BEIJING, June 13, 2021 /PRNewswire/ -- China's
eastern Zhejiang province is
expected to make substantial progress in building a demonstration
zone for common prosperity through high-quality development,
according to a guideline released by the Communist Party of China
Central Committee and the State Council on Thursday.
The guideline rolled out multiple measures to guide the province
in setting an example for promoting common prosperity.
By 2025, Zhejiang should
achieve solid progress in building the demonstration zone, with its
per capita gross domestic product (GDP) reaching the level of
moderately developed economies, while a social structure with a
middle-income population as the majority should be generally
developed by then, the guideline said.
And 10 years after that, the province will achieve greater
success in high-quality development, achieving common prosperity on
the whole, according to the guideline.
Promoting the common prosperity of all Chinese people is an
arduous and long-term task that cannot be fully implemented in a
short time. Thus, the urgent need is to select some areas with
relatively sufficient conditions as a pilot, the National
Development and Reform Commission (NDRC) said in response to
reporters' question on China's
plans in Zhejiang.
Zhejiang's pioneering
role
Building the demonstration zone in Zhejiang is conducive to promoting more
coordination between urban and rural income distribution, boosting
industrial development and optimizing public services, according to
a research from Bank of China Research Institute.
As China is now the
second-largest economy in the world, more attention should be paid
to the coordination between urban and rural income growth and
economic growth to narrow the income gap and strengthen
middle-income groups. Zhejiang
demonstration zone will broaden the income channels of urban and
rural residents, and explore ways to increase the income of low-and
middle-income groups, as well as improve the salary distribution
policy for skilled talents, the research said.
Zhejiang has a developed
economy, a strong sense of reform and innovation, and enjoys the
foundation and advantages for the building of demonstration zones.
The guideline said Zhejiang should
build a coordinated advancement of industrial and consumption
upgrading, to better meet people's diversified needs, which
requires high-end, intelligent, and market-oriented development in
the industry, and promote the vitality of labor, technology,
state-owned and private capital and other factors, according to the
research.
Why was Zhejiang
selected?
Zhejiang Province has achieved
obvious results in exploring and solving the problem of unbalanced
and insufficient development; the fruits achieved through reforms
there will provide experience for other parts of the country,
China's state planner said.
Zhejiang is a comparatively
wealthy province. Its residents' per capita disposable income stood
at 52,400 yuan (about $8,199) in 2020, second only to Shanghai and Beijing.
The development there is also well-balanced as rural residents
account for half of its total population, but the income
differential between urban and rural residents is 1.96, much lower
than the national 2.56.
All parts of Zhejiang generally
show a relatively strong sense of reform and innovation, offering
various advanced reform experiences such as quick and easy one-stop
services. Despite all these services, the potential for further
growth and prosperity remains strong in the province, for instance,
in anti-monopoly management and preventing disorderly expansion of
capital.
According to the NDRC, the problem-oriented guideline focuses on
the weakest link hindering common prosperity and puts forward key
measures to narrow the gap between urban and rural regional
development and income distribution among different groups.
https://news.cgtn.com/news/2021-06-10/China-issues-measures-on-building-common-prosperity-demonstration-zone-10Z2gdPHHCE/index.html
Video: https://www.youtube.com/watch?v=IMT-NWwWKwo