Reform and Opening Up
The process of reform and opening up was propelled by a new awakening of the CPC. It has been key to making China what it is today, and will be essential to realizing the Two Centennial Goals and national renewal. It is an on-going process with no end point. The process that ushered in a new historical period was initiated in 1978 when the 11th CPC Central Committee held its third plenary session. Aimed at dismantling the economic straitjacket and unlocking the growth potential, the reform program put China on the path to modernization and prosperity. In addition to the emergence and development of the concept of socialism with Chinese characteristics, the achievements of China's reform and opening up are most convincingly demonstrated by the profound changes it has brought to China and to its relations with the rest of the world. China has made the historic shift from a centrally planned economy to a dynamic socialist market economy and from a closed or semi-closed society to an open one. With an annual growth rate of more than 10 percent for 30 years running, China has become the second largest economy in the world. The challenge to provide its 1.3 billion people with adequate food and everyday essentials has been successfully addressed, contributing to a 70 percent reduction in the number of people living in poverty worldwide. With the per capita disposable income of China's urban residents increasing from RMB 343 to over RMB 31,195, and the per capita net income of its farmers rising from RMB 133 to more than RMB 11,422, the goal of building a moderately well-off society has been largely achieved. China is also adapting to an evolving world landscape, and actively participates in global affairs as a responsible member of the international community. It now accounts for nearly 25 percent of world economic growth. It has brought about economic and social transformation without getting involved in wars on foreign lands, pursuing overseas colonization, or causing widespread social unrest. It has enjoyed political stability, strengthened rule of law, and expanded individual freedom. The public's trust in government is near 90 percent.