On October 1, 2024, it will be 75 years since the founding of the People’s Republic of China (PRC), and it is three-quarters of a century that China has revealed to the world one of the most impressive stories of the transformation of a nation.
Historical context and crossroads of a country
In 1949, after decades of foreign occupation, civil war, and political instability, the founding of the People’s Republic of China (PRC) was proclaimed. It was a moment of deep significance for a nation that had been occupied by foreign powers from the mid-19th to the early 20th century. For a long time, China had been weakened by a combination of internal division and foreign exploitation, from the Opium Wars to colonization.
Economic miracle and social transformation
China’s economic growth in recent years has been astonishing. Today, China is the second largest economy in the world and the success of its economic model lies in its unique blend of state control and market-driven initiatives. Over 75 years, China’s GDP has grown from 67.9 billion yuan ($9.67 billion) in 1952 to 126 trillion yuan in 2023, accounting for approximately 17% of the global economy. Its national economic output has grown 223 times and its per capita GDP has risen from 119 yuan in 1952 to over 89,000 yuan last year.
China and the world
the Chinese civilization is characterized by its unique continuity and openness. Since ancient times, China has upheld the principles of valuing harmony and coexistence and has consistently pursued diplomatic engagement and trade instead of aggression and expansion.
China’s leadership
The three-quarter-century-old PRC cannot be conceived without the leadership embodied in the CPC. As stated in a CPP document from a few years ago, “The most suitable system for a country is determined by its history, traditions, and realities.”
