Commentary: New development philosophy helps China prosper, benefits world

On March 5, Chinese President Xi Jinping re-emphasized the necessity for the country to put into practice the new development philosophy, calling it the path that must be taken to develop China into a strong nation in the new era.

"As long as we apply the new development philosophy in full, in the right way and in all fields of endeavor, accelerate efforts to create a new development pattern, promote high-quality development and speed up strengthening our country's science and technology capacity, we will definitely be able to consistently improve the competitiveness and sustainability of our country's development, seize the initiative and embrace a good future in the increasingly fierce global competition," said Xi, also general secretary of the Communist Party of China (CPC) Central Committee and chairman of the Central Military Commission. Xi made the remarks while participating in the Inner Mongolia Autonomous Region delegation's deliberation at the fifth session of the 13th National People's Congress.

The new development philosophy, featuring innovative, coordinated, green, open and shared development, was put forward by Xi in 2015. It underscores the quality of economic and social development, and comprehensively answers the key questions surrounding China's future development, including its purpose, driving force, and methods. Moreover, it manifests the CPC's understanding of development path and pattern, as well as its values and political stance.

With the philosophy charting a development path that fits China's actual situations, the country has made historic achievements and witnessed historic changes in its economic and social development under its guidance. Particularly, amid fundamental changes worldwide and the unprecedented challenges they bring, China's economy has shown remarkable resilience.

In recent years, the world has seen a rise in anti-globalization sentiment. Due to it, and the restrictions on traveling and transportation caused by the COVID-19 pandemic, parts of the global industrial chain and supply chain were brought to a halt. China's domestic economic circulation was largely affected.

To address the problem, apart from adopting strong measures to coordinate pandemic control and economic growth, and expanding high-level opening-up, China has also actively built a "dual circulation" development paradigm, in which domestic and overseas markets reinforce each other with the domestic market as the mainstay.

The timely adoption of these strategies has reinforced the resilience of China's economy and helped shield it from global impact. As a result, China became the first major economy to register positive economic growth amid the pandemic. In 2020 and 2021, having witnessed an average GDP growth of over 5 percent, China continued to be a stabilizing force in the global economy.

Moreover, determined to pursue economic development featuring openness and shared benefits, China has actively taken up its due responsibilities in stabilizing the global industrial chain and supply chain. For example, despite the impact of the pandemic, the China-Europe freight train remained in operation, playing a pivotal role in international transportation. In 2021, a total of 15,183 China-Europe freight train trips were made, bringing the total number of trips amounting to over 50,000.

China's development path and the results it produces are recognized by the international society. "China achieved a truly remarkable recovery," said Kristalina Georgieva, managing director of the International Monetary Fund. "As China is a vital engine for global growth, taking strong actions to support high-quality growth will help not only China, but the world."

It is of vital importance for one to stay true to the right path in downpours and against the headwind. Prepared to face more complicated situations and more daunting tasks in the new development stage, China is bound to continue applying the new development philosophy, deliver more tangible benefits to its people, and contribute to global economic and social development.