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This new era will be an era of building on past successes to further advance our cause, and of continuing in a new historical context to strive for the success of socialism with Chinese characteristics. It will be an era of securing a decisive victory in building a moderately prosperous society in all respects, and of moving on to all-out efforts to build a great modern socialist country. It will be an era for the Chinese people of all ethnic groups to work together to create a better life for themselves and achieve common prosperity for everyone. It will be an era for all of us, the sons and daughters of the Chinese nation, to strive with one heart to realize the Chinese dream of national rejuvenation. It will be an era that sees China moving closer to the center stage and making greater contributions to mankind.

As the 2008 financial crisis unfurled with its impact on global trade and economy, China also saw a transition. The country’s high (even super high) speed growth, which peaked at 14.2% in 2007, slackened to medium-to-high growth, thus entering the new normal era of economic development. In response, international organizations such as the International Monetary Fund and the World Bank began to adjust downward projections of Chinese economic growth. In some international media, the prevailing sentiment toward China’s economic development was one of pessimism.

From now until 2050, China faces an important period of strategic opportunity in relation to its development. China has laid a solid foundation for innovation-driven development, and now has the greatest pool of human resources in the world. Given this unprecedented period of strategic opportunity, China is accelerating its efforts to develop a modern economic system and to build the world’s largest domestic market. Meanwhile, China is actively creating important strategic opportunities for the rest of the world, including Chinese markets, tourists, innovation, green energy initiatives, investment, development aid, plans for global governance, and peaceful diplomacy. All of these opportunities have, for the first time, created the conditions necessary for China to achieve its second centenary goal and build a community with a shared future for mankind.

Deepening the reform of medical and health system, greatly focused on by the Party Central Committee and the State Council, is an important part of comprehensively deepening reform and a major livelihood project of hearts and minds to safeguard the health and well-being of the people. After launching a new round of medical and health reform in 2009, and especially since the 18th national congress of the communist Party of China, deepening the medical reform has been put to a more important position in the overall cause of the Party and the state by means of the overall planning, comprehensive promotion, continuous improvement of the top-level design. A relatively perfect institutional framework has been established and the significant progress and mark results in deepening reform made.

With rapidly increased number of medical institutions and ward beds as well as expanded scale of medical institutions, great achievements have been made in the medical and health service systems during the 12th 5-Year Plan period. While strengthening the construction of the medical insurance system, government has also continuously enhanced the construction of the public medical care delivery systems by various means, both providing support to medical care delivery systems and satisfying people’s needs, which created a favorable funding environment for the development of the health system. The increased medical professionals were 960,000 during the period between 2007 and 2010, with an average annual growth of 240,000, and 1673,600 during the period between 2010 and 2015, with an average annual growth of 334,700. Public funding also soared to a greater height during the same period. Government payment as a share of total health increased by 129 billion yuan from 2004 to 2007, 315 billion yuan from 2007 to 2010 and 674.28 billion yuan from 2010 to 2015. The increased percentage was from 22.3% in 2007, to 28.7% in 2010 and 30.4% in 2015.

The first is the challenge brought about by continuous decline in economic growth. Correspondently social security revenue and financial support to social security will also shift from rapid rise to stable and limited growth. With increasing rise in the need for social security and rapid increase in medical cost, pressure on social security funds is increasingly tremendous which will challenge social security continuously. The second is the challenge intensified by increased aging population. Aging population and low birth rate will impose impact on both revenue and expenditure of the old-age insurance and the medical insurance, leading to lack of medical insurance funds and weakened security capacity on the one hand, rapid rise in the need for medical care and dramatic increase in the expenditure of medical insurance funds on the other hand, which will pose increasingly serious risks for the sustainable development of the medical security system. The third is the challenge caused by increasingly accelerated pace of urbanization. Urbanization will not only give rise to rapid increase in demands for social security, which imposes pressure on social security funds, but also demands unity of urban and rural social security. Urbanization, together with its growing mobility of the population, poses a new challenge for the management service of social security. The fourth is the challenge posed by the multiple methods of medical service delivery and the application of network information technology. Multiple medical service delivery methods and tremendous impact of Internet+ will greatly change the service delivery modes and organizational structure, which will have fundamental influence on the operation of medical institutions and medical service practice and present huge challenges for medical security management.

