Foreign Party Leaders Laud Supply-side Structural Reform and CPC's Leadership

By staff reporter ZHANG HUI

In Beijing on May 25, a thematic briefing was held on the CPC-led supply-side structural reform, taking the practice of Central China's Hubei Province as an example. The International Department of the CPC Central Committee (IDCPC) organized the event, which was attended by more than 400 people representing foreign political parties, embassies in China, international organizations, and multinational corporations.

Head of the IDCPC Song Tao gave a speech at the thematic briefing.

"How to solve economic problems and revitalize the economy have been hot topics in inter-party exchanges," Song Tao, head of the IDCPC, indicated in his welcome speech. He emphasized that Xi Jinping's supply-side structural reform was an important economic theory and an innovative practice that aimed to tackle the new challenges of the economy's "new normal," maintain China's medium-to-high economic growth rate, and upgrade the country's industrialization to a mid and high level. The reform seeks long-term sustainable development, which will also benefit its neighboring countries, thus instilling a constant impetus in the world economy and contributing a "Chinese plan" for building an open economy and advancing new-type globalization, according to Song.

Secretary of the CPC Hubei Provincial Committee Jiang Chaoliang speaks about the province's practice in the supply-side structural reform. Zhang Hui

Hubei, a pivot province for China to boost its central region's development and a central area of the Yangtze River Economic Zone, has made great headway with the supply-side structural reform. Jiang Chaoliang, secretary of the CPC Hubei Provincial Committee, said that Hubei had notably optimized its economic structure, advanced green development, and improved people's livelihoods by cutting overcapacity and excess inventory, deleveraging, reducing costs, strengthening points of weakness, and advancing supply-side structural reform in the agricultural sector.

Here, we outline the opinions on the CPC-led supply-side structural reform expressed by foreign party leaders at the event.

A Right Strategy

In his speech delivered at the briefing, Tawfiq al-Tirawi, member of the Palestinian Fatah Central Committee, agreed that the supply-side structural reform was a great practice under the CPC leadership with General Secretary Xi Jinping as the core.

Tawfiq al-Tirawi, member of the Palestinian Fatah Central Committee, speaks at the thematic briefing.

Days previously, the Palestinian Fatah delegation led by Tawfiq al-Tirawi had been on a tour of Hubei, which he said had deepened his understanding of China's reform. "We visited several cities including Wuhan, Qianjiang, and Xiantao, and witnessed the remarkable achievements made by the province in agriculture, science and technology, urban construction, and infrastructure. It showed us that the CPC-proposed strategy is on the right track. Great success has been demonstrated in such fields as innovation, new industrialization, and balanced development. Our delegation unanimously agreed that China has set an example for the whole world," al-Tirawi said.

In addition, in his speech, al-Tirawi also spoke highly of the CPC's core principle that all work aims to improve people's livelihood. "We're happy to have the CPC as our friend and a role model," he said. Al-Tirawi said that the delegation would take China's successful practice back to Palestine to advance their country's progress in institutional construction, poverty alleviation, and tackling unemployment.

A Successful Practice

In an interview with China Today, Zinaida Greceanii, chair of the Party of Socialists of the Republic of Moldova, said that China's supply-side structural reform would not only benefit China's development but was of internationally significance. "Now China's economic development doesn't just concern itself, but relates to development of many other countries including those in Europe," she said. Despite being a small country with a population of four million, Moldovans are interested in cooperating with China and keeping close eye on China's development, she continued.

Zinaida Greceanii, chair of the Party of Socialists of the Republic of Moldova, attended the event and had an interview with China Today. Zhang Hui

Greceanii told China Today, "Over the past decades, China has made remarkable achievements. It's inevitable for the country to encounter various problems. We can see that China is finding ways to deal with them. I think the supply-side structural reform is a successful practice."

When asked about her views on the CPC, Greceanii told China Today, "The Community Party of China is the world's biggest political party and a role model for other parties of the world, which is testified through its past practices. We are very willing to have exchanges and cooperation with the CPC, which we believe will greatly benefit us. I believe our cooperation with the CPC will progress."

Part of China's Gigantic Progress

Victor Bostinaru, vice president of the Group of the Progressive Alliance of Socialists and Democrats in the European Parliament, said in an interview with China Today that China's practice of supply-side structural reform was "part of China's gigantic progress." "China has achieved a great deal since its opening-up, to an extent that no one had ever thought possible. I first came to China in 2004. Since then I have visited China almost every year. China has moved at an impressive pace and achieved great social and economic progress, which has made it possible for China to become the world second largest economy," he told China Today.

Victor Bostinaru, vice president of the Group of the Progressive Alliance of Socialists and Democrats in the European Parliament, attended the event and had an interview with China Today. Zhang Hui

On the subject of China's current economic situation, Bostinaru said, "It's hard to say that China's economic growth has slowed down considering the growth rates in other parts of the world, particularly those of European countries."

Bostinaru also shared his view on China's structural reform: "I'm very impressed by China's recent efforts in restructuring its economy. It is reshaping its economic growth pattern, shifting from the former export-driven one to the one based on domestic demands. This change gives China's economy more resilience and stability. Many forecasts indicate that China is still the world's major engine for economic growth. Although I'm not an economist, I've heard lots of economists' voices about China. They believe there are no major economic risks facing China. They foresee a stable growth under the 'new normal' in China. So I'm quite confident about Chinese economy. As China further advances its Belt and Road Initiative, the country will not only boost its own economy but also propel the world's economy through infrastructure projects."

Bearing People's Needs in Mind

Ali Mashal, an official of Palestinian Fatah's department for relations with Arab countries and China, told China Today: "China’s reform is internationally important. This idea of development and restructure has a strong impact on every country of the world. It's about peace, stability, and dignity." He remarked that under the CPC leadership, China had not only greatly improved Chinese people's livelihood, but had extended helping hands to many countries without additional conditions. "What's going on in China is something amazing, deserving lots of respect and appreciation. I'm very happy to be here to witness China's great change and development under the CPC leadership," Mashal said.

While sharing his view on the CPC, Mashal said that the CPC is a great and wise party. "They always ask for advice from the people. Their policies and strategies are based on the needs of their people. They are doing a great job by giving people the chance to live better and do better. They take all people's needs in every aspect into account," he remarked.