Common Prosperity and Fintech Modernization: Pathways to Inclusive Innovation in the Global South

Common Prosperity (CP) has re‑emerged as a central governance framework for equitable modernization and inclusive innovation in China’s new development era. Rooted in the socialist ideal of shared prosperity, CP has evolved into a dynamic system integrating redistribution, productivity, and disciplined innovation. Under Xi Jinping’s leadership, CP embeds equity into modernization by emphasizing digital inclusion, financial stability, and sustainability. This study traces CP’s historical trajectory from Maoist collectivism through Deng Xiaoping’s reform pragmatism to Xi’s innovation equity paradigm. It analyzes income distribution, SME empowerment, fintech regulation, ESG alignment, pension reform, and multipolar cooperation as instruments of inclusive modernization. The article highlights digital infrastructure as the backbone of financial transformation, positioning fintech as a catalyst for equitable growth and social resilience. Ultimately, CP is conceptualized as a multipolar, AI‑enabled civilizational paradigm that integrates equity, sustainability, and sovereignty. It offers pathways toward inclusive globalization and functions as a form of soft power advancing a people‑centered digital order across the Global South.