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Xi's political economy renews modernization drive(2)

Hu, from Tsinghua University, echoed Liu's view, saying a society that features common prosperity will be characterized by common development, sharing the results of development and eliminating poverty.

He has also publicly defended free trade against a backdrop of weak growth momentum in major economies and rising trade protectionism, and managed to sustain the world's second-largest economy on the track of fast growth.

Through the APEC Beijing summit in 2014, the UN Sustainable Development Summit in 2015 and the G20 Hangzhou summit in September, Xi has played a responsible and irreplaceable role in the relevant fields.

According to Zhang Youwen, director of the institute of world economy at the Shanghai Academy of Social Sciences, in recent years, the CPC Central Committee has coped effectively with challenges through the guidance of the sinicized Marxist political economy, structural adjustment and internal reforms.

Xi has also taken a quantum leap in leading China's participation in global governance, guiding the ancient civilization back to the center of the world stage.

The ongoing efforts include devising a new mode of relations between China and the United States, implementing the Belt and Road Initiative to link Europe, Asia and Africa, an emphasis on neighborhood diplomacy and vigorous participation in global governance.

In the aftermath of the 2008 financial crisis, the global political and economic order, as well as Western social and economic development models, fell short in formulating a viable solution to the crisis. As a result, the problems have still not been fundamentally resolved.

Although China's development comes during a period of strategic opportunity, the national economy is facing complex external and internal environments.

The country has also built the world's largest modern public cultural system. In 2015, broadcasting and TV programs covered more than 98 percent of the population, while public libraries, cultural centers and museums received nearly 2 billion visitors.

In a major ecological achievement, China is gradually decoupling its economic growth from heavy consumption of resources and the subsequent pollution.

Internally, China's decades-long reform drive is at a crossroads amid the pressing need for a transition in the country's growth model.

The four plenary sessions of the 18th CPC Central Committee opened a new chapter and drew up a new blueprint for the country's comprehensive development, revealing China's effectiveness and strong will in governance, according to Hu, of Tsinghua University.

Last year, China's GDP grew by 6.7 percent to 74.4 trillion yuan ($10.8 trillion), making the country the fastest-growing major economy in the world.

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