The 20th National Congress of the Communist Party of China opened in the morning of 16 October at the Great Hall of the People in Beijing, and General Secretary Xi Jinping made a report to the Congress on behalf of the 19th Central Committee. The report is full of highlights, and many important expressions have received attention from the outside world. What does the 20th report say about income distribution and common prosperity? Please read below.
I. Common prosperity
The overall objectives of China's development by 2030 include: a brighter and happier life for the people, a new level of disposable income per capita, a significant increase in the proportion of middle-income groups, equalisation of basic public services, basic public living conditions in rural areas, long-term social stability, and more visible and substantial progress in the all-round development of people and the common prosperity of all people.
1.Promote rural revitalization in a comprehensive manner
Adhere to the priority development of agriculture and rural areas, insist on the integrated development of urban and rural areas, and smooth the flow of urban and rural elements. We will accelerate the building of a strong agricultural country, and promote the revitalization of rural industries, talents, culture, ecology and organization. We will strengthen the foundation of food security in all aspects, fully implement the responsibility of the party and government for food security, and firmly guard the red line of 1.8 billion muof arable land.
2.Promoting coordinated regional development
In-depth implementation of regional coordinated development strategies, major regional strategies, main functional area strategies and new urbanisation strategies, optimising the layout of major productive forces and building a regional economic layout and territorial spatial system with complementary advantages and high-quality development.
3. Promote people's well-being and improve their quality of life
Improve the basic public service system, raise the level of public services, enhance balance and accessibility, and solidly promote common prosperity. Improve the distribution system; implement the employment priority strategy; improve the social security system; and promote the construction of a healthier China.
II. Income distribution
1. Improving the distribution system
Adhere to the principle of distribution according to labour and the co-existence of various forms of distribution, and build a coordinated and complementary system of primary distribution, redistribution and third distribution. Strive to increase the proportion of residents' income in the distribution of national income and the proportion of labour remuneration in the initial distribution. We will insist on rewarding multiple incomes for multiple work, encourage diligence and wealth, promote fair opportunities, increase the income of low-income earners and expand the middle-income group. Improve the policy system of factor-based distribution, explore multiple channels to increase the factor income of the middle and lower income masses, and increase the property income of urban and rural residents through multiple channels. Increase the regulation of taxation, social security and transfer payments. Improve the personal income tax system, regulate the order of income distribution, standardise the wealth accumulation mechanism, protect legitimate income, regulate excessive income and outlaw illegal income. Guide and support enterprises, social organisations and individuals with the will and ability to participate actively in public welfare and charitable causes.
2.Public services
Implement the employment priority strategy. Strengthen the employment priority policy, improve the employment promotion mechanism, and promote high-quality and full employment. Improve the employment public service system, improve the employment support system for key groups, and strengthen the employment assistance for difficult groups. Improve the protection system for promoting entrepreneurship-led employment, and support and regulate the development of new employment forms. Improve the system for safeguarding workers' rights and interests, and strengthen the protection of the rights and interests of workers in flexible employment and new forms of employment.
Accelerate the quality and balanced development of compulsory education and urban-rural integration, optimise the allocation of regional education resources, strengthen the inclusive development of pre-school education and special education, adhere to the diversified development of senior secondary schools, and improve the financial assistance system covering all school levels.
Improve a multi-layered social security system that covers all people, integrates urban and rural areas, is fair and uniform, safe and standardized, and sustainable. Improve the national coordination system for basic pension insurance and develop a multi-level and multi-pillar pension insurance system. Implement a gradual delay in the statutory retirement age. Expand social insurance coverage, improve the mechanism for financing and adjusting treatment for basic pensions and basic medical insurance, and promote provincial-level coordination of basic medical insurance, unemployment insurance and work injury insurance.