The term “common prosperity” has quickly risen to prominence in Chinese domestic politics amid an intense regulatory crackdown on China’s leading tech companies. However, this new policy agenda offers no clear road map or explicit policy instructions, giving way to various interpretations which while insightful do not depict the complete picture. In this strategic update, Xin Sun argues that the fundamental purpose of common prosperity is to support a new political order that keeps significant power in the hands of Xi and his closest allies and bolsters the supreme leader’s political survival in the coming decades.
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This was published on 7 April 2022.
About the author
Dr Xin Sun is a member of the China Foresight Forum at LSE IDEAS. He is Senior Lecturer in Chinese and East Asian Business at the Lau China Institute and King’s Business School, King’s College London. He holds a PhD in political science at Northwestern University and bachelor degrees in Chemistry and Economics at Peking University. His research interests focus on government-business relations and the politics of land and property rights in China. His recent articles have appeared in Journal of Public Policy, Political Studies, Problems of Post-Communism, The China Journal and World Development. His research and interviews have been frequently featured in media such as BBC News, Economist, Financial Times, Insider, NBC News, Reuters, Quartz, and South China Morning Post.