Prof. Fung Kwan’s interview on the topics of the Beijing Stock Exchange and “common prosperity”

The Teledifusão de Macau News earlier interviewed Prof. Fung Kwan, Assistant Professor of the Department of Economics and Research Fellow of Asian Economics of the Asia-Pacific Academy of Economics and Management of University of Macau, to express his views on the establishment of the Beijing Stock Exchange by the Central Government, and the promotion of national realization of “common prosperity”.

From the perspective of Prof. Fung Kwan, the decision of the Central Government on the launch of Beijing Stock Exchange could enhance the national economic development. He pointed out that the economic development of China had expanded the demand for financial services, and the establishment of the Beijing Stock Exchange would immensely magnify the role of financial services in promoting economic development.

Prof. Fung Kwan believed that the enforcement of common prosperity would take a gradual and lengthy process. During this process, it would be essential to optimize the taxation, social security, medical and retirement security systems to help the low-income groups to transform into middle- and high-income groups. He also said that achieving common prosperity was not only about taxing businesses and redistributing them to low-income groups, but also creating more prosperity opportunities for all classes of national stakeholders in the whole process. However, this would be the biggest problem and challenge to tackle in achieving the common prosperity.