Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

Is China rich enough to claim a ‘well-off society’? One ex-official says grand economic goal can wait

Is China rich enough to claim a ‘well-off society’? One ex-official says grand economic goal can wait

He Keng questions China’s progress on milestone centenary goal set forth by President Xi Jinping. Former deputy director of the Financial and Economic Affairs Committee of the National People’s Congress says China is not ‘comprehensively well-off’ with 600 million people earning just 1,000 yuan (US$143) a month
A former state official says China should wait to declare that it has built a “comprehensively well-off society” – a milestone goal in President Xi Jinping’s “Chinese dream” of national rejuvenation – since the country still has 1.1 billion people not qualified as middle class.

Beijing had pledged to achieve the goal this year. But this week’s comments by He Keng, former deputy director of the Financial and Economic Affairs Committee of the National People’s Congress, run contrary to the Communist Party line.

And his words, now censored online in mainland China, bring to light a lack of consensus in the country about the biggest self-imposed performance goal set by the Chinese leadership – one that was to see the nation double its gross domestic product from 2010 to this year, while realising other improvements in terms of governance and the environment.

Speaking at an economic forum in Beijing on Sunday, He said an announcement this year that the country has successfully built up a “comprehensive well-off society”, generally implying that everyone feels relatively safe and affluent, would not be very convincing if most people have not felt a noticeable improvement in their quality of life or income.

“The middle-income group should be the dominant part of a comprehensive well-off society,” He said at the forum. “How can we claim that we are comprehensively well-off when 600 million people – half of the national population – earn a monthly income of just 1,000 yuan (US$143)?

“The [Tokyo] Olympic Games were postponed for a year; why can’t we postpone [the milestone goal] for one or two years? That way, the results would be more convincing.”

Given the state of the world amid the coronavirus pandemic, Japanese Prime Minister Shinzo Abe and International Olympic Committee President Thomas Bach agreed in March to postpone the 2020 Tokyo Games.

He’s comments were not reported by any Chinese media but went viral on social media before all posts about his speech were censored. The South China Morning Post saw a video recording of He speaking.

The goal of building up a “comprehensively well-off society” by this year is one of two centenary goals advanced by Xi following the 18th National Congress in 2012, in the lead-up to the Communist Party’s 100th anniversary next July. The other goal, set for the 2049 centenary of the founding of the People’s Republic of China, involves China being able to declare itself to be a powerful and harmonious socialist country.

These goals are cornerstones underpinning the ruling party’s vision for the nation, but the general goals are defined more by descriptive words than concrete numerical targets, giving Beijing the leeway to interpret and explain the abstract goals as it sees fit.

The suggestion of delaying the “well-off society” goal by He, who holds no official capacity, directly challenges the official stance that China will declare victory in its grand goal. He is currently president of the Beijing Private Economic Development Association.

In an article published last week in People’s Daily, the Communist Party’s mouthpiece, Ning Jizhe, head of the National Bureau of Statistics and a vice-chairman of China’s National Development and Reform Commission, said China had “basically accomplished” the goal.

However, many in China are questioning whether it is wise to label itself a fair and happy country when its wealth gap is among the widest in the world, and when hundreds of millions of people, including 290 million migrant workers, are bearing the brunt of the coronavirus fallout and are suffering from institutional discrimination in terms of pensions, education and health care.

The views expressed by He received support online before being censored.

He also said that the people’s share of China’s economic prosperity has been declining as the distribution of national wealth is tilted towards the state, which negatively affects consumption. He also said China has only 300 million people who can be categorised as “middle income” or above, and the vast majority of Chinese people still fall below the lowest end of middle-income group.

And He said China should deepen its economic reform.

