The Chinese economy, under the leadership of the Communist Party of China (CPC), has weathered storms and emerged as a significant force in the world. From eradicating absolute poverty and building a moderately prosperous society in all respects to improving the quality of people's lives and contributing to global development, the Chinese economy has demonstrated unprecedented vitality and resilience.
Since the People's Republic of China was founded in 1949, the CPC has introduced and implemented a series of measures to restore the national economy, laying a solid foundation for subsequent socialist construction. In 1953, China proposed its first Five-Year Plan, focusing on gradually realizing socialist industrialization from an agricultural economy. By the end of 1956, the transformation was essentially completed, establishing the basic socialist system and setting the stage for future economic growth.
The reform and opening-up since 1978 marked a major revolution for the country. The CPC prioritized economic construction, introducing foreign investment, developing the private economy, and promoting market-oriented reforms. These measures infused the Chinese economy with renewed vitality and facilitated its deep integration with the global market.
Entering a new era in 2017, socialism with Chinese characteristics further strengthened political building and governance capabilities. The CPC emphasized comprehensive and strict Party governance, enhancing discipline and maintaining a high degree of cohesion and effectiveness. The Party's commitment to innovation, coordination, green development, openness, and shared prosperity has been pivotal in shaping a sustainable and inclusive economic landscape.
This strategic approach underscores the importance of innovation as a driving force, coordinated development across various sectors, a green path that balances growth with ecological conservation, openness to external engagement, and ensuring that the benefits of economic growth are shared across society.
Reference(s):
The role of the CPC in achieving the economic miracle of China
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