Xi's article on common prosperity to be published

BEIJING -- An article by Xi Jinping, general secretary of the Communist Party of China (CPC) Central Committee, on the concrete actions to promote common prosperity will be published.

The article by Xi, also Chinese president and chairman of the Central Military Commission, will be published on Saturday in this year's 20th issue of the Qiushi Journal, a flagship magazine of the CPC Central Committee.

The country has entered a stage in which concrete steps should be taken to promote common prosperity, the article says.

Rather than being egalitarian or having only a few people prosperous, common prosperity refers to affluence shared by everyone, physically and intellectually, it says.

Attaining affluence through hard work and innovation is encouraged, the article says, adding that the country's basic economic system must be upheld and a step-by-step approach should be followed.

Common prosperity should be promoted following the people-centered development philosophy and high-quality development, the article says, stressing the balance between efficiency and fairness, as well as the construction of a set of institutional arrangements on a coordinated three-tier income distribution system.

Common prosperity will not be achieved simultaneously for all the people, it notes, adding that different regions and groups of people may enjoy different levels of prosperity and on various timelines.