Xi seeks ‘common prosperity’ while curbing China financial risks

President Xi Jinping said China must pursue "common prosperity,” in which wealth is shared by all people. - Xinhua

BEIJING: President Xi Jinping said China must pursue "common prosperity,” in which wealth is shared by all people, as a key feature of a modern economy, while also curbing financial risks.

Xi chaired a meeting of the Communist Party’s Central Committee for Financial and Economic Affairs on Tuesday, in which officials outlined plans to advance those goals. Among those were pledges to adjust excessive income and encourage the wealthy to "give back to society more,” according to a summary of the meeting published by state media Xinhua.