Nation's peaceful path to prosperity inspiring

As the only major economy reporting positive economic growth last year upon basically defeating the COVID-19 pandemic, China once again exhibits its ability to overcome challenges and expand successfully. This year has significance, since the force behind a bright China－the Communist Party of China－is marking the 100th anniversary of its founding.

For years, a moderately prosperous society, or xiaokang society, has been a catchphrase in China.

Xiaokang, which can be dated to the oldest existing classic of Chinese poetry, carries a main aim of allowing the Chinese population to live a relatively comfortable life with a progressive mindset to move forward and pave the way for future generations.

Also an initial aim of the CPC during its century-old struggles, the concept invokes increasing per capita income and realizing a better, fairer and more equal distribution of wealth resulting from economic growth.

The 18th National Congress of the Communist Party of China in 2012 proposed the goal of completing "the building of a 'xiaokang society' in all respects" by 2021.Since then, President Xi Jinping has raised the concept of "two centenary goals" more than 100 times in speeches and articles.

Despite all the difficulties caused by the COVID-19 pandemic, China still managed to attain its goal and eliminated absolute poverty at the current level, lifting about 10 million people out of abject poverty in each of the past 10 years and paving a solid foundation for its first centenary goal to be accomplished on time.

From this year on, "China will embark on a new journey toward fully building a modern socialist country", Xi said while addressing the Asia-Pacific Economic Cooperation CEO Dialogues via videoconference late last year. He again stressed the point in his New Year's address on Dec 31.

Fully building a "modern socialist country that is prosperous, strong, democratic, culturally advanced, harmonious and beautiful" by 2049 is the second centenary goal, which coincides with the 100th anniversary of the founding of the People's Republic of China.

For people both in China and in the rest of the world, China's attaining its goals with peaceful means is bliss.

An immediate source of bliss will be the emergence of the world's largest group of middle-class consumers. A Brookings Institution forecast said China will add up to 850 million in the middle class by 2030－or 73 percent of the population, which no doubt is the backbone and linchpin of a greater China and the world's strongest driving force of demand for global produce.

Although China still has to fight sporadic outbreaks of the pandemic, the country is ready to embark on its 14th Five-Year Plan (2021-25) for National Economic and Social Development and the Long-Range Objectives Through the Year 2035. While the former envisages a massive overhaul of the country's domestic market to boost consumption to reduce China's reliance on shrinking export markets, Vision 2035 visualizes a long-term plan.

The key to the progress will be the new "dual circulation" development paradigm, which has the domestic market as the mainstay, with the domestic and international markets reinforcing each other. In Xi's words, "the new development paradigm is a strategic decision we have made based on the current stage and conditions of development in China and with full consideration given to economic globalization and changes in the external environment."

China can achieve a real economic growth target of up to 8 percent this year, as the country succeeds with a full recovery from the COVID-19 pandemic, according to estimates.

China's control over the pandemic is widening its divergence with other major nations, many of which are now reimposing virus restrictions amid new waves of cases. After an early reliance on State-led investment to spur the economy, the latest figures show China's recovery has broadened out to consumers, with spending on goods like cosmetics and jewelry picking up strongly.

The country has promoted supply-side as well as demand-side reforms and prudent infrastructure spending, adopted further opening-up measures, and stabilized impressive export growth－all helping to boost the V-shaped recovery in the domestic economy since the second quarter of last year.

Moreover, after being rated as accounting for more than half of the global investment in artificial intelligence over the past five years, the country is expected to intensify AI input as it sees AI as an economic game changer that will have a huge impact on social life and the world.

Overall, China is on the road to consistent and peaceful growth in terms of a harmonious society, strong and robust economy, increased use of technology in economic and infrastructure development both at the micro and macro levels, and, more important, political stability－all indicators of a highly progressive society and country.

The author is secretary-general of the Pakistan-China Friendship Association's Khyber chapter and a media consultant.