In June, China issued a guideline on building Zhejiang into a demonstration zone for achieving common prosperity. Under the guideline, the province will strive to achieve the goal by 2035, by which time its per capita GDP and the incomes of urban and rural residents should have reached the standards of developed countries.

Last year, Zhejiang's per capita GDP was 113,000 yuan, and the incomes of its urban and rural residents were the highest seen in all provincial level areas across the country for 21 years and 37 years, respectively.

Zhejiang was selected as a pilot zone because it is a comparatively wealthy province and the urban-rural gap is small, according to Ha Zengyou, director of the department of employment, income distribution and consumption at the National Development and Reform Commission.

The province has formulated a practical, detailed plan to implement the guideline.

Under the plan, by 2025, 80 percent of households will have annual disposable income of between 100,000 yuan and 500,000 yuan. Meanwhile, 45 percent of households in the province will have annual disposable income of between 200,000 yuan and 600,000 yuan.

"The problem of unbalanced and inadequate development is still pronounced, and promoting common prosperity for all people is a long-term, arduous historic task," Ha said, adding that he believes Zhejiang can provide a successful example for the whole country to promote common prosperity.