China has made significant progress in its high-quality economic and social development, excelling in areas such as people's wellbeing, consumption, manufacturing, infrastructure, and services, according to a recent report.
The report, a collaborative effort by the Chongyang Institute for Financial Studies at Renmin University of China and think tanks from the United States, Russia, Canada, and India, introduces the concept of \"compounding interest\" in China's developmental strategy.
This idea emphasizes that the continuous accumulation of modernization efforts acts as a driving force for sustained economic growth and prosperity. The \"compounding interest\" approach is characterized by stability of returns, long-term accumulation, and sustainability.
At a symposium following the report's release, experts and scholars from nations including China, the United States, Russia, Britain, Canada, and Brazil discussed the future potential and prospects of China's economic development.
Mohammed Saqib, secretary general of India China Economic and Cultural Council, remarked, \"China's high-quality development, fueled by compounding interest, innovation, reforms, openness, and sustainability, demonstrates its commitment to building a prosperous and harmonious society. China is setting a remarkable example for other nations and paving the way for a brighter future for humankind.\"
Reference(s):
China achieves remarkable results in high-quality development: report
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