, and through the continuous improvement of basic public services. common prosperity is ultimately for all the people. we should always follow the people - centered development philosophy, uphold the principle that development is for the people and by the people and that its fruits are to be shared by the people, so as to realize common prosperity for all. the pathway to common prosperity is persistent endeavor. happy life comes from hard work and common prosperity depends on diligence and wisdom. it is an arduous, complicated and long - term task, so we need to do our best with patience and perseverance. common prosperity has distinctive features of the times and is of chinese characteristics. our people will work hard and help each other for the common goals of living a prosperous life, becoming self - confident and self - reliant, having a pleasant environment, securing social harmony and easy access to public services. all - round development will be achieved for the people and in the society. people will share the fruits of reform and development and the overall social progress. 2. issues of great concerns for inclusive finance in boosting common prosperity in recent years, implementing the decisions and arrangements of the cpc central committee and the state council on developing inclusive finance, the financial sector and the other sectors 1 / 4 bis central bankers'speeches of the society have put in place an inclusive financial service and security system which is appropriate for the building of a well - off society in an all - round way. in promoting common prosperity, inclusive finance needs to take its initiative. to meet the requirements of the strategic goals of and practical approaches to common prosperity, we still face many challenges in the high - quality development of inclusive finance, and thus need to make continuous improvements. first, how can inclusive finance better support the consolidation of poverty alleviation achievements and effectively prevent the return to poverty? in some areas, achievements of poverty alleviation are not solid enough ; industries and sustainable development have a weak basis ; the income of people lifted out of poverty is unstable ; and financial services are not effective, targeted or precise enough. the financial sector needs to play a bigger role in facilitating industrial development and fostering more forerunners in getting welloff. second, how can inclusive finance promote common prosperity through better integration with the rural revitalization strategy? in 2020, the national per capita disposable income of urban residents was rmb43, 834, while that of rural residents was rmb17, 131, indicating a significant gap between

flexible to address asymmetric external shocks in particular. relative cost competitiveness, including wage developments, has an important impact on our economy. thus, it's important that wage - setting procedures are flexible and avoid too long and rigid wage contracts. finally, one cannot overestimate the significance of having a resilient and sound banking sector to support monetary transmission and facilitate the funding of the real economy under all circumstances. well - functioning banking sector facilitates financial stability and support economic growth. hence, each member country should have adequate macroprudential policy tools at hand as well as be ready to adjust them also to complement single monetary policy. finally to conclude, i believe that the common monetary union - wide policy has served the finnish economy well. we have avoided excessive fluctuations stemming from currency volatility and risk premia. at the same time, our inflation rate has closely followed the euro area average inflation. however, it is true that small economies in currency unions need to pay careful attention to public indebtedness, the accumulation of financial risks, and the competitiveness of their economy. but sound policies are called for no matter what kind of a monetary policy regime you have opted for. thank you for your attention. 5 / 5 bis - central bankers'speeches