The report to the Party's 20th National Congress stated that "high-quality development is the primary task for comprehensively building a modern socialist country." To achieve high-quality development is one of the essential requirements of China's modernization. Since the 18th CPC National Congress, under the strong leadership of the CPC Central Committee with comrades at its core and under the guidance of the Thought on Socialism with Chinese Characteristics for a New Era, China has made great achievements in high-quality economic development, achieved a historic leap in economic strength, significantly improved people's living standards, and shifted the growth drivers in an orderly way. On our new journey, we will fully implement the Thought on Socialism with Chinese Characteristics for a New Era, continue to promote high-quality economic development, and consolidate the material foundation for comprehensively building a modern socialist country.

In the decade of the New era, under the strong leadership of the CPC Central Committee with comrades at its core, China has made remarkable achievements in economic development. A historic leap in economic strength. China's GDP rose from 54 trillion yuan to 114 trillion yuan, accounting for 18.5% of the global economy, an increase of 7.2 percentage points over 2012, and ranking second in the world. Breakthroughs were made in some key and core technologies, and China's position as the world's largest manufacturing country remained stable. Economic development became more independent, autonomous and secure. People's living standards have improved significantly. The per capita disposable income rose from 16,500 yuan in 2012 to over 35,000 yuan in 2021, achieving a comprehensive victory in poverty alleviation. Nearly 100 million people in rural areas were lifted out of poverty, historically solving the problem of absolute poverty and making a major contribution to global poverty reduction. The world's largest education, social security and medical and health systems have been built, and the people have a stronger sense of gain, happiness and security. Economic growth drivers are shifting in an orderly way. The rapid development of the digital economy, which accounts for nearly 40 percent of GDP, has added strong impetus to the building of a strong manufacturing, quality, aerospace, transportation, cyber and digital China. The decade of great changes in the new era has laid a solid material foundation for us to continue to promote high-quality development on our new journey and comprehensively build a modern socialist country.

Ideas are the forerunners of actions, and certain development practices are guided by certain development concepts. The fundamental reason why China has made historic achievements and undergone historic changes in economic development in the past decade of the New era is that the General Secretary was at the helm and guided by the Thought on Socialism with Chinese Characteristics for a New Era. Since the 18th National Congress of the CPC, the Party Central Committee with comrades at its core has accurately judged the new historical orientation of China's development and properly grasped the historical conditions facing development. In guiding economic and social development, it has continuously adapted Marxist politics and economy to the Chinese era, formulated economic thinking, and guided China's high-quality economic development to make new progress. Economic thinking is an important component of the Thought on Socialism with Chinese Characteristics for a New Era. The new development Philosophy provides insight into major political issues such as the political position, value orientation, development model, and development path of development, and reveals the path to higher quality, more efficient, fairer, more sustainable, and more secure development. We will give strong guidance to the new practice of development, and the pace of quality, efficiency, and dynamic reform of economic development will continue to accelerate.

In the present world, the new round of scientific and technological revolution and industrial transformation are deeply developed, which brings new strategic opportunities for our country's development; At the same time, the century-old changes and the century-old epidemic are intertwined, anti-globalization is on the rise, unilateralism and protectionism are on the rise, global economic recovery is sluggish, local conflicts and turbulences are frequent, global problems are intensifying, and the world has entered a new period of turbulence and change. China's development has entered a period in which strategic opportunities, risks and challenges coexist, and uncertain and unpredictable factors are on the increase. In promoting high-quality economic development, the situation is becoming more complex and challenging, and the tasks are becoming more arduous. For a new journey in the new era, we will fully implement the thought on socialism with Chinese characteristics for a new era, follow the theme of promoting high-quality development, fully, accurately and comprehensively implement the new development vision, integrate the strategy of expanding domestic demand with deepening supply-side structural reform, and strive to improve the resilience and security of China's industrial and supply chains. We will accelerate the building of a new pattern of development in which the domestic cycle plays the main role and both domestic and international cycles reinforce each other, enhance the internal driving force and reliability of the domestic cycle, raise the quality and level of the international cycle, and strive to achieve an effective qualitative and quantitative improvement in economic development. We should stay committed to the right direction of economic globalization, work with other countries to foster an international environment conducive to development, foster new drivers of global development, make economic globalization more dynamic, inclusive and sustainable, and make it more open, inclusive, balanced and beneficial to all.

Source: State-owned Assets Supervision and Administration Commission of the State Council