China’s sweeping reforms are redefining the nation’s path to growth, demonstrating a steadfast commitment to fostering a market-oriented, law-based, and world-class business environment.
At the third plenary session of the 20th Communist Party of China (CPC) Central Committee in July, China introduced more than 300 reform measures, signaling a new phase in the country’s development strategy. These reforms target deeper systemic, mechanistic, and institutional areas, aiming to balance economic growth with social stability.
Despite the ambitious scope of these reforms, some Western critics question their effectiveness, accusing China of making promises without substantial action. This skepticism highlights a fundamental divergence in reform philosophies between China and the West.
For decades, Western nations have anticipated that China would adopt liberal economic systems similar to their own. However, China’s reform strategy is rooted in its unique national conditions and guiding principles. Chinese President Xi Jinping has emphasized the importance of upholding the Party’s overall leadership, Marxism, socialism with Chinese characteristics, and the people’s democratic dictatorship, while prioritizing social fairness, justice, and enhancing people’s well-being.
Unlike Western countries that may pursue rapid changes at the expense of societal well-being, China adheres to a gradual approach to reform. This method ensures careful planning and balances immediate transformation with long-term stability.
The results of China’s latest reforms are evident. The country has established nearly 10,000 digital workshops and intelligent factories. According to Xinhua News Agency, there are now 50 cross-industry and cross-field industrial Internet platforms. Additionally, China has developed 45 national advanced manufacturing clusters in information technology, high-end equipment, new materials, and energy.
In Changzhou, Jiangsu Province, nearly 97 percent of all segments of the power battery supply chain are present, showcasing the successful integration of the real economy and the digital economy.
These outcomes demonstrate that China’s reforms are producing tangible results, redefining its growth trajectory, and should not be dismissed simply because they differ from Western expectations.
Reference(s):
cgtn.com