“The key lies in whether we are willing to reform and really follow the route of [late paramount leader] Deng Xiaoping,” He added. “We must follow that route so that the economy can be improved.”
AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
Newsletter

Related Articles

0:00
0:00
Close
France Faces New Political Crisis, again, as Prime Minister Bayrou Pushed Out
Nayib Bukele Points Out Belgian Hypocrisy as Brussels Considers Sending Army into the Streets
France, at an Impasse, Heads Toward Another Government Collapse
The Country That Got Too Rich? Public Spending Dominates Norway Election
EU Proposes Phasing Out Russian Oil and Gas by End of 2027 to End Energy Dependence
More Than 150,000 Followers for a Fictional Character: The New Influencers Are AI Creations
EU Prepares for War
Trump Threatens Retaliatory Tariffs After EU Imposes €2.95 Billion Fine on Google
Tesla Board Proposes Unprecedented One-Trillion-Dollar Performance Package for Elon Musk
Gold Could Reach Nearly $5,000 if Fed Independence Is Undermined, Goldman Sachs Warns
Uruguay, Colombia and Paraguay Secure Places at 2026 World Cup
Trump Administration Advances Plans to Rebrand Pentagon as Department of War Instead of the Fake Term Department of Defense
Big Tech Executives Laud Trump at White House Dinner, Unveil Massive U.S. Investments
Tether Expands into Gold Sector with Profit-Driven Diversification
‘Looks Like a Wig’: Online Users Express Concern Over Kate Middleton
Florida’s Vaccine Revolution: DeSantis Declares War on Mandates
Trump’s New War – and the ‘Drug Tyrant’ Fearing Invasion: ‘1,200 Missiles Aimed at Us’
"The Situation Has Never Been This Bad": The Fall of PepsiCo
At the Parade in China: Laser Weapons, 'Eagle Strike,' and a Missile Capable of 'Striking Anywhere in the World'
The Fashion Designer Who Became an Italian Symbol: Giorgio Armani Has Died at 91
Putin Celebrates ‘Unprecedentedly High’ Ties with China as Gazprom Seals Power of Siberia-2 Deal
China Unveils New Weapons in Grand Military Parade as Xi Hosts Putin and Kim
Rapper Cardi B Cleared of Liability in Los Angeles Civil Assault Trial
Google Avoids Break-Up in U.S. Antitrust Case as Stocks Rise
Couple celebrates 80th wedding anniversary at assisted living facility in Lancaster
Information Warfare in the Age of AI: How Language Models Become Targets and Tools
The White House on LinkedIn Has Changed Their Profile Picture to Donald Trump
"Insulted the Prophet Muhammad": Woman Burned Alive by Angry Mob in Niger State, Nigeria
Trump Responds to Death Rumors – Announces 'Missile City'
Druzhba Pipeline Incident Sparks Geopolitical Tensions
Cost of Opposition Leader Péter Magyar's Economic Plan Revealed
Germany in Turmoil: Ukrainian Teenage Girl Pushed to Death by Illegal Iraqi Migrant
United Krack down on human rights: Graham Linehan Arrested at Heathrow Over Three X Posts, Hospitalised, Released on Bail with Posting Ban
Asian and Middle Eastern Investors Avoid US Markets
Ray Dalio Warns of US Shift to Autocracy
Eurozone Inflation Rises to 2.1% in August
Russia and China Sign New Gas Pipeline Deal
Von der Leyen's Plane Hit by Suspected Russian GPS Interference in an Incident Believed to Be Caused by Russia or by Pro-Peace or by Anti-Corruption European Activists
China's Robotics Industry Fuels Export Surge
Suntory Chairman Resigns After Police Probe
Gold Price Hits New All-Time Record
UK Fintechs Explore Buying US Banks
Greece Suspends 5% of Schools as Birth Rate Drops
Apollo to Launch $5 Billion Sports Investment Vehicle
Bolsonaro Trial Nears Close Amid US-Brazil Tension
European Banks Push for Lower Cross-Border Barriers
Poland's Offshore Wind Sector Attracts Investors
Budapest Central European Fashion Week Kicks Off
U.S. Celebrates Labor Day
Hungarian National Team Captain Scores Epic Goal
×