BEIJING, March 5, 2023 /PRNewswire/ -- A report from People's Daily: The governance of a country starts with the needs of the people. Achieving common prosperity for all is one of the essential requirements of Chinese modernization.

China has promoted coordinated development across regions, adopted effective measures to improve people's wellbeing, won the battle against extreme poverty and built a moderately prosperous society in all respects. These efforts have created conditions conducive to bringing about common prosperity.

As the world's largest developing country, China has met the poverty eradication target set in the United Nations 2030 Agenda for Sustainable Development ten years ahead of schedule. It has set an example and made significant contributions to the cause of global poverty reduction.

For China, a huge country with more than 1.4 billion people, to achieve common prosperity for all is a long-term, complex and onerous task. So far, China has formulated a whole set of ideas, institutions and policies to promote common prosperity for all. It is confident in ensuring that its people share more fully and fairly in the gains of modernization.

Common prosperity is a challenging task in the development of human civilization. While pursuing modernization, some countries have encountered severe economic polarization and collapse of the middle class, which led to social divide, political polarization and rampant populism; some failed in economic transition and came to stagnation, troubled by the middle-income trap.

China takes meeting the people's aspirations for a better life as an immutable goal of its modernization drive. It will endeavor to maintain and promote social fairness and justice, bring prosperity to all, and prevent polarization.

"The common prosperity we have in mind aims to better meet people's needs for a better life. It aims to achieve, over time, overall prosperity and prosperity for all. We will leverage the role of both the market and the government and ensure both performance and fairness. We will make the pie bigger and share it fairly, and build an olive-shaped structure of income distribution," said Chinese President Xi Jinping in a written speech delivered at the APEC CEO Summit last year.

China always believes that only when countries develop together can there be true development; only when countries prosper together can there be true prosperity.

While pursuing its own development, China is constantly working for the common prosperity of the world with concrete actions.

So far, China has signed Belt and Road cooperation documents with 151 countries and 32 international organizations. The high-quality development of the Belt and Road Initiative is bringing tangible benefits to the people in participating countries.

To make global development more balanced, China proposed the Global Development Initiative, which has been supported by over 100 countries and international organizations.

On its way to modernization, China stands ready to provide more resources for global development cooperation and work with all other parties to build a global community of development, so as to make broader prospects for the common development of mankind.

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Source: People's Daily