MNI BRIEF: China Outlines Common Prosperity With A Green Focus

China should prioritize a high-quality and balanced economy that tackles income equality for a "common prosperity" that includes green growth, a top official told reporters on Friday at a briefing on the outcome of a four-day Central Committee of the Communist Party of China.

China's policy makers will aim for a more balanced, coordinated and inclusive development path, said Han Wenxiu, executive vice minister of the Office of the Central Financial and Economic Affairs Commission, noting the country will work on increasing the middle-income group and narrowing the gap between cities and countryside.

Stability must be ensured amid pushing decarbonization and common prosperity, he said.

"The economic volatility is a short-term phenomenon, but common prosperity is a long-term target… China has healthy economic fundamentals and enormous domestic demand and development space," Han said. China will further improve the taxation system and social security mechanism to promote an equal distribution, and the public charity will see a significant growth, but any move must respect the willingness of entrepreneurs, he said.