China’s Path to Modernization

At present， thechanges in theworld， the times，and human historyare unfolding faster than everbefore. Chinese modernizationhas adopted many of thecommon characteristics of themodernization of all countrieswhile retaining distinctivefeatures based on China’s ownnational conditions. China’sexperience can help addressquestions from China， fromthe world， from the people， andfrom the times.

High-quality economicdevelopment is key tohigh-quality developmentand an important foundationfor advancing Chinesemodernization.

China’s economy enjoysa solid foundation fordevelopment. The institutionaladvantage of a socialistmarket economy provides aguarantee for the long-termand stable development of theChinese economy. The demandadvantage of an ultra-largemarket provides strong supportfor forging a new developmentparadigm. The supplyadvantage from a completeindustrial system provideseffective support for thecountry to maintain industrialsecurity， promote industrialinnovation， and enhanceinternational competitiveness.The talent advantage froma massive population ofhigh-caliber professionalsand entrepreneurs providesnecessary human resources forbuilding a modern socialistcountry in all respects.

China has the most largecities and urban residents inthe world. The agglomerationof cities has fostered andaccumulated new strength forChina’s economic development.Large-scale manufacturing isthe primary engine for China’shigh-quality development.China boasts the world’slargest power supply systemand clean power generationsystem which are securing anincreasingly significant role inthe global energy transition. Byleveraging its important globalposition in the exploration ofcritical minerals， China hasmade great contributions tothe sustainable development ofthe world economy. China hasalso become a world leader inthe development of artificialintelligence technology. Seizingopportunities brought bydigital innovation， the countryis upgrading its businessmodels to inject new impetusinto economic development.China has realized remarkableachievements in space，deep-sea， and deep-earthexplorations， and such majornational projects have laidthe foundation for futuredevelopment. While fosteringits own development， China hasalso deeply integrated into theglobal production system andactively embraced the world.

The advantages of theChinese economy representthe cornerstone of China’shigh-quality developmentand have laid a solid materialfoundation for Chinesemodernization.

A groundbreakingeffort in human history，Chinese modernizationis the modernization ofa huge population， ofcommon prosperity for all，of material and culturalethicaladvancement， ofharmony between humanityand nature， and of peacefuldevelopment. Comprehensivelydeepening the reform ofthe economic system andbuilding a more systematic andstrategic opening-up systemare powerful measures toexpand the space for Chinesemodernization.

Today， China has establishedthe basic institutionalframework and achievedhistoric breakthroughs invarious fields. Great progresshas been made in deepeningthe reform of state-ownedassets and enterprises andbuilding a unified， openmarket system featuringorderly competition. Themacroeconomic governancesystem has continuouslyimproved， and the mechanismfor scientific and technologicalinnovation has been greatlystrengthened. Chinacontinues to advance bilateral，regional， and multilateralcooperation， promote thereform and innovation ofsocial undertakings， acceleratethe construction of newsecurity patterns， and enhanceeconomic security capacity.From specific exploration andbreakthroughs to systematicintegration and comprehensiveprogress， it has injectedinexhaustible momentum intoChinese modernization.

In the years to come，building a high-level socialistmarket economy systemrequires focus in several areas：deepening and upgradingthe reform of state-ownedenterprises while promotingthe development and growth ofprivate enterprises， concretelypromoting construction of ahigh-standard market system，advancing reforms of thescientific and technologicalinnovation system， theeducation system， and thetalent system， forming anew type of productionrelationship compatible withthe development of new qualityproductive forces， and stickingto a path of green， low-carbon，and high-quality development.

In terms of promotinghigh-level institutional openingup， China continues to builda market-oriented， law-based，and internationalized businessenvironment and implementinga pre-establishment nationaltreatment plus negative listmanagement system. In 2021，China formally applied tojoin the Comprehensive andProgressive Agreement forTrans-Pacific Partnershipand the Digital EconomyPartnership Agreement，demonstrating an activestance in participating inglobal economic and tradegovernance.

As changes unseen ina century unfold rapidlyacross the world， domesticand international situationsare becoming more complexand volatile. In this context，China needs to accelerate theformation of a new， openeconomic system with higherstandards.

Institutional opening upcan drive China’s continuousimprovement of theinstitutional environmentfor open development， whichis essential for building anew， open economic systemwith higher standards. Itcan promote further reformof trade liberalization andgreatly increase the supplyof high-quality goods andservices and high-end factorsboth at home and abroad.By actively aligning withhigh-standard internationalrules， it can promote the freeand convenient cross-borderflow of goods， technology，capital， data， and other factors.

It should be noted that thegoal of institutional openingup is not only to serve China’sconstruction of a new， openeconomic system with higherstandards in the short andmedium term， but also tocomprehensively promoteChinese modernizationthrough institutionalinnovation in the long term andcontribute Chinese strength tothe formation of a rules-basedinternational order.