The “Outline for Strengthening International Exchanges and Cooperation” has made in-depth expositions on strengthening international exchanges and cooperation and actively participating in global health governance. It has clearly defined the key areas and mechanisms for promoting international exchanges and cooperation in the future and indicated that China will play a more active and constructive role in global health governance, and earnestly fulfill its international commitments and actively assume the responsibility of a big country. This is of great significance to creating a good international environment for building a healthy China, building a community of shared interests, a community of shared responsibilities and a community of shared destiny for human health, and promoting the global achievement of the 2030 health-related sustainable development goals.

The CPC central committee and the State Council have attached great importance to environmental protection by putting it in the main position and making it the main force of ecological civilization construction and the core content of building a beautiful China, realizing a sustainable development, introducing an overall plan for the reform of the ecological civilization system, implementing the action plan for the prevention and control of air, water and soil pollution, and vigorously strengthening environment and health work. In 2015, the average annual concentration of fine particulate matter (PM2.5) in 338 prefecture-level and above cities was 50 μg/m3; the proportion of the 1940 state-controlled sections of class I–III surface water increased to 66%; the proportion of worse V fell to 9.7%; the quality of the main streams in major rivers was obviously improved. The capacities of national desulfurization and denitrification units, accounting for the total installed capacity of coal power, increased to 99% and 92% respectively, which completed the ultra-low emission transformation of 160 million kilowatts of coal-fired power units. The comprehensive environment improvement in 72,000 villages has been implemented, directly benefiting more than 120 million rural people. A number of major ecological conservation and rehabilitation projects have been carried out steadily, including natural forest protection, returning farmland into forest and grass, and grazing land into grassland, shelter forest system construction, protection and restoration of lakes and wetlands, desertification control, water and soil conservation, desertification management, wildlife protection and nature reserve construction. Pollutant emissions of the five heavy metals of lead, mercury, cadmium, chromium and arsenic have fallen 27.7% since 2007, and the number of sudden environment incidents involving heavy metals has been greatly reduced. In order to solve the environmental problems that harm people’s health, the Environment Protection Law and the series of environmental management documents clearly put forward the requirements for strengthening environment and health management, which provide legal and policy basis for the establishment and the improvement of environment and health management systems, organization and the implementation of environment and health surveys, monitoring and risk assessment.

Health and longevity are not only the core objective of human development, but also the common wishes of people of all ethnic groups in our country. Healthy China is the China where the people can enjoy health and longevity and also the China where the people’s health and health service capacity have reached the world advanced level. From the following three dimensions—healthy life, quality of health and health capacity, Healthy China will provide the behavioral guidance and policy basis for individuals, families, health-related institutions, government departments and other entities to jointly construct a healthy China where people can enjoy health and longevity and where the economy and the society can carry each other.

In a report that was presented to the 19th Communist Party of China (CPC) National Congress in October 2017, General Secretary Xi Jinping, on behalf of the 18th CPC Central Committee, stated that socialism with Chinese characteristics had entered a new era. Xi said that the course, theory, system, and culture of socialism with Chinese characteristics would “extend the path of developing countries toward modernization, bring new choices to countries and nationalities that hope to accelerate development while retaining their independence, and contribute Chinese wisdom and programs to solving human problems” (from the report presented to the 19th CPC National Congress). That was the first time the CPC had made clear mention of the global impact of socialism with Chinese characteristics in a report to the National Congress. It was a profound acknowledgment of the importance of socialism with Chinese characteristics to all humanity, and it demonstrated the high level of confidence among Chinese communists.

Catching up with and surpassing America has been the “China’s dream” and “Great Power’s dream” proposed by Mao Zedong. In 1956, He for the first time proposed the assumption in the preliminary conference of the 8th National Congress of CPC to catch up and surpass America in fifty (by 2006) or sixty (by 2016) years. This is the “great strategy” of China. Among the numerous powers in present world, the only country which is qualified and capable is China.

