Chinese Firms Rush to Embrace Xi’s ‘Common Prosperity’ Slogan

Scores of listed Chinese companies have name-checked President Xi Jinping’s “common prosperity” drive in earnings reports, as the private sector seeks to align itself with China’s campaign to reduce wealth inequality.

At least 73 companies, including China’s largest insurer Ping An Insurance (Group) Co., food delivery giant Meituan and the state-owned Bank of China Ltd., used the flagship slogan in statements to shareholders filed to the Hong Kong, Shanghai and Shenzhen stock exchanges in the two weeks ending Aug. 31.

While that accounted for less than 2% of the more than 4,000 filings surveyed by Bloomberg ...