Tígāo shèhuì fúzhǐ shì jīngjì fāzhǎn de zuìzhōng mùbiāo.
Improving social welfare is the ultimate goal of economic development.
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福祉 is a formal term used in government documents, policy discourse, and academic writing. In everyday speech, 幸福 (happiness) or 福利 (welfare/benefits) are more common.