China will formulate an action plan for promoting common prosperity as part of the government's larger drive to improve well-being and achieve its second centenary goal of fully building a modern socialist country, according to the country's top economic regulator.

  Chang Tiewei, deputy director of the Department of Employment, Income Distribution and Consumption at the National Development and Reform Commission, said the commission will deepen studies on common prosperity and formulate an action plan to promote it.

  He told a news conference in Beijing the NDRC will accelerate its push for building a foundational system with arrangements for coordinating and supporting primary, secondary, and tertiary distribution of wealth.

  More efforts will also be made to increase the income of urban and rural residents through multiple channels, Chang added.

  Source: China Daily