Abstract: The purpose of this paper is to discuss how to implement the visionary goal of "basically realizing socialist modernization by 2035 and achieving more obvious and substantial progress in the common prosperity of all people" proposed by the 5th Plenary Session of the 19th CPC Central Committee. Based on the Marxist political economy theory, this paper focuses on the theoretical and practical issues of common prosperity, and comprehensively elaborates the profound connotation of common prosperity, the goals, the ways to achieve it, and the design of index system and assessment methods. Looking ahead to the next fifteen years, it makes a medium and long-term analysis and forecast on the economic and social goals related to the development of common prosperity from the 14th Five-Year Plan to 2035, analyzes the opportunities and challenges to achieve common prosperity, proposes to continuously narrow the three major development gaps between urban & rural areas, regions, and residents' incomes, realizes the goal of equalizing basic public services, and finally offers a strategic path to achieve common prosperity in steps and stages. The strategic path, major tasks, and key measures for achieving common prosperity in stages featured with the Chinese experience will provide the world to solve the challenges of wealth gaps for the human beings.