6 ways China’s modernisation offers a new path to prosperity

As the world undergoes profound changes, humanity once again stands at a historic crossroads facing pivotal choices. Amid global uncertainty, China’s modernisation has created a new path for human progress and common prosperity. China’s path to modernity has a socialist character. Led by the Communist Party of China, it follows the general principles of modernisation while being firmly rooted in China’s history, culture and national conditions, giving it distinct characteristics. To understand these characteristics, it’s important to identify them. First, China is modernising with a massive population. With over 1.4 billion people – more than the total population of the world’s developed countries – China’s modernisation is unprecedented in human history. This means China faces more complex issues and even more arduous challenges. However, it also means China can offer valuable experience to countries with large populations on how to modernise. Second, Chinese modernisation aims for common prosperity and pursues shared development outcomes for all. Instead of widening wealth gaps, common prosperity focuses on upholding social justice while narrowing regional and income-based wealth gaps. Today, China’s middle-income group has expanded to include hundreds of millions of people. When China grows its economy, it strives to ensure that growth is inclusive and equitable. Third, Chinese modernisation balances material, cultural and ethical advancement. China prioritises socialist cultural development to nurture creativity, ethical standards and the well-rounded development of the individual. In recent years, China has improved its system of museums and libraries while supporting a flourishing cultural industry. As they enjoy improved material conditions, Chinese people are also experiencing increasingly enriched cultural lives. Fourth, Chinese modernisation seeks harmony between humanity and nature. Guided by the principle that “clear waters and lush mountains are invaluable assets”, China is steadfastly advancing green and low-carbon development. The country’s forest coverage now reportedly exceeds 25 per cent. China has improved ecological governance by striving to reduce greenhouse gas emissions and other forms of pollution while hastening its green transition. The country’s clean energy output reached around 3.8 trillion kilowatt-hours in 2023, accounting for 39.7 per cent of electricity generated that year. China leads the world in installed capacity for hydrogen, wind, solar photovoltaic and biomass power. Fifth, Chinese modernisation follows a path of peaceful development. Rooted in the traditional Chinese philosophy of harmony, we uphold the values that “peace is the most precious” and of “harmony in diversity”. Since China entered its “new era” in 2012, it has focused on building a community with a shared future for humankind with programmes such as the Global Development Initiative, the Global Security Initiative and the Global Civilisation Initiative. China also champions common security over security dilemmas and chooses mutual learning among civilisations over civilisational clashes, offering Chinese wisdom to global development. China doesn’t only strive for national rejuvenation, but also overall human progress. In that aspect, China’s modernisation carries global significance for our current times. It also offers a new alternative for developing countries. Through its own experimentation, China has shown that there are diverse paths to modernisation. This inspires confidence in developing countries to independently explore modernisation paths that suit them. Thanks to China, vast opportunities for economic growth are opening up in countries around the world. As China advances along its modernisation agenda, it is sharing the dividends of its high-quality economic development with others. China has maintained the status of the world’s second-largest importing country for many consecutive years. Policies such as dual circulation – a strategy of expanding the domestic market while remaining open to the world – will undoubtedly lead to more business opportunities. In 2024, China’s foreign investment increased by 11.3 per cent year on year, creating jobs abroad while also driving economic development. Lastly, Chinese modernisation offers new ways to improve global governance. Beijing is steering global governance towards a new model of international relations that is more politically and economically equitable. China advocates for an equal and orderly multipolar world as well as an inclusive model for economic globalisation. The country is embarking on a path of global modernisation defined by mutual benefit and common prosperity. Under the principle of consulting as many stakeholders as possible, China has announced more than 230 Belt and Road Initiative cooperation documents with more than 150 countries and 30 international organisations, injecting fresh momentum into modernisation efforts worldwide. China’s modernisation is inevitable, given the country’s high-quality development, and it also brings new hope for global prosperity. We stand ready to work hand in hand with all countries to create a more prosperous future through Chinese modernisation and build a community with a shared future for mankind.

6 ways China’s modernisation offers a new path to prosperity

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}Focused on equity and shared development outcomes, China’s path to modernity has both distinct characteristics and global relevance

Focused on equity and shared development outcomes, China’s path to modernity has both distinct characteristics and global relevance