Exploring Wealth Accumulation Mechanisms in Chinese-Style Financial Modernization:A Study of Fairness in Opportunity,Process,and Outcome
The modernization of Chinese finance,rooted in dialectical materialism,serves as a pivotal instrument in harmonizing economic development and wealth accumulation.By delineating the mechanism of wealth regulation through the modernization of Chinese finance,this study assesses the heterogeneous income structure of urban and rural residents,the level of basic public service equalization,industry compensation differentials,and the proportion of labor factor compensation from 2015 to 2021.The findings reveal overall improvements in the fairness indicators of China's wealth accumulation mechanism,yet persisting challen-ges such as urban-rural and regional disparities,as well as discrepancies between state-owned and non-state-owned sec-tors.Suggestions are made to enhance the equalization of basic public services to maximize fairness in the wealth accumulation process.Additionally,timely implementation of measures such as levying monopolistic profit taxes can aid in addressing market inefficiencies like information asymmetry and monopolies,thereby regulating the fairness of wealth accumulation.Attention should be focused more on bridging the wealth gap during the accumulation process rather than solely on the end result.Efforts to bridge the wealth gap for low-income groups must strike a balance between fairness and efficiency,addressing issues of excessive wealth accumulation.These proposals offer a theoretical and practical foundation for realizing the objective of common prosperity and advancing the Chinese path to modernization.
Fiscal PolicyChinese ModernizationWealth Accumulation MechanismCommon ProsperityIncome Distribution Order