##{"id":102089,"date":"2022-06-20T11:14:52","date_gmt":"2022-06-20T01:14:52","guid":{"rendered":"https:\/\/www.fnarena.com\/?p=102089"},"modified":"2022-06-20T11:14:54","modified_gmt":"2022-06-20T01:14:54","slug":"esg-focus-chinas-six-point-prosperity-plan","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2022\/06\/20\/esg-focus-chinas-six-point-prosperity-plan\/","title":{"rendered":"ESG Focus: China&#8217;s Six-Point Prosperity Plan"},"content":{"rendered":"<p><strong><em>FNArena&#039;s dedicated&nbsp;ESG Focus news section zooms in on matters Environmental, Social &amp; Governance (ESG) that are increasingly guiding investors preferences and decisions globally. For more news updates, past and future:<\/em>&nbsp;<\/strong><br \/><a href=\"https:\/\/www.fnarena.com\/index.php\/financial-news\/daily-financial-news\/category\/esg-focus\/\">https:\/\/www.fnarena.com\/index.php\/financial-news\/daily-financial-news\/category\/esg-focus\/<\/a><\/p>\n<p><u><strong>ESG Focus: China&rsquo;s Six-Point Prosperity Plan<\/strong><\/u><\/p>\n<p>In 2021, China published its six-point plan for achieving common prosperity, sending global markets into a tailspin, and we include it here as a reference so that our readers can see what all the fuss was about.<\/p>\n<p><strong>-This entry is a reference to a story comparing China&rsquo;s prosperity plan with the UN&rsquo;s SDGs.<br \/>-President Xi Jinping&rsquo;s six-point prosperity plan<\/strong><\/p>\n<p>By Sarah Mills<\/p>\n<p>Last year, China President Xi Jinping announced his plan to rebuild the country&rsquo;s economy on &ldquo;Common Prosperity&rdquo;.<\/p>\n<p>China&rsquo;s richest people earn roughly 10 times that of the country&rsquo;s poorest 20% &#8211; a gap substantially wider than in western economies.<\/p>\n<p>China needs to close this gap if it is to meet the United Nation&rsquo;s Sustainable Development Goals and position itself as a source of global capital.<\/p>\n<p>Recent attempts to do this have brought it into direct conflict with several internal and external interests and unnerved investors globally.<\/p>\n<p>The plan is being demonstrated in the province of Zhejiang, where 52 goals have been set across income, employment, housing, health and education.<\/p>\n<p>This article is a reference for FNArena&rsquo;s main article on the overlap between the prosperity plan and the UN SDGs and lists the main elements of the six-points here.&nbsp;<\/p>\n<p><u>President Xi Jinping&rsquo;s Six-Point Prosperity Plan<\/u><\/p>\n<p>&nbsp;(1) Increase equality, cooperation, and inclusiveness in development.<\/p>\n<p>-Accelerate the development of a socialist market economy system.<\/p>\n<p>-Enhance the equality of regional development.<\/p>\n<p>-Strengthen the coordination of development among industries.<\/p>\n<p>-Support the development of small and medium-sized enterprises.<\/p>\n<p>(2) Focus on expanding the scale of the middle-income population.<\/p>\n<p>-The support should be targeted at university graduates, technical workers, small and medium-sized business owners and sole proprietors, and migrant farmers who have moved to cities.<\/p>\n<p>(3) Promote equalization of basic public services.<\/p>\n<p>-Focus on inclusive human capital investment and establish systems for elderly care and medical security, a relief system to support the poorest, and a system for housing supply and security.<\/p>\n<p>(4) Strengthen norms and adjustments for high-income earners.<\/p>\n<p>-We will protect legitimate income in accordance with the law, reasonably regulate excessively high-income earners, improve personal income taxation, and promote real estate tax legislation and reform.<\/p>\n<p>-Encourage high-income groups and enterprises to contribute to society through public charity. Organize and standardize unreasonable incomes, set up an orderly income distribution system, and firmly crack down on illegal incomes.<\/p>\n<p>-Protect property rights and intellectual property rights, protect legitimate enrichment, and promote sound development in accordance with the norms of various types of capital.<\/p>\n<p>(5) Promote the common prosperity of people while meeting their spiritual needs.<\/p>\n<p>-Enhance direction based on socialist core values, and continuously meet the diverse spiritual and cultural needs of the masses (<a href=\"https:\/\/www.rieti.go.jp\/en\/china\/22010501.html#note3\"><span style=\"color:#9453ac\">Note 3<\/span><\/a>).<\/p>\n<p>-Strengthen public support for common prosperity and provide a favorable public opinion environment for its promotion.<\/p>\n<p>(6) Promote the common prosperity of farmers and rural communities.<\/p>\n<p>-Consolidate and expand the results of the efforts so far to lift people out of poverty.<\/p>\n<p>-Fully promote rural development, strengthen the construction of rural infrastructure and public service systems, and improve the living environment.<\/p>\n<p><strong><em>FNArena&#039;s dedicated&nbsp;ESG Focus news section zooms in on matters Environmental, Social &amp; Governance (ESG) that are increasingly guiding investors preferences and decisions globally. For more news updates, past and future:<\/em>&nbsp;<\/strong><br \/><a href=\"https:\/\/www.fnarena.com\/index.php\/financial-news\/daily-financial-news\/category\/esg-focus\/\">https:\/\/www.fnarena.com\/index.php\/financial-news\/daily-financial-news\/category\/esg-focus\/<\/a><\/p>\n<\/p>\n<p><em>Find out why FNArena subscribers like the service so much: &quot;<a href=\"http:\/\/www.fnarena.com\/index4.cfm?type=dsp_newsitem&amp;n=29EB960D-9DFF-C00E-7F6B464E5D52E250\">Your Feedback (Thank You)<\/a>&quot; &#8211; Warning this story contains unashamedly positive feedback on the service provided.<\/em><\/p>\n<p><em>FNArena&nbsp;is proud about its track record and past achievements: <a href=\"https:\/\/www.fnarena.com\/index.php\/2018\/10\/03\/rudis-view-ten-years-on-the-world-is-still-turning\/\">Ten Years On<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In 2021, China published its six-point plan for achieving common prosperity, sending global markets into a tailspin, and we include it here as a reference so that our readers can see what all the fuss was about<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[98],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/102089"}],"collection":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/comments?post=102089"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/102089\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=102089"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=102089"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=102089"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}