At the beginning of his term as the top leader of the Communist Party of China (CPC) in November 2012, Xi Jinping told reporters the Party's mission: To achieve the great rejuvenation of the Chinese nation.
On the road to rejuvenation, the central authorities have promulgated several new concepts, including the Chinese Dream, the Two Centennial Goals, the Four Comprehensives, and the New Normal of the Chinese economy.
In addition, over the coming five years development will be underpinned by the notions of innovation, coordination, green, opening up and sharing.
Significant achievements have been made across all sectors of governance in the years since Xi made his pledge to journalists. In just three years, Xi and the CPC leadership have successfully steered China closer to achieving this great vision.
THE NEW NORMAL
Economic development is integral to the great rejuvenation of the nation, however, complicated international and domestic economic circumstances have not made it easy.
Xi used the phrase "New Normal" in May 2014 when describing China's next period of economic growth. He went on to elaborate on the concept on various occasions, with questions around how to understand it, how to adapt to it and how to take advantage of it emerging as major queries the country must answer.
China strived to abolish administrative red tape and began to delegate power to lower authorities. This marked a major move in the readjustment of the existing economic structure. It was accompanied by the issuance of policies that support the supply-side reforms and promote innovation in all sectors.
The CPC central authorities have identified new macro-economic manipulation patterns, adapted to the new normal, and shifted its focus from demand to supply.
In fact, in recent days the central authorities convened a number of meetings on economic issues, including urbanization, poverty alleviation and urban work, showing that the central authorities are able to respond precisely to economic issues.
Innovation has, time and time again, been heralded as a prominent driver of economic development. Since the start of 2015, on average, over 11,000 new enterprises are established every day.
The country is also putting its full weight behind three major economic strategies, including the Belt and Road Initiative, which advances infrastructure links with countries in central western and southeastern Asia and other regions.
The coordinated development of Beijing and Tianjin municipalities and Hebei province will foster a new region of growth in China, while the plan to develop the economic belt along the Yangtze River will ignite a market worth trillions of yuan.
In addition, the Asian Infrastructure Investment Bank came into being after more than 50 countries flocked to support the financial institution. Moreover, there is the Silk Road Fund, which is accelerating the construction of free-trade zones, and China is creating a new world economic pattern with an open attitude.
China's GDP growth, with a rate of around 7 percent, is roughly the same as the total GDP of a mid-sized country, accounting for 30 percent of contribution to the world's total economic growth.
