Chinese President Xi Jinping led a meeting Tuesday that emphasized the concept of 'common prosperity“ and preventing major financial risks, state media said.
Leaders also specified common prosperity does not mean prosperity for just a few and is not a form of equal distribution, state media said. Rather, progress toward the goal would occur in stages, the report said.
Yue Su, principal economist at The Economist Intelligence Unit, said in a statement she expects authorities to be pragmatic in implementation. She added that privatization will likely slow in public services such as education, care for the elderly or medical care, with authorities at the very least becoming more strict in monitoring prices and affordability.
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