Haiying village in Donggang city, Northeast China's Liaoning province, is developing a collective economy in an effort to bring Xiaokang, or moderate prosperity, to all its villagers.

"I think my life now is better than Xiaokang," said Dai Ying, a 70-year-old villager in Haiying village.

She said that by developing a collective economy, all villagers are leading a better life. On every holiday, they are offered gifts. In addition, subsidies are offered to senior citizens and others in need.

Using its coastal advantage, Haiying village is mainly engaged in cultivating jellyfish, small clams, Chinese prawns and other aquatic products.

According to Lyu Jiefei, secretary of Haiying village, in 2018, the collective income of the village was 33 million yuan ($4.7 million). There were over 800 villagers and more than 280 families. Every year, part of the village's collective income is sent to villagers as welfare payments. In 2018 and 2019, welfare money offered to each villager was 15,000 yuan.