Abstract:

Common prosperity has always been a key focus of the Central Committee of the Communist Party of China. This paper uses panel data from the China Family Panel Studies (CFPS) from 2012 to 2020 to analyze the impact of household asset structure on income and income inequality. The study finds that various household assets have a significant positive effect on both labor and property income, with real estate significantly boosting future property income, while financial assets show no significant effect. Additionally, the impact of asset structure on property income varies significantly across regions and households with different endowments. Based on these findings, the paper suggests that stabilizing the real estate market, enriching long–term financial asset allocation options, encouraging wealth management institutions to expand into long–tail markets, providing financial support for households in shrinking counties to purchase homes in high– density areas, and accelerating the high-quality development of REIT's will help comprehensively increase property income and promote the realization of common prosperity. 

Key words:

common prosperity, property income, household asset structure, income disparity