China's reforms influence world: experts(2)

Meanwhile, in order to achieve the prosperity of culture, the meeting called for the creation and completion of a modern public cultural service and market system.

Acknowledged by experts home and abroad, the prosperity of Chinese culture, which cherishes harmony in diversity, will strengthen China's soft power and mutual understanding with the rest of the world, and consequently lays foundations for a harmonious and peaceful Earth.

As for social justice, members of the CPC's central committee agreed to reform the income distribution system for common prosperity, so as to ensure and improve people's lives.

In a phone interview with Xinhua, Stephen Roach, a senior fellow at Yale University's Institute of Global Affairs and former chairman of Morgan Stanley Asia, said, if the economic transformation played out, the development of Chinese consumption could be one of the most important developments for the world economy, too, including the United States.

"In my hope for China, these are pieces of a bigger puzzle which really shapes the growth model much more towards a balanced economy that draws support not just from export and investment, but increasingly from internal private consumption," Roach said.

On the environment front, the committee asked for an early establishment of a new pattern for the harmonious development between people and mother nature and the completion of a system guarding exploration, resource conservation and environmental protection.

A NEW EPOCH OF ECONOMIC THINKING

Facing the global economy's stumbling recovery, developed and developing countries are all looking for solutions via reform.

In those circumstances, the meeting's communique, featuring comprehensive reform, will provide opportunities and dividends to other countries while, at the same time, giving them valuable experience.

Applauding the document as "extremely encouraging", World Bank President Jim Yong Kim said Tuesday that, despite lower growth figures, China was continuing down the path of reform.

China's commitment to reforms of the business environment and the role of the private sector seemed very firm, Kim said.

"We expect them to perhaps grow at a slower rate, but the quality of growth we think will be better," he said.

Echoing Kim's remarks, Joergen Oerstroem Moeller, visiting Senior Research Fellow at the Institute of Southeast Asian Studies, Singapore, noted in Copenhagen that, although confidence in the economic future was low, China could reverse that trend and spread its own confidence to other countries.

Moeller said that China is trying to find its own economic model. "If China succeeds, it may well open a new epoch of economic thinking," he said.