SOURCE / ECONOMY
President Xi urges efforts for common prosperity with buzzwords
Published: Oct 15, 2021 11:05 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


An article by Xi Jinping, general secretary of the Communist Party of China (CPC) Central Committee, on the concrete actions to promote common prosperity will be published.

The article by Xi, which will be published Saturday in this year's 20th issue of the Qiushi Journal, a flagship magazine of the CPC Central Committee, stated the country has entered a stage in which concrete steps should be taken to promote common prosperity.

Rather than being egalitarian or having only a few people prosperous, common prosperity refers to affluence shared by everyone, physically and intellectually, it says.

Attaining affluence through hard work and innovation is encouraged, the article says, adding that the country's basic economic system must be upheld and a step-by-step approach should be followed.

Common prosperity should be promoted following the people-centered development philosophy and high-quality development, the article says, stressing the balance between efficiency and fairness, as well as the construction of a set of institutional arrangements on a coordinated three-tier income distribution system.

Notably, Xi used some internet buzzwords in the article.

It is necessary to prevent the solidification of the social class, unblock the upward flow, create opportunities for more people to become rich, form a development environment in which everyone participates, and avoid "involution" and "lying flat," Xi wrote in an article, 

As a new online vocabulary, "involution" means irrational or involuntary competition. It is different from "lying flat," which describes the state of giving up one's ambitions and doing the bare minimum to get by.

The pair of buzzwords reflects the pressure and impact brought by intense competition and commercialization in today's society.

Such words were also used in a keynote speech by Qin Gang, Chinese Ambassador to the US, on October 6 when he virtually attended the opening session of the forum on tourism, hospitality and cultural exchange co-hosted by the US-Asia Institute and Las Vegas Sands Corporation.

"The buzzwords I shared with you today reflect the changing and unchanging elements in our values when China experiences rapid economic growth and profound social transformation," Qin said. "[With the buzzwords,] you will know what is going on in China, what the Chinese people are thinking about, and what they are doing."

President Xi also said the government will expand the size of middle-income groups and strengthen regulation of high-income groups.

Xi also said it will encourage high-income groups and enterprises to give back to society more. It is necessary to clean up and regulate unreasonable income, and enhance management over the income distribution in monopoly industries and state-owned enterprises.

The article was part of Xi's speech at the 10th meeting of the Central Committee for Financial and Economic Affairs on August 17. 

At the meeting, Xi stressed efforts to promote common prosperity in the pursuit of high-quality development and coordinate work on forestalling major financial risks.

The meeting underlined efforts to properly deal with the relationship between efficiency and fairness, make basic institutional arrangements on income distribution, expand the size of the middle-income group, increase the earnings of low-income groups, adjust excessive incomes and prohibit illicit income to promote social fairness and justice.

Global Times


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