From the Perspective of Common Prosperity: A Probe Into the Fiscal Reform of Chinese Path to Modernization

Abstract

Common prosperity is an essential requirement of socialism with Chinese characteristics and a long-term historical process. As an important part of the public policy system, scientific financial and tax policies are indispensable tools for regulating income distribution and promoting common prosperity, and will play a more important role in the new historical period. Currently, China is facing a series of practical problems such as economic restructuring, uneven income distribution, and uneven regional development. To this end, it is necessary to continue active fiscal policies, promote high-quality economic development, optimize tax system structure to promote fair income distribution. At the same time, it is necessary to deepen the social security system, expand coverage, and ensure that every citizen can receive the necessary protection in critical moments such as illness and unemployment. In addition, based on the current issue of imbalanced regional development, it is also urgent to strengthen the division of financial powers between governments, improve the fiscal transfer payment system, to ensure that resources are tilted towards impoverished areas and truly achieve the goal of common prosperity. Through in-depth analysis of practical issues, this article will comprehensively explore the reform path of modern financial and tax systems, laying a solid foundation for common prosperity.