China economists say common prosperity not about ‘robbing rich’

Li Daokui, a former adviser to China’s central bank, Tuesday emphasized the campaign to help more people enjoy economic well-being was a long-term goal.

BEIJING: Chinese economists have moved to ease fears that China’s drive for "common prosperity” signals aggressive policies afoot, that will seize money from the rich to close the country’s yawning wealth gap.

"Robbing the rich to give to the poor” would only result in "common poverty,” said Zhang Jun, dean of the School of Economics at Fudan University in Shanghai, in an interview with The Paper on Tuesday. "The prerequisite of common prosperity is that the pie must continue to get bigger,” he added.