Dividends of more than 10 billion yuan ($1.57 billion) from rural collective economic organizations were distributed to Zhejiang's rural residents over the last year, according to data recently released by the Provincial Department of Agriculture.

In 2021, the total revenue of Zhejiang's village-level collective economy reached 70.7 billion yuan, increasing by 16 percent year-on-year. More than 1,000 enterprises have been established in Zhejiang to help boost the rural economy, with an average annual profit of over two million yuan for each.

Rural residents have reaped great benefits from the expansion of Zhejiang's rural collective economy. The per capita disposable income of its rural residents has ranked the first among all the provinces, municipalities and autonomous regions in China for 37 consecutive years.

Statistics show that 98.8 percent of Zhejiang's villages receive an annual revenue of more than 200,000 yuan and an annual operating revenue of more than 100,000 yuan. In 2021, some 4,600 villages paid dividends to their residents, more than doubled the figure over the previous year.

In 2021, Zhejiang was designated as a demonstration zone for common prosperity, and it aims to generally realize the goal by 2035, when the per capita GDP and the income of urban and rural residents in the province are expected to be on a par with those of developed economies.