The 20th Central Committee of the Communist Party of China (CPC) convened its third plenary session in Beijing from July 15 to 18, 2024. At the session, the Central Committee positively assessed China’s success and achievements in deepening reform comprehensively since the beginning of the new era. It was stated that the present and the near future constitute a critical period for building China into a strong and prosperous country and advancing the national rejuvenation on all fronts through Chinese modernization.

The term “Chinese modernization” was frequently mentioned in the session’s communique. Chinese modernization has been advanced continuously through reform and opening up, and it will surely embrace broader horizons through further reforms, enhancing China’s contribution to global development.

Chinese modernization helps achieve East-West balance

Western developed countries initiated the modernization process, spurring global development and reshaping the world order.

The success of Chinese modernization has driven the country’s economic growth and social progress. As the world’s second-largest economy, China has significantly altered the international landscape and balance of power.

Chinese modernization has also contributed to the collective rise of developing nations, leading to a shift from Western dominance toward a more balanced dynamic between the East and the West.

Chinese modernization draws inspiration from Western models while offering new perspectives. Its unique approach features five key aspects: development for a vast population, common prosperity, material and cultural-ethical progress, environmental harmony, and peaceful development. China’s approach emphasizes a “people-centered” focus, challenging certain Western narratives.

One of the unique characteristics of Chinese modernization is its integration of China’s profound history with the modernization process, said Miguel Hidalgo Martinez, an academic at Xi’an Jiaotong-Liverpool University.

Li Cheng, founding director of the Center on Contemporary China and the World at the University of Hong Kong, said China should further advance its opening up. “The U.S. and Europe cannot maintain stability as China does, so China should be more confident and focus on doing its own things well,” Li said.

Experts believe that Chinese modernization benefits both China and other countries, setting an example for alternative development paths.

Chinese modernization produces two “miracles”

In advancing Chinese modernization, the CPC has achieved two “miracles”: rapid economic growth and long-term social stability.

Amid challenges to economic globalization, all countries should oppose unilateralism and protectionism, uphold the global economic order, and ensure stable industrial and supply chains.

China is committed to reinforcing these two “miracles” through further reform and opening up. As it develops and makes progress in Chinese modernization, it will share growth opportunities with other countries, demonstrating its determination and sense of responsibility.

For instance, China and Kazakhstan have innovated a new model for international cooperation on industrial capacity over recent years. It combines China’s cost-effective manufacturing with high-end technology from developed economies, enabling developing countries to access affordable, quality equipment and products. As a result, these countries can accelerate their industrialization and urbanization through supply innovation.

A report by the Academy of Contemporary China and World Studies, based on interviews with people from 23 countries, demonstrated that Chinese modernization has gained widespread approval.

The majority of respondents agreed that Chinese modernization contributes to China’s material, political, cultural, social and ecological progress. They also believed that China would achieve modernization in all respects by mid-century, with leading national strength and international influence.

Chinese modernization offers new approach for Global South

Currently, only about 1.2 billion people live in high-income countries, with just 30 countries having realized modernization. The modernization of China, a country with a population larger than that of all developed countries combined, will significantly reshape the world.

The Global South’s rising economic, political and international status has amplified its global influence. In 2022, the Global South’s total trade volume reached a record $13.3 trillion, with exports accounting for over 40% of the global total, according to trade data.

With BRICS expansion and the development of the China-proposed Belt and Road Initiative, the Global South is increasingly playing a larger role in global governance.

As a member of the Global South, China attaches importance to cooperation with other developing countries. It shared rice planting technology and hybrid varieties with Laos, and helped transform Laos from a land-locked to a land-linked country through the China-Laos Railway, boosting Laos’ agricultural and industrial development.

Chinese modernization is set to open new markets and create cooperation opportunities for the Global South, injecting strong impetus into worldwide modernization. It is also expected to help reform the international governance system and build a global community of shared future.

In a recent article for Modern Diplomacy, Egyptian expert on Chinese affairs Nadia Hilemi wrote, “China’s path toward modernization is one of peace and development, win-win cooperation, and harmony between man and nature.” She added that with the rapid development of the Chinese economy and the increase of its international influence, the Chinese-style modernization model and its ideas have received wide attention around the world.

Through the third plenary session, the world has gained a better understanding of Chinese modernization. Countries are beginning to grasp China’s plans to further deepen reform comprehensively and expand high-level opening-up. It will help promote peaceful development, mutually beneficial cooperation and common prosperity in the world, turning China’s new development into growth opportunities for other countries.

The author is president of and a research fellow at the Academy of Contemporary China and World Studies.