Home / Business / Macro

China's modernization plan to bring global dividends

Xinhua | Updated: 2017-10-27 10:55

BEIJING — China's modernization plan will bring benefits to overseas markets, contribute to global economic growth, and boost its international role, overseas observers have said.

In his report delivered last week at the opening session of the 19th National Congress of the Communist Party of China (CPC), Chinese President Xi Jinping envisioned China developing into a nation with "socialist modernization basically realized" by 2035, and "a great modern socialist country" by the middle of the century.

The two-stage plan "is ambitious but achievable," Sourabh Gupta, a senior policy analyst at the Institute for China-America Studies, a Washington-based independent think tank, told Xinhua via email.

As China eyes significant easing of market access and further opening-up of the services sector, "it's a win for Africa," said David Mutua, a scholar at the Kenya Institute for Public Policy Research and Analysis.

"I think it's time for Africans to take advantage of this window and engage the Chinese counterparts in a more active way," Mutua said.

Alexey Maslov, a professor with the Oriental Studies Department at the Russian Higher School of Economics Research University, told Xinhua that Xi's report signals that economic reforms will continue, which is very important.

For Balkan countries, including Macedonia, the plans of the Chinese leadership at the 19th CPC National Congress also hold great significance, as the region has already benefited from Chinese initiatives such as the Belt and Road Initiative, said Anastas Vangeli, a researcher at the Polish Academy of Sciences.

Xi's report also highlighted the CPC's focus on the Chinese people, said Chandana Thilakarathna, CEO of the Independent Television Network in Sri Lanka. "Such a focus has been imbedded in every CPC organization in China, which is very exemplary."

Some also noted the CPC's intention to lead China to play a bigger role in international affairs.

"China is taking bold steps in entrenching and improving its system of governance, which has worked well for its people," said Ken Ogembo, a lecturer of economics at the Kenyatta University.

With great strength comes great responsibility, and Xi has already displayed that responsibility, said Gupta, the US scholar.

Most Viewed in 24 Hours
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349