On April 20, Peng Sen, president of the China Economic System Reform Research Association, said at the Boao Forum for Asia Annual Conference 2022 that the process of common prosperity is a process of adjusting income gaps and wealth gaps. Such means can further coordinate the income gap and the intergenerational transfer of wealth.
He said that after years of reform and opening up, China has formed a middle-income group with more than 400 million people and close to 500 million people.
According to the national plan for common prosperity, it is hoped that by 2025, another 100 million people will be added, and by 2035, more than 50% of Chinese families will be able to enter the middle-income group, which will play a great role in promoting common prosperity.
He believes that this process requires market-oriented reforms and the development of the private economy to make the "cake" bigger, and to achieve common prosperity in the process of making the "cake" bigger.
(Reporter Lin Shijie)
Responsible editor: [Chen Wentao]