President Xi Jinping delivers his New Year address on Sunday in Beijing. (PHOTO / XINHUA)

President Xi Jinping’s New Year speech highlighted the development paths for China and the world, as well as Chinese modernization, while emphasizing core issues related to people’s livelihoods, well-being and economic growth, experts said.

“This is the most holistic and inspiring New Year Message I have ever seen from a world leader… It covers areas such as COVID-19 pandemic, international politics, economy, green energy and low-carbon lifestyles, innovation, Chinese modernization, and so on,” said Chin Yew Sin, a Malaysian businessman and political analyst.

China’s inclusive, holistic and sustainable development ideas as manifested by the BRI, the Global Development Initiative, and the Global Security Initiative all reflect a proactive approach to leverage both multilateral and bilateral channels for betterment of humanity

He said that President Xi has clearly outlined the current and future economic development models of China, which will be based on smart technologies, green technologies, space technologies, ocean technologies, etc.

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“China through its Belt and Road Initiative (BRI) has helped many developing countries in Asia, Africa and South America to construct infrastructure in their countries to speed up their development process,” Chin noted.

The world, particularly the Global South, expects China to maintain a leadership role on the international stage in 2024 and beyond, said Adhere Cavince, a scholar of international relations with a focus on China-Africa development cooperation.

“President Xi’s assertion that China would carry forward the banner of shared prosperity for humanity as well as play as stabilizer role in the backdrop of intense global geopolitics is not only refreshing, it rekindles hope for a better tomorrow for the world,” said the expert based in Nairobi, Kenya.

“As we close 2023, China is the largest trade partner for over 120 countries,” he noted. Cavince pointed out that in Africa, China is a leading source of foreign direct investment, and that Chinese companies have created jobs, and modernized Africa’s infrastructure. Also, Beijing remains a leading source of development financing for the majority of African economies.

He mentioned that China is building the fastest growing middle class in the world. China’s inclusive, holistic and sustainable development ideas as manifested by the BRI, the Global Development Initiative, and the Global Security Initiative all reflect a proactive approach to leverage both multilateral and bilateral channels for betterment of humanity, he also said.

“With a world increasingly pushed into political hostilities and economic uncertainties, China’s stabilizing role is imperative,” Cavince said, adding that Beijing is a guarantor of world peace and economic rejuvenation.  

Shakeel Ahmad Ramay, chief executive officer of the Asian Institute of Eco-civilization Research and Development, a think tank based in Islamabad, Pakistan, said the speech shows that Beijing’s commitment to the Chinese style of modernization is getting stronger. 

“Modernization driven by innovation is turning China into a new hub of innovation and technology,” he noted. “It has started to deliver results like C919 (large passenger aircraft), space advancements, new energy sources, new energy vehicles, and technological revolution.”

President Xi assures the world that China is ready to share prosperity with the world by deepening reforms and opening up, promoting peace and harmony among civilizations, and implementing a fair and just global system to achieve the goal of a community with a shared future for present and future generations

China is now more focused on cultivating talent to lead the modernization drive, he added.

The country is not only celebrating achievements but keeping a keen eye on the future of the nation by focusing on kids’ education, jobs for youth, and innovation-driven development. 

Moreover, President Xi assures the world that China is ready to share prosperity with the world by deepening reforms and opening up, promoting peace and harmony among civilizations, and implementing a fair and just global system to achieve the goal of a community with a shared future for present and future generations, Ahmad said.

Noting that Xi, in his speech, mentioned the problems faced by businesses amid a tough operating environment, and issues such as employment and livelihoods, Henry Chan, visiting senior research fellow at the Cambodian Institute for Cooperation and Peace, said this bodes well for solving economic and social problems in 2024. 

“The idea of people-centric focus in 2024 permeates throughout the speech, and seeking social harmony can ease concerns of over-ideological focus in policy formulation and implementation,” said Chan, noting it was an “unusually warm” speech that touched the ground. 

Chan said Xi’s speech focused on domestic economic challenges and avoided mentioning global hotspots. 

“This year, I think the Chinese policy will be very focused domestically,” said Chan. “Xi just mentioned that China has fulfilled its responsibility as a major country. That’s a very simple phrasing of what China intends to do to the world.”

Dicky Budiman, a public health researcher at Griffith University in Queensland, Australia, is impressed that Xi mentioned in his New Year speech the issue of medical services and elderly care. 

“This is an issue that not only concerns China but also has influence around the globe including many Asian countries that will also face this elderly challenge,” he said.

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The expert said that it is a key issue because an aging society means new challenges in relation to healthcare and social security. 

“If we don't deal with this appropriately, it will become another serious social problem,” he said. “So this (focus) on the elderly is crucial not only for China but also for many (other) nations.”

Mehmood Ul Hassan Khan, executive director of the Center for South and International Studies in Islamabad, said Xi’s speech was futuristic, sending a message of advancing Chinese modernization through implementation of a new development philosophy on all fronts, and speeding up building of the new development paradigm, to promote high-quality development, and safeguard security.

Contact the reporters at vivienxu@chinadailyapac.com