SFC Market Talk | Understanding China: Decoding China's Reform and Opening up, Modernization

SFC Chief Correspondent Shi Shi

“Carry through the reform to the end.” The 2024 Understanding China Conference kicked off in Guangzhou on December 3. This year, how to understand China?

To understand China, it is essential to understand China’s reform and opening-up. Since 1978, China has made remarkable strides in its economic development. It has become the second largest economy in the world and top investing destinations for multinationals. The 20th CPC third plenary also sent strong signal on China’s reform and opening-up. The reform tasks covered a wide range of areas from the economy and whole-process people's democracy to ecological conservation and national security.

On the economic side, Chinese government released a series of new monetary and fiscal measures to maintain growth momentum in the past several months. This boosted foreign investors' confidence. Goldman Sachs, JP Morgan, UBS raised their China 2024 growth forecasts, showing China's economy is still full of potentials.

To understand China, it is essential to understand Chinese modernization. Chinese modernization focuses on the coordinated development of economic, political, cultural, social and ecological civilization. In particular, Chinese modernization is about peaceful development.

Undoubtedly, Chinese modernization has important reference value and valuable experience for developing countries. And China will encourage more countries to follow the path of peaceful development together.

Chief Producer: Yu Xiaona

Supervising Producer: Shi Shi

Editor: Li Yinong

Reporter: Shi Shi

Video Editor: Shi Shi, Cai Yutian

New Media Coordination: Ding Qingyun, Zeng Tingfang, Lai Xi, Huang Daxun

Overseas Operations Supervising Producer: Huang Yanshu

Overseas Content Coordinator: Huang Zihao

Overseas Operations Editors: Zhuang Huan, Wu Wanjie, Long Lihua, Zhang Weitao

Produced by: Southern Finance Omnimedia Group