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Xi says China will achieve ‘common prosperity’ by around 2050 -party publication By Reuters

by Mike Robinson

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© Reuters. FILE PHOTO : Chinese President Xi Jinping talks at a commemoration of the 110th anniversary of Xinhai Revolution, at the Great Hall of the People. Beijing, China. October 9, 2021. REUTERS/Carlos Garcia Rawlins/File Photo

BEIJING (Reuters), Xi Jinping, China’s President, stated that China will reach “common prosperity” around the mid-century mark.

The broad goal of “Common Prosperity” is to close the wealth gap. This has led to a series of regulatory crackdowns against excesses within certain industries, including private tuition.

In an essay in Qiushi (the ruling Communist Party publication), Xi stated that government shouldn’t make promises they can’t keep and should avoid “welfarism trap”.

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