China's success in transforming itself into a "moderately prosperous society in all respects" has contributed to world peace and development, a white paper said.

The achievements have made the world's most populous country more prosperous, its people happier and its society more stable, said the report, entitled "China's Epic Journey from Poverty to Prosperity", that was released by the State Council Information Office on Tuesday.

The national GDP has grown by 9.2 percent each year since 1979, after China embraced market-oriented reforms a year earlier, compared with a global average of 2.7 percent during the same period, it said. 

China was also the first country to contain the COVID-19 outbreak, reopen its economy and achieve economic development, the white paper said.

Since 1978, China has managed to pull 770 million rural residents out of poverty in accordance with the World Bank's poverty threshold, representing 70 percent of global progress, it said.

China's success has boosted the "confidence and strength" of other peoples grappling with poverty, given that the global poverty reduction has been regressing in recent years.

The white paper said China will not close its doors in the face of spreading opposition to globalization — in fact, it will open such doors wider. China is offering bigger markets, better cooperation opportunities and greater development space to businesses from all over the world.

China's modernization — which features common prosperity, balanced material and cultural progress, harmonious coexistence between human and nature and peaceful development — will be shared by a huge population, it added.