CGTN: China to build Zhejiang into demonstration zone for common prosperity
PR90091
BEIJING, June 15, 2021 /PRNewswire=KYODO JBN/ --
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.
https://www.youtube.com/watch?v=IMT-NWwWKwo
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.
SOURCE CGTN
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