and fostering a new development dynamic.This paper also proposes some policy suggestions on promoting common prosperity from the perspectives of ownership,distribution,government-market relations and spatial structure.

Growth and Common Prosperity in China

This paper introduces a decomposition method that quantifies the contributions to common prosperity of labor market performance and social policies and extends the idea of shared prosperity to a new measure of inequity in opportunities.The resulting common prosperity indices and opportunity equality indices are then applied to five waves of the Chinese Household Income Project data from 1988 to 2018.This paper shows that the labor market performance and social policies have been improving over the last 30 years and have helped China move towards common prosperity for everyone.The indices developed in this paper allow us to quantify the extent of shared prosperity that a country has achieved and to carry out empirical studies on which policy is working and which is not.It can also help us identify the fundamental causes of inequality and aid us in achieving equality in opportunity among all members of society.

Epidemics,Convergence,and Common Prosperity:Evidence from China

This article investigates the impact of previous epidemics on rural development and convergence,and identifies the impacts mechanism based on convergence tests.Using a balanced panel of 31 provinces,the empirical results from 2002 to 2019 show that epidemics decelerated convergence in rural per capita income.The mechanism analysis shows that the accelerated divergence in wages and the decelerated convergence in business income were the major drivers,which also led to decelerated convergence in rural per capita consumption.Although epidemics have not threatened rural food consumption and the Engel coefficient of rural households,these two indicators of basic living needs have failed to achieve convergence across regions.The overall impact of an epidemic on convergence in rural-urban income disparity has also been insignificant,indicating that epidemics have affected rural and urban development simultaneously.Finally,COVID-19 is likely to decelerate convergence in rural income,rural consumption,and urban income.

Theoretical Connotation and Quantitative Measurement of Common Prosperity

It is of great importance to fully understand the connotation of and identify a quantitative method to measure common prosperity in China.This paper starts with a theoretical framework of fairness,efficiency,development,and shared prosperity,draws upon the proper understanding of common prosperity with Chinese characteristics,and explores a globally quantitative measurement of common prosperity,with a focus on the outcomes of national prosperity and prosperity for all.Furthermore,this paper discusses the assumptions and mathematical expressions of the quantitative function and analyzes the structural implications of indicator dimensions,functional relations,and variable standardization to ultimately provide a solid quantitative foundation for promoting common prosperity.The findings show that the quantitative measurement of common prosperity proposed in this paper performs stably in terms of weights,thresholds,and indicator settings.Based on the data of 162 economies collected between 1990 and 2020,this paper finds that China has made great progress in promoting common prosperity,which showcases the strengths of the country’s socialist system.

Coordination of Income Distribution System and Promotion of Common Prosperity Path

This paper aims at summarizing the evolutionary law of income distribution system and providing a reference for the coordination arrangement of primary distribution,redistribution and third distribution policies.Based on policies,this paper refi nes the evolutionary law of income distribution and estimates the proportional relationship among primary distribution,redistribution and third distribution by using the national income data.Its new insight lies in abstracting the evolutionary logic of the income distribution system shifting from emphasizing effi ciency to prioritizing equity and estimating the proportional relationship among the primary distribution,redistribution and third distribution.The study found that China’s income distribution system follows the evolutionary logic of shifting from efficiency to equity.In addition,China has overcome egalitarianism,given priority to effi ciency with due consideration to equity,and placed more emphasis on equity while balancing the relationship between equity and effi ciency,promoting the four stages of common prosperity.Primary distribution,the dominant mechanism for income distribution,is required to provide an equitable distribution order.Redistribution,an important means of income distribution,needs to increase expenditures on people’s living and social security.Third distribution,a useful supplement to income distribution,needs to design a policy system for incentive compatibility.This paper provides policy references for promoting common prosperity and conducting fundamental institutional arrangements for primary distribution,redistribution and third distribution.

The Research on the Relationship between Corporate Social Responsibility and Common Prosperity

Corporate social responsibility(CSR)and common prosperity have the consistency of philosophy and goal.In the process of delivering CSR,enterprises can integrate their tangible and intangible assets to realize a positive cycle of sustainable development and common prosperity.Enterprises can also open up space for both commercial and social value by integrating altruism with self-interest,public welfare with utilitarianism,cost with capital,and today’s development with tomorrow’s development.Indeed,the unification of commercial value and social value can extend pathways to common prosperity and improve common prosperity.By way of the super CSR,enterprises can spread the wealth of their culture and values to society through material products,ethical products,and intergenerational inheritance based on the high compatibility of enterprise high-dimensional culture,enterprise craftsmanship,and enterprise civilizations.They can thus play a leading role in promoting the ethical wealth of the whole of society.Public and private enterprises should maximize their respective advantages in promoting common prosperity of society for realizing the common progress of the people,and should strike a balance between efficiency and fairness.

TOWARD COMMON PROSPERITY

nitiated a decade ago, the Group of 20 (G20) summits have played an important role in response to the international financial crisis. Currently, the global economy is at a crucial juncture, as regional economic integration and globalization turn into an irreversible trend recognized by most countries around the world.

Empowerment of Common Prosperity through Digital Economy: Pathways and Policy Design

China’s entry into common prosperity coincides with digital economy at the same period. As China gradually enters the digital era, the common prosperity is bound to rely on the digital economy, and both have a strong fit. This paper analyzes the realization path of common prosperity from the perspective of digital economy, showing that digital economy can promote not only the general growth of macro economy, namely, “making the cake bigger,” but also regional industrial decentralization, urban and rural coordination and the construction of a unified national market, which is conducive to balanced growth, namely, “dividing the cake.” Moreover, it can make up for the shortage of public services, improve the service capacity of the government, make digital infrastructure more adequate and balanced, and accelerate the equalization of basic public services. Meanwhile, digital economy may also lead to structural unemployment of labor force and other problems. Therefore, it is necessary to maximize its strengths and avoid its weaknesses in policy design so as to achieve the result with less efforts and promote the cause of common prosperity in a sustained and steady way.

Promoting the Reform of the Income Distribution System to Facilitate the Realization of Common Prosperity

Common prosperity is the essential requirement of the socialist system, and one of the important goals of China’s modernization. Common prosperity is a long-term goal, and its realization is a long-term development course. This paper expounds on the connotations and fundamental requirements of common prosperity, discusses the challenges anticipated in realizing common prosperity in China from the perspectives of income gap, property distribution gap and public services, and expatiates common prosperity as a long-term and complex course involving many difficulties. Next, this paper proposes a detailed plan for the realization of common prosperity by reforming the income distribution system and promoting the equalization of basic public services, with the view of improving the capacity of all the people to develop in a comprehensive manner.