“…Starting from the 1990s, China has gone through a remarkable transformation, progressing from a poor and egalitarian society to an upper-middle-income country with levels of economic inequality comparable to those of the United StatesPiketty et al [2019]. Several studies find that political status and connection might play a key role in explaining existing inequalities, in both developed and developing countries [Johnson and Mitton, 2003, Khwaja and Mian, 2005, Faccio, 2006, Yang et al, 2021. In the context of China, there is growing interest among economists and other social scientists in measuring the economic returns of Chinese Communist Party (CCP) membership [Szelényi, 1987, Nee, 1989, 1991, 1996, Rona-Tas, 1994, Morduch and Sicular, 2000, Dickson and Rublee, 2000, Li et al, 2007, Appleton et al, 2009, McLaughlin, 2017, Gu and Zheng, 2018, Guo and Sun, 2019, Nikolov et al, 2020.…”