‘Common Prosperity’: Focus on improved worker benefits and social welfare​

Common prosperity will guide the Chinese government’s policies towards a more equal society. China is expected to issue substantial policies improving workers’ benefits and providing more comprehensive social welfare while strengthening prosecution of illegal incomes of the wealthy. In 2022, the negative short-term effects for businesses caused by higher labor costs might dominate, but a growing middle-class with high purchasing power can create a new customer base in the long term. ​