Editor's note: Long Haibo is a senior research fellow at the Development Research Center of the State Council and the director of Division of Research Organization at the Center for International Knowledge on Development. The article reflects the author's opinions and not necessarily those of CGTN.

Digital transformation has become the inevitable trend of our age. Countries all over the world are seizing the initiative of digitalization for economic development. The new momentum generated by technological innovation and digital transformation will speed up profound changes of productivity and production relations and redefine the relationship between government, society, enterprises and individuals. As a new factor of production, data is integrated into value production, distribution, exchange and consumption. The multiplier effect of data-driven productive factors is significant for promoting high-quality development and common prosperity.

Digital-driven common-prosperity is to quickly enable the cake to grow bigger in an appropriate way and divide it fairly and efficiently.

It should be noted that high-quality development is an important prerequisite to achieving common prosperity. It bridges the gap between regional, urban and rural development and income distribution and also addresses horizontal inequality and vertical social mobility problems. Under the triple pressure of demand contraction, supply shock and lessening expectations, the foundation for common prosperity is not yet solid enough. Therefore, we must utilize the resources we have and try our best to promote common prosperity through high-quality development.

The development dividend could be shared widely if we achieve high-quality development to "make the cake bigger."

Digitalization helps drive high-quality development. Digital technology/capability enables enterprises to achieve business-model innovation and industrial-ecology reconstruction. For instance, we can accelerate the digital transformation of the traditional manufacturing and agriculture industries, foster the development of the digital economy and further consolidate the industrial foundation for common prosperity. We can actively cultivate the data factor market, comprehensively enhance the value of data factoring, and make Big Data a new driver of high-quality economic development. We can promote the sustainable and healthy development of the platform-economy, effectively narrow the digital divide between different regions and groups, and better support high-quality development and a high-quality life.

On the basis of high quality development, a fair and efficient "dividing the cake" system is the essence of common prosperity.

Common prosperity is the fundamental principle of socialism with Chinese characteristics. It means that all people, through hard work and mutual assistance, are able to enjoy prosperity, self-confidence, self-improvement, a livable environment, and a harmonious society with universal and inclusive public services, all of which are conducive to realizing the all-round development of humanity and all-round progress of society. The fruits of reform and development will be shared to contribute to a good life.

Therefore, policy tools are not only about income distribution, but also about one's own spiritual wealth and other public welfare improvements. Digitalization plays a role in accelerating the sharing of public services, promoting ecological green transformation and improving social governance.

For instance, the county medical service community is a new development to help solve the problems of grass-roots medical care. Relying on the intelligent service platform of the Education Service Community, digitalization energizes education resource matching, quality assessment and rural and urban teacher exchanges. We can also build a digital-led mechanism to realize the value of ecological products, achieve synergy in digital and green development, and further improve the brand image for cities and quality of life for people.

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