China to promote entrepreneurship for common prosperity: vice premier

DAVOS, Switzerland, Jan. 17 (Xinhua) -- Entrepreneurship is a key factor for wealth creation of a society, and therefore, entrepreneurs, both Chinese and foreign, will play an important role as the engine driving China's historical pursuit of common prosperity, Chinese Vice Premier Liu He said here Tuesday.

If wealth doesn't grow, common prosperity will become a river without source or a tree without roots, Liu said at the World Economic Forum Annual Meeting 2023.

Common prosperity is aimed at preventing polarization, Liu said, adding that it can only be attained through common development and the hard work of every Chinese.

Common prosperity is by no means a synonym of egalitarianism or welfarism, Liu said.

As China grows, all Chinese people will be better off, but that doesn't mean their incomes and level of prosperity have to be the same, he said, adding that there will be equal opportunities, but no guarantee of equal outcomes.