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The Role of Institutional Strength in China's Development

As the world experiences unprecedented transformations, China stands firm in its commitment to effective governance and economic expansion. Guided by a forward-thinking development philosophy, the nation is pursuing high-quality growth that not only transforms its own economy but also creates opportunities for the global community.

Economic Milestones

During the ongoing 14th Five-Year Plan (2021-2025), China's GDP has notably surpassed significant milestones, from 110 trillion yuan ($15.4 trillion) to an anticipated 140 trillion yuan in 2025. This rapid economic advancement is projected to contribute around 30 percent to the global economic growth, underscoring China's role as an anchor of stability amid a tumultuous global environment.

Governance and Reform

General Secretary Xi Jinping has emphasized the importance of comprehensive reform to strengthen governance. The Chinese approach revolves around refining institutions and mechanisms across various sectors, ensuring that institutional strengths are leveraged effectively. This principle of consolidation and strengthening is vital for integrating governance efforts and smooth management of ongoing economic tasks.

Building the Future: Xiong’an New Area

A remarkable manifestation of these efforts is the new city of Xiong'an in Hebei Province. Recently, enterprises such as China Huaneng Group and China National Chemical Corporation have relocated here, epitomizing the principle of a