By Liu Zhiqin    Source: CGTN    Published: 2018-12-19

There are many miracles in the world and in the process of human civilization. But the rise of China is, among them, the greatest. In just 40 years, China accomplished the most marvelous spectacle in human development, achieving huge societal progress and lifting the living standards of billions of people.

The Third Session of the Eleventh CPC Central Committee, which was held on December 18, 1978, heralded the start of the great cause of China's reform and opening-up process. The meeting is significant in that it boldly broke the political shackles that impeded China for many years, successfully predicted the international conditions and recognized China's backwardness in it. Then, an unprecedented reform process was undertaken with much bravery.

The Chinese Communist Party decided to focus on economic development, emancipate the mind and seek truth from the facts. The reform and opening-up policy is intended to put China on a path of great national rejuvenation.

China is fortunate to carry out the reform and opening-up strategy at a much-needed proper moment. And it also sticks to the path of reform and opening-up policy. This policy is the backbone of China's sustainable development. Without it, China's economy and the livelihood of the Chinese people will face unpredictable risks.

The remarks made by Chinese President Xi Jinping at the commemoration for the 40th anniversary since the start of this policy reaffirmed the country's commitment to more in-depth reforms. It also shows the world China's resolve to stick to this path. The world thus knows that the future development of China is in line with the interests of the world.

China may face more serious challenges and obstacles in the years ahead. Unilateralism and protectionism are the two main sources of challenges in the world. Some may even contain China's development by force. Two major ways exist to achieve that goal.

The first is the hard approach, which refers to all kinds of domestic policies in foreign nations that prohibit the entry of Chinese enterprises.

The second is a soft approach, which refers to the denial of access to local markets on the grounds of national security. These nations set special entry requirements for Chinese companies, thus worsening the business environment for China. These moves are intended to kick China out of the international supply chain and value chain.

Faced with these two types of challenges, Chinese enterprises should just focus on strengthening themselves and increasing its capacity to cope with pressure so as to secure a place on the international market.

Obstacles come from the domestic situation. The reform progress of various domestic institutions, the performance of state-owned enterprises and private enterprises are all testing grounds for China. Industrial upgrade, technological innovations, optimization of corporate structures and government institutions as well as management structures are all of great significance.

If China can develop well in the domestic market, it will have the confidence to talk and cooperate with other nations and earn their respect.

The future development of the world requires further cooperation and solidarity. Efforts that intend to divide the world and isolate China from the international community will, in the end, backfire.

Liu Zhiqin is a senior fellow at the Chongyang Institute for Financial Studies of Renmin University.