China’s rapid industrialisation over the past two decades has generated an enormous amount of wealth in the country, however that wealth has been distributed in a highly uneven fashion – with a relatively small proportion of the population overwhelmingly benefiting from this growth. This inequality appears to be receiving greater focus from Chinese authorities, as the policy agenda moves away from poverty eradication towards Common Prosperity, however policy implementation may take a long time.

For further details, please see the China Economic Update – December 2021