Contemporary Finance & Economics ›› 2025, Vol. 0 ›› Issue (1): 28-41.

• Theoretical Economics • Previous Articles     Next Articles

The Historical Position of China’s Common Prosperity and Its Policy Implications

Sun Hao1,2, Ding Yi1   

  1. 1. Zhejiang Gongshang University, Hangzhou 310018;
    2. Fudan University, Shanghai 200433, China
  • Received:2024-09-03 Revised:2024-11-25 Online:2025-01-15 Published:2025-02-12

Abstract: To promote common prosperity, it is necessary to fully estimate its long-term, arduous and complex nature. To gradually promote common prosperity in stages, it is necessary to accurately understand the historical position and the advance path of common prosperity construction from the two dimensions: historical evolution and international reference. China’s common prosperity construction is still at the primary stage. The income level in the prosperity dimension is rapidly approaching the threshold standard of high-income countries, and there is huge room for income growth; while the income gap in the sharing dimension is hovering at a high level, and there is a huge challenge to narrow the income gap. With reference to the experiences of the developed countries, China’s common prosperity construction can substantially reach the pre-set goal in the prosperity dimension, i.e., the per capita GDP will reach the level of moderately developed countries by 2035, and the common prosperity of the entire population will be substantially realized by the middle of the 21st century, but there are uncertainties in the sharing dimension. Therefore, the governments at all levels should follow the principles of doing everything within one’s capacity and adhering to the gradual and orderly progress, identify the historical orientation in the construction of common prosperity, predict the future construction process, set reasonable milestones, and promote common prosperity in phases through high-quality development.

Key words: common prosperity, historical position, international reference, progress prediction

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