Nation shifting its focus toward building a prosperous society through innovation

China is moving closer to its goal of building an all-round moderately prosperous society by 2020, inspired by the Chinese Dream of the great rejuvenation of the country.

Tuesday marked the fourth anniversary of the birth of the Chinese Dream, with remarkable progress having been made in State governance, reform and development, as well as domestic and foreign affairs, under the leadership of the Communist Party of China Central Committee with President Xi Jinping at the core.

Economic momentum

The Chinese economy has demonstrated great stability and resilience, providing a solid foundation for the country's drive to complete the building of an all-round moderately prosperous society by 2020.

China's GDP grew 6.7 percent year-on-year in the first three quarters this year; China's producer price index ended a 54-month straight decline in September; and the country has also seen rising figures in investment, industrial output and corporate revenue.

Growth in emerging and high-tech industries has accelerated, with the country seeing an average of nearly 15,000 new enterprises registered each day.

The added value of the tertiary sector accounted for 52.8 percent of the country's GDP in the first nine months of this year, up 1.6 percentage points year-on-year, while energy consumption per unit of GDP fell by 5.2 percent.

This year, the central and provincial governments earmarked a record high of more than 100 billion yuan ($14.5 billion) for poverty relief.

Road map for growth

Concepts such as the Four Comprehensives and the Five Major Development Concepts have driven growth and improved people's well-being.

"These concepts have become increasingly well-developed, practical and widely supported," said Xin Ming, a professor with the Party School of the CPC Central Committee.

Comprehensively deepening reform is a driving force to achieve the objectives of the 13th Five-Year Plan (2016-20) and beyond. Completely implementing the rule of law will bring equality and justice to the people.

Since the 18th National Congress of the CPC in late 2012, the CPC Central Committee, with Xi at the core, has striven to mold more than 80 million Party members into role models and pioneers. Governing the Party strictly provides a fundamental principle for realizing the Chinese Dream.

At the Fifth Plenary Session of the 18th CPC Central Committee last year, the central authorities proposed five development concepts: innovation, coordination, green development, opening-up and sharing.

One year on, these concepts have become voluntary practices for central departments, localities, enterprises and individuals.

According to the Shenzhen Stock Exchange, 546 companies on the exchange with innovation at their core increased net profits 44.3 percent year-on-year in the first nine months of this year, significantly higher than the average profit growth of other Chinese enterprises.