Zhejiang strives to achieve common prosperity
In June 2021, China's central authorities issued a guideline on building Zhejiang into demonstration zone for achieving common prosperity. Under the guideline, the province will strive to achieve common prosperity by 2035, with its per capita gross domestic product and the income of urban and rural residents reaching the standard for developed countries.
As an economic powerhouse in east China, Zhejiang Province has drawn up detailed plans to achieve common prosperity. As per estimates, labor remuneration will account for more than 50 percent of its GDP by 2025, and the ratio of residents' per capita disposable income to per capita GDP will continue to increase during the period.
The province will explore breakthroughs to build a high-quality employment and entrepreneurship system, improve the quality of social security mechanism, promote the sharing of quality public services, and aim to achieve common prosperity in spiritual life.