China Focus: Socialism with Chinese characteristics: 10 ideas to share with world

Source: Xinhua| 2017-10-08 18:46:20|Editor: Lu Hui
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Still in the primary stage of socialism, China has adopted a basic economic system with public ownership playing a dominant role and diverse forms of ownership developing side by side.

This allows the vitality of the public sector, especially state-owned enterprises, to be strengthened while encouraging, supporting and guiding the development of the private sector. China gives the market a decisive role in allocating resources, and the government can play a better role in macro-policy efficiency.

Known as "walking with both legs," it reflects a fine Chinese tradition of holistic and dialectical thinking.

"The parochial understanding the western world has for the relationship between market and state does not apply to China, where the two sides enjoy a symbiotic relationship instead of being constantly at odds with each other," said Professor Shi Zhengfu with the Center of New Political Economy at Fudan University.

Under such arrangements, China's socialist market economy has had an excellent performance, creating economic miracles. The country saw 16,000 newly registered enterprises every day on average in the first half of this year. Consumption contributes 63.4 percent of economic growth. E-commerce, Alipay and shared bikes, which mainly involve private enterprises, stand with high-speed rail, that is manufactured and operated by state-owned enterprises, as new driving forces in China's economy.

This vitality has made the nation a "talent magnet." About 430,000 Chinese students studying overseas returned to work in China last year. Si Kang, a young entrepreneur from Zhejiang Province, founded a startup back home after obtaining his degree in France. Now, his company has notched up more than ten patents.

"This is the opportunity of our lifetime, we must not let it slip away too easily," he said.


Social stability, along with development, is an absolute principle. Security is a crucial part of people's livelihood and creates an environment for development.

Despite its ethnic diversity, large territory and the unbalanced development between different regions, the world's most populous country has maintained social stability, mainly thanks to its ability to maintain balance between reform, development and stability.

Facing changes in social relations and interests during reform, China has solved problems directly concerning the people's interests while guiding the public to deal with different interests and express their demands appropriately.

The Chinese government sees employment as the "stabilizer of society." More than 13.1 million new urban jobs were created last year. Incomes are rising and the income gap narrowing. China has established the world's largest social security network.

Officials are increasingly resorting to the law in coordinating interest groups and resolving conflicts. In recent years, China has enhanced management of cyberspace to ensure security and development in the field amid efforts to maintain social stability.

A growing number of people have recognized China as one of the world's safest and most stable countries. China has provided a safe and stable living environment for about one-fifth of the world's population, and this is a significant contribution to humankind.


For countries that want to prosper in this increasingly open and globalized world, turning inward is not the way to go.

Today, many localities in China are turning into "cities of migrants, " which more foreigners are investing and living in. Chinese people welcome them.

As a beneficiary and contributor to globalization, China proposed the Belt and Road project to connect dozens of countries in Asia, Europe and Africa against a backdrop of rising anti-globalization rhetoric.

China proposed the Asian Infrastructure Investment Bank, which attracted 57 founding members, including the United Kingdom and Germany. The bank has approved 3 billion U.S. dollars financing 28 projects.

There are more China-Europe freight trains. Economic corridors between China and neighboring countries are benefiting people. The China- Australia free trade agreement has yielded quick than expected results.

China has opened a brand-new territory for a "community of shared future," a concept even incorporated into United Nations resolutions.


The bitter experience of the past has taught China about the dangers of blindly copying the western model, both politically and economically. Unfortunately, such a tragedy is being repeated in other countries.

To solve its problems, the only way forward for China is to find its own path.

Chen Ping, professor of National School of Development at Peking University, said the 2008 financial crisis dealt a heavy blow to western powers, as social conflict intensified and global economic volatility ensued.

"However, China is doing surprisingly well. It has not only avoided the economic hard landing but also increased the competitiveness of its state-owned enterprises and government regulatory capability," he said. "The fact that China is doing well has shaken the very foundation of western economics and politics."

For Li Shimo, a venture capitalist based in Shanghai, China's success has shown there is more than one model in the world that can produce good governance.

"China's example is not that it provides an alternative, but that it shows alternatives exist," Li said.


It is impossible for a nation to thrive if it abandons its culture and betrays its past.

Chinese civilization has existed uninterrupted for 5,000 years, and now the CPC has been put in charge of renewing Chinese culture and developing an advanced culture.

A series of policies have been issued to enhance the cultural confidence of the country. In the country's primary and secondary schools, Chinese language textbooks have been revised to focus more on traditional culture, including more ancient articles and poems.

China respects cultural diversity and is keen to learn, import and absorb whatever cultural fruits it can, including those developed by capitalist countries.

Such a sense of cultural confidence and inclusiveness is integral to Chinese civilization. It also provides the spiritual dynamics for the realization of national rejuvenation.

For Martin Jacques, a senior research fellow in Cambridge University, the west remains far too ignorant about China, often resorting to cliche.

"We cannot understand the rise of China using Western concepts," Jacques said. "'Think China' should be the guide to the way we think about our future."

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KEY WORDS: Socialism