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How is the Chinese Dream changing the world?(2)

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2015-06-10 08:59Xinhua Editor: Gu Liping

The Chinese Dream is the dream for every Chinese individual. In the Three Gorges reservoir region in central China's Hubei Province, 35-year-old farmer Zhou Xingliang's dream is quite ordinary: he wants his son to grow up healthy and go to a good college, and for he and his wife to be able to take good care of their parents.

Several hundred kilometers away, in Danjiangkou City, chicken farmer Tan Yong has different aspirations. Dreaming of inventing, the 44-year-old man made a two-tonne submarine with a red star painted on the cabin door. The sub can dive 10 meters below the water surface.

For the entrepreneurial Cantonese Zhang Qinwei, his dream of a "gold rush" in Dubai came true. In 12 years, Zhang expanded his business from a four-square meter shop to a wholesale mall of Chinese products.

As president of the Guangdong Chamber of Commerce in the United Arab Emirates, Zhang now dreams of helping more Chinese companies do businesses there.

NEW POWERHOUSE FOR WORLD DEVELOPMENT

China has maintained a high economic growth rate since 1978, when it launched the reform and opening-up policy. But after almost four decades, its economy has, as Chinese leaders put it, entered the "new normal", a phase featuring positive trends of stable growth, an optimized structure and enhanced quality.

Jim O'Neill, former chief economist of Goldman Sachs, said in an article published on the website of think-tank Bruegel in March that "China's 10-trillion-U.S.-dollar econonomy is bigger than those ofFrance,Germany, and Italy combined. Even if its annual output growth slows to 7 percent, the country will add some 700 billion U.S. dollars to global GDP this year."

Reform is the engine of China's economic miracle. Over the past three decades, China has been one of the most successful countries in piloting reforms, while the new round of reforms in China, launched at the end of 2013 after a key meeting of the ruling CPC, will add more momentum to the Chinese Dream.

The reforms have simplified administrative processes and reduced political interference in administrative examinations and approvals, leading to a surge in newly-registered enterprises in 2014 -- 3.65 million in number, up 46 percent year on year.

But how is China's strength in development influencing the world? Just look at the news from the past month.

China andRussiaagreed in May to integrate the former's Silk Road Economic Belt initiative with the latter's aspirations under the Eurasian Economic Union framework during Xi's visit to Russia.

Also in May, during Indian Prime MinisterNarendra Modi's visit to China, Chinese and Indian business leaders agreed to partnerships worth 22 billion U.S. dollars in areas including power, renewable energy, infrastructure and steel. Meanwhile, during a Latin America trip by Chinese PremierLi Keqiang, China, Brazil and Peru decided to conduct a feasibility study on a proposed transcontinental railway connecting Peru's Pacific coast with Brazil's Atlantic coast.

INNOVATIVE "MADE IN CHINA"

East Asia Forum editor Peter Drysdale said in an article published on the forum's website in February that "innovation is emerging as a game-changer in the Chinese economy", and "China is rapidly becoming a center of innovative opportunity", which is an "unremarked revolution in China".

Many young Chinese now dream of becoming the next Jack Ma, Alibaba Group's chairman, or Pony Ma, chairman of Tencent Inc., one of the largest Internet companies in China.

Gao Maoxiang, 28, is one of them. Gao developed a mobile application for diagnosing pets' illnesses. The app targets China's increasing number of middle-class families who often raise pets as companions.

Wang Tao is another. The 35-year-old established the Dajiang Innovations Technology Co. Ltd in 2006. In less than 10 years, the company has become the world's leading civilian drone maker, with a global market share of nearly 70 percent.

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