Opinion | China’s path to modernisation will support global stability

‘Chinese modernisation’, a key phrase in Xi Jinping’s recent congress report, holds a promise for the world. A China that stays committed to high-quality development will give a much-needed shot in the arm to the global economy

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Xi Jinping delivers a report to the 20th National Congress of the Communist Party of China on behalf of the 19th Central Committee at the Great Hall of the People in Beijing on October 16. Photo: Xinhua

Published: 4:30pm, 1 Nov 2022

From October 16 to 22, the 20th National Congress of the Communist Party of China was successfully held in Beijing. I had the honour of attending the congress and was deeply encouraged and inspired by the report delivered by General Secretary Xi Jinping on behalf of the party’s 19th Central Committee.

The twice-a-decade event reviewed China’s achievements and experience over the past decade and provided a blueprint for transforming China into a modern socialist country and rejuvenating the nation on all fronts.

In particular, “Chinese modernisation”, a key phrase in the report, promises stability in an uncertain world.

First, Chinese modernisation brings opportunities of global growth. The congress report stated that the primary task in building a modern socialist country is pursuit of high-quality development.

Over the past decade, under the leadership of the party, China has eliminated absolute poverty and achieved the goal of building a moderately prosperous society. China’s per capita gross domestic product has crossed the US$10,000 mark and it contributes up to 38.6 per cent on average to global growth, higher than the G7 countries combined.

As China implements a new development philosophy, more emphasis will be placed on common prosperity and coordinated regional development. Our high-quality growth model means that China will no longer pursue lofty numerical targets. Rather, we will work to achieve both a quality upgrade and an appropriate growth pace.