Party soon to target property and healthcare costs

A WeChat post by a prominent blogger voicing support for Xi Jinping’s “common prosperity” campaign has been widely re-published by state media, giving it a rare seal of Party approval. The post argues that the recent regulatory crackdown is just the start of a “profound revolution” prioritising workers over capitalists. If the author is to be believed, the next areas to be addressed will be high housing and medical costs. Education, housing and healthcare are often referred to as the “three mountains” that Chinese households must climb to achieve a comfortable life but the costs of each have soared. The government has pledged before to keep prices in check, but its efforts now appear set to intensify. Public housing and healthcare is likely to be expanded while private medical providers and real estate developers could soon face greater constraints on their ability to set prices and pursue profits.
Julian Evans-Pritchard Senior China Economist
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