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Opinion leaders in the United Kingdom have praised the Chinese government for its clear strategic planning, which they say will lead to success during China"s new era of building socialism with Chinese characteristics while comprehensively creating a more prosperous society.
They also lauded China"s focus on securing equitable growth and better quality of life for all citizens in its new era, adding that the same ideology also characterizes China"s global governance style, which is reflected in policies, including those supporting Beijing"s strong commitment to climate change, the opening-up of China"s domestic market to foreign companies and the Belt and Road Initiative.
Common to all those policies is an emphasis on bringing prosperity and benefit to all partner countries and encouraging more equal access to resources, said Yu Jie, head of China foresight at LSE Ideas, a foreign policy think tank at the London School of Economics.
"China"s new era development model provides inspiration to other countries," Yu said.
Gerry Grimstone, chairman of global investment company Standard Life Aberdeen, said China"s responsibility as a global power will become more obvious.
China"s new era strategic direction was set out by President Xi Jinping at the 19th CPC National Congress in October.
While acknowledging the principal contradiction facing Chinese society has evolved into one "between unbalanced and inadequate development and the people"s ever-growing needs for a better life", Xi said China will seek in the new era to meet the Chinese people"s broad range of needs.
These needs include the people"s demands for democracy, rule of law, fairness and justice, security and a better environment, Xi said.
The Party Congress also proclaimed that China will open up its economy, promote cooperation in countries participating in the Belt and Road Initiative and adhere to the principles of extensive consultation, joint efforts and shared benefits.
Within the context of this new era, Xi outlined a two-step approach to comprehensively build a prosperous society. China will basically realize socialist modernization in the first stage, from 2020 to 2035, before developing China into a "great modern socialist country" that is "prosperous, strong, democratic, culturally advanced, harmonious and beautiful" after another 15 years.
Douglas Morton, head of Asia research at Northern Trust Capital Markets, said it is encouraged to see China invest heavily in technology and research to build a knowledge economy through its new era.
"As technological convergence continues globally, China is increasingly being seen at the forefront of the likes of the Internet of Things, e-commerce and big data trends," Morton said.
Linda Yueh, adjunct professor of economics at the London Business School, said the Belt and Road Initiative comes at an opportune time to address the investment gap that the world is experiencing.
"China"s ability to lead infrastructure investment in the Belt and Road countries, especially in Africa, Central Asia and the Middle East, will bring growth to areas where it is needed," Yueh said.
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