Children get their faces painted at a kindergarten in Nantong, East China's Jiangsu province. [Photo by Xu Congjun/For China Daily]
People-centered philosophy of development
Bringing benefits to the people directly and indirectly is the ultimate goal of economic development. Fast economic growth in the past brought a lot of indirect benefits to the people. As China enters into new era, a people-centered approach bringing more direct benefits, such as better education, environment, living conditions and medical services, is needed for high-quality development.
A night view of the Bund with the Oriental Pearl TV Tower and other skyscrapers in Pudong, Shanghai on Jan 22, 2017. [Photo/IC]
More balanced development
High-quality development should be promoted through a more balanced approach, because the principal contradiction facing Chinese society is now the contradiction between unbalanced and inadequate development and the people's ever-growing needs for a better life. Unbalanced development, which includes great disparity in wealth allocation among different people and diverse regional development levels, is a serious problem for China and should be a top priority.
Curbing financial risks is an important premise for sustainable development of the country. [Photo/VCG]
Fast economic growth has improved people's living standards, but also brought many potential risks, especially systematic financial risks. Preventing these risks from developing into economic, financial or social crises will be an important part of China's sustainable economic development in the future.
iFlytek's AI-enabled robot "sits" for China's national medical licensing examination. [Photo provided to China Daily]
China has entered the fourth industrial revolutionary era, prominently featuring the internet and its practical applications, even though the country's economy driven by labor and capital has made great achievements over the past 40 years. To develop further and take a leading role in the world economy, China should transfer its economic development mode from labor- and capital-driven to innovation-driven.