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Common prosperity is both"common prosperity for all the people"and"prosperity for both the material and spiritual lives of the people". Based on the 2015 Chinese General Social Survey Data, this paper systematically investigates the effects of opportunity equity and outcome equity on happiness using propensity score matching and the causal forest algorithm. The results show that both opportunity equity and outcome equity have a positive effect on happiness; female identity and university education can strengthen the happiness-enhancing effect of opportunity equity, and urban household registration can strengthen the happiness-enhancing effect of outcome equity; the happiness-enhancing effect of outcome equity is most obvious among the group with immediate housing needs, and there is a significant shift around the age of thirty. Therefore, it is suggested that to achieve common prosperity, we should accelerate the construction of opportunity equity mechanism and steadily promote the development of outcome equity. [ABSTRACT FROM AUTHOR]