Xi Jinping promoted the “common prosperity” concept last summer but then the media cooled down on it for about a year. Recently, he started talking about it again.
There have been doubts about what the Chinese Communist Party (CCP) intended to do. Its practice in the past was to confiscate the wealth from the rich and redistribute it to the people or to the “government” (the officials themselves). Chinascope has a deep analysis on this topic: Common Prosperity and Xi’s Desire to Be China’s “Greatest Leader (”http://chinascope.org/archives/28655 http://chinascope.org/archives/28655)
On August 15, People’s Daily republished Xi Jinping’s speech given on January 28, 2021.at the twenty-seventh collective study of the 19th Chinese Communist Party’s (CCP’s) Political Bureau, His speech made five points:
- Implement new development concepts (innovation, coordination, green, open, and sharing)
- Focus on common prosperity.
- Continue deepening reform and opening up.
- Have the systematic (big picture) view.
- View things from a political angle.
On August 16, when visiting Northeastern China, Xi Jinping talked about common prosperity. Xi said that Chinese-style modernization is not just for a few people. Rather all people will be rich.
Source:
1. People’s Daily, August 15, 2022
http://politics.people.com.cn/n1/2022/0815/c1024-32502880.html
2. China’s Official Government Site, August 17, 2022
http://www.gov.cn/xinwen/2022-08/17/content_5705661.htm