The Chinese path to modernization is of vital significance to both China and the world as it contributes to common development and tackling challenges, scholars said.

They made the observation on Tuesday at a symposium delving into the report delivered at the just concluded 20th National Congress of the Communist Party of China.

Scholars quoted the report as saying that on the path to modernization; China pursues peaceful development and contributes its share to world peace and development through its own growth.

Fan Jishe, a senior fellow at the Institute for International Strategic Studies of Party School of the Central Committee of the CPC, said "China wants to be a responsible country, a predictable player and also a stabilizing force."

"If anyone wants to have a better understanding of our Party, our country and our policy, it's very important to refer to the report," Fan stressed.

He said growing deficit in peace, development, security, and governance is posing unprecedented challenges for human society yet China's position is clear and its policy is consistent.

China stays committed to its foreign policy goals of upholding world peace and promoting common development and is dedicated to promoting a human community with a shared future, he added.

"Every country has the right to independently choose their own development path," he said.

Fan said internally China has achieved the dual miracle of rapid economic development and long-term social stability while externally it contributed to addressing regional security challenges and responding to global issues such as the pandemic and climate change.

"A powerful China only makes it more capable of delivering more to the international community," said Fan, who dismissed perceptions that a rising and powerful China was a threatening and destabilizing force.

Fan also expressed concern to the China-US relations under various strains, saying the US' China policy, driven by irrational Sinophobia, tried to use competition and even confrontation to define the overall picture of China-US ties, and ideologize China-related issues.

The US National Security Strategy issued in October designated China as the most pressing challenge, noting Washington would effectively compete with Beijing. A sweeping set of chip export controls was widely considered as the latest US measure to contain and suppress China.

Fan criticized that the US is contradicted in its words and deeds in dealing with China, urging Washington to address disputes and find the right way to stabilize ties with Beijing.

In another development, Cao Li, deputy director of the Economics Department of the Party School said China strives to create new opportunities for the world with its own development.

"China endeavors to build a new development paradigm of "dual circulation", which allows the domestic and overseas market to reinforce each other with the domestic market as the mainstay," Cao said.

She stressed that the circulation was not a closed one and China's door is wide open to the outside world.