A recent seminar in Hangzhou, Zhejiang province, about Zheng Yongnian's latest book, The Chinese Approach to Common Prosperity, detailed endeavors related to common prosperity in the country and how it can be of value to the world.

Achieving common prosperity is an arduous and complex project that requires a long-term effort. Social science theorists need to conduct sustained research over time, said Zheng, who is a professor at Chinese University of Hong Kong, Shenzhen, and president of the Institute for International Affairs, Qianhai, in Shenzhen.

Zheng said the exploration of common prosperity in Zhejiang will be of significance for China but will also provide guidance for the world.

"Zhejiang is not just an industrial powerhouse. It also has a strong agricultural sector. Rural agricultural civilization in Zhejiang is doing very well," he said.

Common prosperity is an essential requirement of socialism and a key feature of modernization. It aims to narrow the country's wealth gap and improve the quality of life for more people after eradicating absolute poverty.

In May last year, Zhejiang was designated as a demonstration zone for common prosperity. It has set a target of generally achieving common prosperity by 2035, when the province's per capita GDP and income of its urban and rural residents are expected to be on par with developed economies.

Two universal problems have puzzled humans since ancient times — poverty and inequality, Zheng said at the Common Prosperity Summit Forum, which was held on the same day in Hangzhou.

His book was published by Zhejiang People's Publishing House.

Video provided by Zhejiang Daily

Fang Xiaoying in Hangzhou contributed to this story.