Fresh Prospects in the New Era




The year 2018 marks the 40th anniversary of China’s reform and opening-up policy. In the past few decades, the country has raised more than 700 million people out of poverty and has significantly improved people’s quality of life. Moreover, China has created a miracle in economic development. Nowadays, China has become the world’s second largest economy, contributing 35 percent of global economic growth.


The report delivered by General Secretary Xi Jinping at the 19th National Congress of the Communist Party of China (CPC) last October made it clear that, as socialism with Chinese characteristics has entered a new era, the principal contradiction facing Chinese society has evolved into the contradiction between unbalanced and inadequate development and the people’s ever-growing needs for a better life.


The new era is represented by higher priority on quality. The country is shifting its economic structure from reliance on exports and investments to growth through consumption, the service sector, and domestic demands. In addition, supply-side structural reform is expected to boost economic progress to a higher level by enhancing products’ quality, promoting efficiency, and tapping innovative driving forces.


Furthermore, the new era means living standards will be continuously improved on. The country’s campaign to prevent and control air pollution will be continued to ensure us to see more blue skies. Besides, food safety strengthening and further improvement of the service sector will enable people to enjoy a better life. In addition, life is becoming more convenient thanks to innovative technologies such as mobile payments, bike sharing, and artificial intelligence.


Common prosperity for everyone is a key attribute of this new era. A rural vitalization strategy is to stimulate comprehensive development of rural areas and agriculture. The Yangtze Economic Belt initiative has been implemented to promote more balanced development in the nation’s central and western regions. Furthermore, efforts have been made to meet the housing needs of all people and guarantee that people live and work in contentment. More than 30 million people still live in poverty in China, most of whom are in remote and disadvantaged areas. Other than direct financial subsidies, the government also endeavors to pass on technical know-how to the impoverished in a bid to strengthen their abilities to shake off poverty.


Last but not least, China will present more opportunities to the world in the new era. Opening wider to the world, the country strives to improve the quality of exported products, promote imports, and improve the business environment for investors. The Belt and Road Initiative, in particular, will deliver greater benefits to countries along the routes. In making outbound investments China will become a cooperative partner of countries along the route by integrating into the local economy and taking on its social responsibilities.


In the new year, China will continue to safeguard peace and foster happiness throughout the world.