With unwavering courage and confidence to “carry the reform through to the end,” the third plenary session of the 20th Central Committee of the Communist Party of China (CPC), which concluded on July 18, has charted a new course for China’s development in the modern era.
Embracing Historical Initiative and Responsibility
The policy of reform and opening-up represents the CPC’s success in translating theoretical exploration into innovative practice. Chinese President Xi Jinping has emphasized that while history follows its own laws, people are not mere passengers in its course. By grasping the trends of historical development, seizing opportunities presented by change, and being enterprising and innovative, we can contribute significantly to the advancement of human society.
Market Economy and Resource Allocation
It is a fundamental principle of the market economy that the market decides the allocation of resources. In 2014, during an inspection of Chinese automaker SAIC’s motor tech center in Shanghai, Xi emphasized the importance of developing products that meet diverse needs and highlighted the critical role of new energy vehicles (NEVs) in strengthening China’s position in the automotive sector.
Over the past decade, China has introduced a series of policies and measures—from car purchase subsidies to the expansion of NEV charging infrastructure—that have paved the way for the popularization of NEVs and the robust development of the industry. China’s annual production and sales of NEVs skyrocketed from 78,500 and 74,800 in 2014 to 9.59 million and 9.5 million by the end of 2023, an increase of approximately 126 times. This remarkable growth has secured China’s position as the world’s leading NEV market for nine consecutive years.
Integrating Reform into Modernization
The integration of the spirit of reform into Chinese modernization is not just about economic metrics; it reflects a broader commitment to innovation, sustainable development, and global responsibility. By fostering an environment where market forces can operate effectively while aligning with national strategic goals, China aims to achieve high-quality development that benefits both its people and the global community.
The success story of China’s NEV industry exemplifies how strategic reforms and policies can drive significant advancements in technology and industry. As China continues on its path of modernization, the spirit of reform remains a crucial driving force, enabling the nation to adapt to new challenges and opportunities in an ever-changing world.
Reference(s):
cgtn.com
