China News Service, Beijing, December 4th (Liu Wenwen) Huang Qifan, Chairman of the Academic Committee of the International Finance Forum (IFF) and Distinguished Professor of Fudan University, stated at the 18th International Finance Forum (IFF) Global Annual Meeting on the 4th that there is no common prosperity, society There will be polarization and class consolidation, and will fall into a state of under-consumption, over-investment, or low-efficiency equilibrium.

  Huang Qifan pointed out that common prosperity is not only a moral issue, but also an economic issue. Without common prosperity, society will be polarized and stratified.

If the gap between the rich and the poor is too large or even polarization occurs, the economy will suffer from under-consumption and over-investment; if there is class consolidation, the entire society will stagnate, tear, or even become turbulent, and the overall economic cycle will fall into an inefficient equilibrium.

"Common prosperity is to jump out of this low-efficiency equilibrium, and form the income of most people to reach the middle level of wealth."

  In his view, there are five path requirements for achieving common prosperity.

  First, we must both make big cakes and share good cakes.

Making a big cake is the material basis for dividing a good cake, and dividing a good cake is also the basis for further making a big cake. The two should not be partial.

  Second, we must proceed step by step and realize it step by step.

He pointed out that the essential intentions of common prosperity are in the same line, but the forms and standard levels of expression at different stages will be different, "so common prosperity cannot be impatient."

  Third, we must narrow the gap, but not engage in egalitarianism.

Common prosperity does not mean that everyone has reached the same level. This is a misconception.

"The principle of common prosperity does not absolutely eliminate differences and turn them into no difference. We oppose egalitarian common prosperity."

  Fourth, we must embody joint labor and joint creation.

Common prosperity is the result of common struggle. It requires all people to work together, create together, work together, and share the cake. Work more and get more. It is by no means just relying on a part of people to make the cake and distribute it to those who have not worked.

  Fifth, we must base on high-quality development.

He emphasized that it is necessary to focus on narrowing regional gaps, urban-rural gaps, and industry differences, focus on promoting coordinated development, promote green development with the concept of harmonious coexistence between man and nature, promote open development in extensive exchanges with the world, and balance fairness and development. The relationship of efficiency promotes shared development.