China prioritizes people-centered economics for development, says scholar

GUANGZHOU, Dec. 4 (Xinhua) -- China prioritizes people-centered economics for development, said the Board Director of the Guangzhou Institute of the Greater Bay Area Zheng Yongnian here Sunday.

With income inequality a major concern worldwide, the Chinese government has been able to mobilize resources to achieve a basic level of social justice, he said while attending the launch ceremony of a Xinhua News Agency report titled "The Humanomics in the New Era" on the sidelines of the fifth World Media Summit hosted by Xinhua.

The scholar highlighted that China has lifted around 800 million people out of poverty in the past four decades.

He further said that a civilization which could last for many thousand years must have a different kind of economic philosophy.

"The Chinese government from the very beginning regarded economic management as an internal part of government responsibility," Zheng said.