By Yu Lu & Liang Xiaomin, China Center for International Knowledge on Development

Research Report, No.339, 2021 (Total 6404) 2021-11-16

Abstract: The social security system has played an important role in the historical process of building a moderately prosperous society in all respects. The social assistance system provides vulnerable groups with subsistence allowances, the social insurance system reduces the risk of sinking back into poverty, and the social welfare program further enhances people’s sense of security and happiness. On the path towards common prosperity for all, the social security system is endowed with new functions and positioning in keeping with the times. At present, the role of some policy arrangements is not brought into full play. As a result, some weak points have loomed up in supporting high-quality economic development, consolidating and cultivating middle-income groups, adjusting the income distribution gap and ensuring the service for vulnerable groups. We need to take the establishment of a multi-level social security system as the goal, make efforts to consolidate the material foundation of the system, strive to expand the coverage of the system, effectively enhance the redistribution function of the system and give full play to the system’s role of providing services for those in need, so as to make sure both quantity and quality targets are met and see that  

low-income groups’ living standard will not be reduced while expanding middle-income earners. By so doing we could provide solid and effective support for realizing common prosperity.

Keywords: social security, common prosperity, income distribution, middle-income group