China to create more opportunities for world economic recovery

Chinese President Xi Jinping recently called for ensuring a good start for fully building a modern socialist country, sending a positive signal to revitalize the confidence of the world,

Xi, also general secretary of the Communist Party of China (CPC) Central Committee, made the remarks when addressing the opening of a study session at the Party School of the CPC Central Committee attended by provincial and ministerial-level officials.

What Xi said showed the world China’s grand vision of embarking on a new journey to fully build a modern socialist country.

It is generally believed by the international community that as China further implements its new vision of innovative, coordinated, green, open and inclusive development, the country will surely make steady progress in building a new development paradigm and usher in broader prospects for win-win cooperation with the rest of the world.

The global economy is still in a complicated and severe situation, whose recovery is unstable and unbalanced.

As the COVID-19 pandemic keeps spreading across the world, the global economy will still be gloomy in the first half of 2021, and is expected to expand 4 percent for the whole year, according to the latest World Bank Global Economic Prospects.

China, the only major economy that secured positive growth in 2020, can inject strong impetus to world economic recovery and development, as it embarks on a new journey to fully build a modern socialist country and promotes constant economic recovery and high-quality development.

The fifth plenary session of the 19th CPC Central Committee approved the CPC Central Committee’s proposals for formulating the 14th Five-Year Plan (2021-2025) for National Economic and Social Development and the Long-Range Objectives Through the Year 2035, which won worldwide attention.

What the world sees in the proposals are China’s resolution and confidence to keep strategic composure and concentrate efforts on its own affairs.

Against markedly increasing instability and uncertainty in the international context, the fifth plenary session of the 19th CPC Central Committee fully demonstrated the foresight of the CPC, said Lydia Samarbakhsh, a member of the executive committee with the French Communist Party.

Raquel León de la Rosa, a Mexican expert on China-related issues, believes that as a major engine for world economic growth, China will continue contributing to the recovery of global economy.

Whether a country has adopted a suitable development philosophy fundamentally determines its development, and even its fate.

The international society believes that by pushing forward the vision of innovative, coordinated, green, open and inclusive development, China has achieved higher-quality growth and strengthened its capacity for sustainable development.

It was estimated that the pandemic may drag as many as 100 million people back into extreme poverty, and the international community is worried that unbalanced economic recovery will further widen the gap between the rich and poor in some countries.

Against the backdrop, what development visions shall be adopted and how to achieve stable and balanced economic recovery is a common concern of the world.

China commits to a people-centered philosophy of development, as well as a principle of development for the people, development by the people and development achievements shared by the people.

It has continuously enhanced people’s sense of fulfillment, happiness, and security, and strived to achieve common prosperity, which is quite inspiring for the inclusive and sustainable development of the global economy.

Fostering a new development paradigm with domestic circulation as the mainstay and domestic and international circulations reinforcing each other, is a major strategic task concerning China’s overall development introduced in the proposals for formulating the 14th Five-Year Plan as well as a heated topic among the international community.

To build the new development paradigm requires establishing a high-level socialist market economy system, implementing high-level opening-up, and enhancing the interaction between reform and opening-up. It signifies the dialectical unity of achieving high-level self-reliance and high-level opening-up.

China has signed the Regional Comprehensive Economic Partnership (RCEP) with relevant countries, completed investment agreement negotiations with the European Union (EU) as scheduled, announced that it would actively consider joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and promoted high-quality construction of the Belt and Road—all examples of China’s efforts to unswervingly implement high-level opening-up and promote international cooperation and win-win results.

China has entered a new stage of development. Embarking on the new journey of fully building a modern socialist country, China will surely continue to draw strength for progressing, and make new achievements and new contributions to world economic recovery and global development.