SOURCE / ECONOMY
East China's Zhejiang unveils detailed plan to establish a common prosperity demonstration zone
Published: Jul 19, 2021 11:04 PM
Most of the houses in the Dongling nature village in Taizhou, East China’s Zhejiang Province have installed solar photovoltaic panels on their roofs to generate electricity. Photo: cnsphoto

Most of the houses in the Dongling nature village in Taizhou, East China’s Zhejiang Province have installed solar photovoltaic panels on their roofs to generate electricity. Photo: cnsphoto


Authorities in East China's Zhejiang Province launched on Monday a detailed roadmap for 2021 to 2025 to build a common prosperity demonstration zone in the province. The guidelines aim to increase residents' per capita disposable income to 75,000 yuan ($11,560.88) by 2025.

According to the plan, labor compensation will account for more than 50 percent of GDP by 2025, and the ratio of residents' per capita disposable income to per capita GDP will continue to increase during the period.

Education, one of the main development indicators, is projected to reach the international and domestic advanced level with a gross enrollment rate in higher education of more than 70 percent. The average years of education for children will reach 15.5 years.

Main health indicators will reach the level of high-income countries. The average life expectancy will be more than 80 years old and the proportion of personal health expenditure versus the total health expenditure will be managed to be below 26 percent.

Moreover, the province is also planning the layout of advanced technologies and cutting-edge industries, like artificial intelligence, blockchain and third-generation semiconductors, to reach the world's most advanced level in some areas. 

The detailed plan comes as the central authorities issued a guideline in June on the development of the coastal province of Zhejiang into a demonstration zone to achieve common prosperity. The guideline, jointly released by the Communist Party of China Central Committee and the State Council, includes multiple measures to guide the province in setting an example in the promotion of common prosperity.

By 2025, Zhejiang should achieve solid progress in building the demonstration zone with its per capita GDP reaching the level of moderately developed economies. By then, a social structure with a middle-income population as the majority should be generally developed , the document said.

Being one of China's most developed provinces, Zhejiang's gross domestic product reached 6.46 trillion yuan, with per capita GDP exceeding 100,000 yuan in 2020. 

The per capita disposable income in Zhejiang was 1.63 times the national average and per capita disposable income of urban and rural residents in the province has ranked first at the provincial level for 20 and 36 consecutive years respectively, according to a report from Xinhua News Agency.

Upholding a people-centered philosophy of development, China is attaching greater importance to pursuing prosperity for all. 

The CPC leadership has released the new goals for the 14th Five-Year Plan (2021-25) and Long-Range Objectives through the year 2035, including reducing the income gap, to basically achieve socialist modernization and a per capita GDP close to the level of medium-level developed countries, around $20,000 to $30,000, by 2035.

At the same time, China will continue to build common prosperity in society until 2040, upon which China will steadily embark on the final-decade endeavor of the second centenary goal.




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