China sets course for modern future amid high hopes
Posted On July 22, 2021
BEIJING, July 22 (Xinhua) – China has achieved its first centennial goal of building a moderately prosperous society, or Xiaokang, in all respects. The country is moving forward towards modernization amid the expectations of home and abroad.
Last year, China’s GDP exceeded 100,000 billion yuan (about 15.4 trillion dollars) and its disposable income per capita reached 32,189 yuan. The country has met the goal of doubling its 2010 GDP and disposable income per capita by 2020 as planned.
“Considering the situation in China 40 years ago, this is a remarkable achievement,” said Martin Raiser, World Bank country director for China.
The World Bank uses per capita income as a synthetic measure of a country’s overall level of development. Using this criterion, China is now an upper middle-income country, and will soon be a high-income country, he said.
The world’s largest developing country has succeeded in eradicating extreme poverty altogether, lifting more than 770 million people out of poverty since its reform and opening up in the late 1970s, representing more than 70% of the total global.
“China’s development progress to date and its focused approach to poverty reduction, which adapts to local conditions, has already offered valuable lessons for the global fight against poverty,” said Beate. Trankmann, Resident Representative of the United Nations Development Program in China.
Trankmann also noted that Xiaokang and the United Nations Sustainable Development Goals (SDGs) on poverty eradication both stress the importance of ending poverty rather than just reducing it. “From this point of view, realizing the Xiaokang company has an important meaning,” she said.
XIAOKANG AGAINST REACH
Along with the country’s development, Xiaokang’s connotation extends beyond economic growth to multiple aspects, such as livelihoods, culture, education, social security and environmental protection.
“By expanding Xiaokang’s vision to cover the three dimensions of development, namely economic, social and environmental, China’s development agenda in the 21st century strongly aligns with today’s SDGs,” said Trankmann .
Education, health care, social security and environmental quality are all important parts of a country’s well-being, Raiser said. He pointed out that “China has dramatically improved the access as well as the quality of health and education services and expanded social security coverage.”
Regarding China’s future development, Raiser believes that equal opportunities and access to services, as well as improving environmental protection and reducing pollution, should play a more important role. important.
“Going forward, China’s continued commitment to inclusive development that leaves no one behind will be essential to strengthen and expand the progress made, while contributing to global efforts to achieve the SDGs,” said Trankmann.
Demand for the elderly is high on the modernization agenda, as China’s elderly population continues to increase.
“Faced with the aging of the population, China should fully mobilize the enthusiasm of seniors to live and learn, and promote sustainable social development with the help of their experience and their desire to participate in social development,” according to the international financial expert Ding Yu.
“Continued investment in older people and health care, as well as continued reform of the pension system, is essential to ensure that every older person is covered,” said Trankmann.
A MORE OPEN AND GREEN FUTURE
In the eyes of many Chinese observers, continued openness is an important feature of China’s modernization.
In its development plan for the next five to 15 years, China pledged to open up more to the outside world, promote liberalization and facilitation of trade and investment, and gradually expand institutional openness in areas such as rules, regulations and standards.
“China can play an important role in supporting global growth and development, including further opening its domestic market,” said Raiser.
Paolo Bazzoni, president of the China-Italy Chamber of Commerce, said the Chinese market is probably “the number one market in the world.” “You cannot be a world leader without having a presence in China,” he noted.
Thanks to the growing demand for quality products among Chinese consumers, especially the younger generation, Italian companies have gained more business opportunities and are thriving in China, Bazzoni said.
Sino-Italian trade is in good shape, Bazzoni said, expecting the trend to continue.
Low labor costs were one of China’s strengths in international trade, said Bai Ming, a researcher at a research institute affiliated with China’s Ministry of Commerce.
In the post-pandemic era, the country is expected to foster new advantages in terms of quality, service, technology, brand and standard in international trade, he said.
In its 14th Five-Year Plan, China did not set an explicit economic growth target and replaced it with a target of keeping its economy “within an appropriate range.”
Trankmann said it was a “promising” change. “This indicates that China is shifting from years of rapid quantitative growth to better and more sustainable growth, leaving more room to pursue environmental goals,” she noted.
In an effort to pursue high-quality, green growth, the world’s second-largest economy has announced that it will strive to peak carbon dioxide emissions by 2030 and achieve carbon neutrality by here 2060.
Trankmann expected China to play an important role in defining the “new normal” of the post-COVID-19 world as low-carbon and environmentally friendly.
“In particular, China’s commitment to make green investments will impact our ability to put the world on a low-carbon trajectory, which could have huge benefits for people as well as the planet.” , said Trankmann.