China's development path a success

In his keynote address to a high-level meeting on July 26, Xi Jinping, general secretary of the Central Committee of the Communist Party of China, said socialism with Chinese characteristics has entered a new development stage after the 18th National Congress of the CPC.

This major conclusion is based on the history of the People's Republic of China. The first stage of the PRC started with its founding in 1949, when China achieved political and economic independence. The second stage began when the reform and opening-up policy was implemented in 1978, which led to China's unprecedented economic growth and the development of market economy under socialism.

After the 18th Party Congress in 2012, the Party leadership with Xi as the core started the third stage of China's development.