People’s Daily Convenes Summit on Common Prosperity in Hangzhou

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The flagship newspaper of the Chinese Communist Party (CCP) has held a summit on Xi Jinping’s “Common Prosperity” policy in the affluent coastal province of Zhejiang.

On 20 May the People’s Daily and the Zhejiang province government jointly held the “Summit on Consolidating and Advancing Common Prosperity” (扎实推动共同富裕高峰论坛) in the Zhejiang province capital of Hangzhou.

The Summit stressed the importance of the manufacturing sector, innovation and private enterprise to China’s efforts to reduce the economic wealth gap under the Common Prosperity policy.

“Driving common prosperity requires us to drive the high-quality development of manufacturing, continue to expand the total wealth of all of society, and effectively increase the size of the ‘cake'” said Tao Guanfeng (陶关锋), deputy mayor of the Zhejiang province city of Shaoxing.

“We must greatly increase independent innovation capability and accelerate the creation of new competitive advantages in industry,” said Shi Yulong (史育龙), chair of the Xi Jinping Economic Thought Research Centre (习近平经济思想研究中心).

“Private enterprises are the witnesses to and beneficiaries of common prosperity, as well as its key participant and drivers” said Nan Cunhui (南存辉), deputy-chair of the All-China Federation of Industry and Commerce.