CPC: Socialism with Chinese characteristics
THE 20th National Congress of the Communist Party of China (CPC) will be held very soon in China. Hopefully, the CPC Central Committee, under the supervision of Chinese president Xi Jinping will fully review the country’s major socio-economic achievements and its constant structural reforms. Moreover, it will also announce integrated policies, programs and projects to meet China’s new strategic development goals in the new era and elect China’s new central leadership.
It seems that the 20th National Congress of the CPC will be a milestone in the modern national history of China which will play an important role in the social modernization and economic sustainability of the country to achieve the rejuvenation of the Chinese nation, and the building of a community with a shared future for mankind. Definitely, the upcoming 20th National Congress of the CPC will be a great success in building socialism with Chinese characteristics. Unfortunately, the world is entangled with unilateralism-induced crises that have threatened global peace, socio-economic prosperity and even sovereignty of the developing countries.
On the other hand, China continues to be a socio-economic stimulator, a magnetic force of an equitable and prosperous world injecting a stable, developmental and cooperative momentum. Over the last decade, China, under the strong leadership of the Communist Party of China (CPC), and XI has achieved great success in all sectors of economy, politics, civility, foreign policy and last but not least, social development. It is crystal clear that during the last 10 years, China has achieved great success in promoting social economic development, eliminating absolute poverty, and conducting active cooperation with the rest of the world in combating the COVID-19 pandemic.
It is a matter of great pride and satisfaction that China accounted for over 30 percent of the global economy in 2022, remaining the world’s second-largest economy, injecting important impetus into global recovery against the backdrop of the pandemic, is really commendable. Furthermore, Chinese victory against poverty by lifting nearly 100 million rural residents out of poverty and completing the building of a moderately prosperous society in all respects, which contributed to the world poverty reduction and eradication agenda has become a global icon of immense and integrated social development under the CPC and of course Xi.
In this regard, since the 18th National Congress of the CPC which was held in 2012, the CPC has made major breakthroughs in advancing China’s governance, systems and practices. Now it has become a model of global good & corporate governance which are the backbones of its economic stability and financial integrity in the country. Obviously, these remarkable achievements have fully demonstrated the immense comparative advantages of socialism in the world which has further enhanced China’s international recognition. During all these long years, the policy makers of China and the CPC strived hard to build a community with a shared future for mankind. Now, by sharing its vision and wisdom of conflict resolution, the CPC has set a stellar example for and offers enlightening experience to the global community in its long-term endeavours to human progress.
It is true that the Chinese President Xi’s book entitled “The Governance of China” plays an important part in the introduction of the theoretical innovation of the CPC and the practices of unleashing the hard-working spirit of the Chinese people. It also facilitates the global community with a unique look into China and builds a better understanding of its vision for the future. It seems that China’s pledge to further open up is beyond question. China has pursued an open, interactive, productive, and participatory development strategy, and openness has become a Chinese trademark of socialism. China’s reform and opening-up over the past 40-odd years has now become an epic journey for the Chinese people, the region, and the world alike.
China has grown by embracing the rest of the world, and the rest of the world has benefited from China’s opening up. Moreover, most recently, the Chinese president Xi introduced The Global Development Initiative, Global Security Initiative, Shared Prosperity, Global community development and South-South Dialogue along with initiation of BRI & CPEC all clearly indicate CPC and China’s positive, productive and participatory plans for the world countries and communities alike. In this connection, during the last 40 years, China’s GDP increased to 12 trillion US dollars from 175 billion, with an average annual economic growth of 9.5 percent and the size of China’s economy increased by 35 times. Moreover, China’s GDP per capita reached 8640 US dollars from 156 US dollars. The percentage of the China’ GDP in the world economy has increased from 1.8 percent to 15 percent.
Even Chinese urban per capita income and rural per capita net income tremendously increased by over 100 times. Primary medical insurance and old-age insurance covered 1.35 billion and 900 million of population respectively in 2017-2018 which clearly shows immense social development in China. Free compulsory education has been implemented in urban and rural areas. The gross enrollment ratio of secondary and higher education has reached 88.3 percent and 45.7 percent respectively. Despite western propaganda, China has been a major stimulator and driving force for the world economy. With rapid economic growth, China has contributed over 30 percent of global growth in recent years and made a significant contribution to mitigating the influence of Asian financial crisis and the global financial crisis.
Interestingly, China is now the largest trading partner of more than 120 countries. China’s imports have increased 170-fold, reaching 1.85 trillion US dollars last year, supporting tens of millions of jobs worldwide. Chinese companies have actively invested abroad, which set up 372,000 businesses in 190 countries and different regions, with a total investment of 1.36 trillion US dollars. According to Chinese official data from 2013 to 2017, trade between China and countries along the BRI exceeded 5 trillion US dollars. Chinese investment in these countries topped 70 billion US dollars. Chinese companies have paid 2.2 billion US dollars in tax and fees to host countries, and created 240,000 local jobs.
As the largest developing country in attracting foreign investment, China has continuously provided economic dividends to foreign enterprises, which highly promoted the development and growth of foreign enterprises in China. Now China is focusing on a smarter and knowledge based economy with high-quality development is picking up and has played a great role in the Chinese GDP. That is why, in the next 15 years, China is expected to import 24 trillion US dollars in goods, attract 2 trillion US dollars overseas direct investment and invest 2 trillion US dollars overseas. Thus China will bring greater opportunities to every country in the world while deepening its reform and opening up.
It suggests that the policy makers of China and political gurus of the CPC should prepare and follow comprehensive and holistic policies to achieve a win-win strategy of opening-up, adopt high-quality policies to advance trade and investment liberalization and facilitation, and move toward nationwide opening-up that coordinates the coastal and inland areas and connects the eastern and western regions to the outer world.