Abstract: The common values of mankind have provided important value guidance for the world to move from change to transformation. The inherent requirement of Marxism to realize the lofty value ideal of the free and all-round development of human beings, the inheritance and innovation of the core value concepts contained in the fine traditional Chinese culture, and proper meaning of building the value consensus of mankind and actively coping with the momentous changes unseen in a century, constitute respectively the theoretical, cultural, and realistic basis of the common values of mankind proposed in the report to the 20th National Congress of the Communist Party of China. “Common” is the prominent feature of the common values of mankind: peace and development are the common cause of mankind and the value consensus of reshaping the concept of global development, fairness and justice are the common ideal of mankind and the value guideline for building a global governance system, and democracy and freedom are the common pursuit of mankind and the value goal of building a modern political civilization. On new journey in the new era, it is necessary to adhere to and carry forward the common values of mankind in the practice of comprehensively advancing major-country diplomacy with Chinese characteristics, deepening and substantiating the construction of a community with a shared future for mankind, and promoting the high-quality development under the Belt and Road Initiative.