Private Enterprises’ Transformation to Social Enterprises Helps Progress towards Common Prosperity

Beijing Dacheng Enterprise Research Institute and Social Sciences Academic Press jointly published the book Progress Towards Common Prosperity: Study on Transformation from Private Enterprises to Social Enterprises on April 27.

The book points out that at present, private enterprises are transforming into social enterprises. This is a natural result of the development of China's large private enterprises under the socialist market economy. It is of great significance in terms of economy, society, politics and culture. The transformation of private enterprises into social enterprises is helpful to advancing common prosperity in the following five aspects: first, it will facilitate private enterprises to become bigger and stronger; second, it will help develop mixed economy and optimize the pattern of ownership; third, it will improve the distribution of social income and narrow the gap between the rich and the poor; fourth, it will facilitate private enterprises to undertake social responsibility and advance common prosperity; fifth, it will help to promote charitable donations from enterprises and develop social and public welfare undertakings.