Tag Archives: common prosperity

Common Prosperity Vision

Chinese leader articulates more details of his plan to rein in excessive riches and spread more liberally the nation’s growing wealth.

China will reform its tax and household registration systems, push anti-trust enforcement and improve public services to reduce the national wealth gap, President Xi Jinping told the Communist Party’s financial and economic affairs committee in an August 17 speech.

His ideas were set out in an article based on the speech and are now viewed as a blueprint of the dramatic changes the leader is imposing across the country.

Read more at “Xi fleshes out his ‘common prosperity’ vision”

Leave a comment

Filed under chinese culture, workplace insights

Religious Teachings 

The “Administrative Measures for Off-campus Training Materials” confirm that the crackdown on private tutoring is about ideology, not money only.

On September 1, the Chinese Ministry of Education published its “Administrative Measures for Off-campus Training Materials for Primary and Secondary School Students.” By “off-campus training,” the CCP means the private tutoring services that help students preparing for the difficult Chinese exams.

The crackdown on this multi-million-dollar market has been presented as a way to save money tutors milk out of struggling families, while realizing Xi Jinping’s goal of “common prosperity” by preventing the children of the rich from gaining advantages in the competitive Chinese school system thanks to their access to expensive private tutoring.

Read more at “Material for Students Cannot Propagate Religious Teachings”

Leave a comment

Filed under chinese culture, workplace insights

Common Prosperity

China could soon reduce the gap between the rich and poor by imposing new taxes on property and inheritance, capping state-owned-enterprise (SOE) executives’ salaries, strengthening antitrust enforcement and promoting more charity.

All these suggestions were made by economists and commentators soon after President Xi Jinping spoke at a top Communist Party financial and economic affairs committee meeting where the leader said China should aim to promote “common prosperity.”

Xi, who is also party general secretary, also told the committee that the country should pursue high-quality development and coordinate work on forestalling major financial risks. The announcement is the latest in a series of regulations and moves that are raising new questions about China’s capitalist credentials.

Read more at “Wealth gap sparks Xi’s call for common prosperity”

Leave a comment

Filed under chinese culture, workplace insights

Back to Socialism

“Socialism” is in, “Enrich yourselves” is out. Where did we hear this before? Chinese “capitalists” may learn some lessons from Bukharin.

“Common prosperity” (共同富裕) is the new big thing in China. There is, of course, a “Xi Jinping thought on common prosperity,” but then there is a Xi Jinping thought for almost everything, including toilets. There are seminars and courses about common prosperity everywhere, mandatory for state bureaucrats and Party members.

There is a whole province, Zhejiang, converted into a laboratory for common prosperity. There is also widespread fear in China that with common prosperity Xi is up to no good, and will take away from the Chinese some features of the comfortable life at least the rich have enjoyed since Deng Xiaoping.

And there is fear abroad that the value of some foreign investments in China will be affected.

Read more at “Xi Jinping’s “Common Prosperity”: Back to Socialism”

Leave a comment

Filed under chinese culture, workplace insights