“Zhou is an old country state, but its mission is reform” (Text comes from the Book of Songs·Elegance·King Wen). Chinese civilization is an ancient civilization with a long history; however, it also represents the rebirth of a new civilization (Webb wrote that, “a great nation will not change or become old because of the heavy burden of a brilliant history of thousands of years. As long as a nation has the ability and courage to maintain confidence in itself, and to retain its great instinct that it has possessed all along, the nation can be young forever”. Webb: Weber Political Writings, translated by Yan Kewen, p. 23, The Oriental Press, 2009). The Chinese nation is a historical giant, and has always been a giant in the world no matter whether she is standing tall or lying down, or whether she is prosperous or in decline (Song Jian: Spreading Science & Technology into People, Science & Technology Daily, February 3, 1990). The Chinese people have a great dream, which is to live a happier and more wonderful life. The People’s Republic of China has a great goal, which is socialist modernization with Chinese characteristics. The CPC shoulders a great historical mission, which is to realize the “Chinese dream” of the great rejuvenation of the Chinese nation.

We deem the National Congress of the Communist Party of China as a classic process of Chinese politics, i.e. a process of political democracy, a process of political consensus and a process of political unity. This is a complicated democratic procedure and democratic process from decentralized opinions to centralized opinions and to overall consensus gradually. The political election and change of state leadership lasts for one year and a half in four stages: the preparation period of the 18th National Congress of the Communist Party of China; conference of the 18th National Congress of the Communist Party of China; learning and implementation of spirits of the 18th National Congress of the Communist Party of China; the second Plenary Session of the 18th National Congress of the Communist Party of China and NPC & CPPCC.

Domestic visits (in Chinese 视察、考察、调研) are one of the commonest routine work for political leaders both in the democratic and authoritarian regimes. In this article, we argue that for central authorities, in addition to public presidency in democracy, those domestic visits are one of the most important way to regulate local government’s performance in authoritarian regimes. Based on 9 members of the Standing Committee of the Political Bureau of the CPC Central Committee domestic visits from 2009 to 2012 in China and a longitudinal survey of national level residents conducted by DRC（国务院发展研究中心）, we estimate those domestic visits’ impact on local government performance by using difference in difference method. And we have three main findings. Firstly, we find that for Jintao Hu, the General Secretary, his domestic visits could significantly promote residents’ evaluation of local government administrative efficiency, and after taking selection bias into consideration, this positive effect is still robust. Secondly, after adjustment of covariates balance, this positive effect is valid for all 9 members of the Standing Committee of the Political Bureau of the CPC Central Committee. Finally, we also find this positive effect only exists for one year, which means when the present incumbent of leaders lose power, those effects will disappear,and we define this phenomenon as Ren Zou Cha Liang Effect(人走茶凉). On the basic of our empirical findings, those state leaders’ domestic visits provide us new vision to recognize Chinese central-local relation. Be regarded as embedded formal institution, we argue that central authorities could use their visits to access to political stability and economic development.

The race between industrial robots and human, not only for the developed countries, but also for emerging market countries, especially China, is widely discussed among economists and policy makers. China, as the largest industrial nation, is struggling for structural transformation and industrial upgrading with the disappearance of demographic dividend. And the large scale application of industrial robot in China would influence employment and productivity undoubtedly in this time period. Based on China Employer-Employee Survey (CEES), which is a new longitudinal study of manufacturing firms and workers in China, we use propensity score matching method and machine learning method to estimate industrial robots' substitution effect on labor force in Chinese manufacturing enterprises. Our empirical results indicate that manufacturing enterprise's investment in industrial robots cause 12%-16% decline of employment in 2014 in Guangdong province, and this replacement effect is Heterogeneous among different type of labors where workers would suffer the greatest impact. Besides we also examine robot's effect on enterprise performance and worker wage. We find that for the enterprise performance, robot's investment can promote their productivity and profit, and for workers, robots could promote their wages. To the best of our knowledge, this paper is the first paper to provide empirical evidence of industrial robots’ impact on labor and enterprise performance in China,and our findings have several policy implications.Firstly, our findings may help scholars to reassess technology progress impact on Chinese labor market and industrial transformation. Secondly, for the policy makers, especially in the process of Made in China 2025, our research may remind them of the balance between efficiency and unemployment.

After the founding of New China, it was necessary to find an economic model that truly conformed to the basic national conditions and adapted to the various development stages. The relationship between the public ownership economy and the other economies had to be set. After 60 years of practice and repeated trial and error, a basic socialist economic system was created, with public ownership at the helm and diverse forms of ownership developing side by side. China’s basic economic system is unique in the world, and is a major string to the Party’s bow. Its advantages lie in giving full play to the respective advantages of diverse forms of ownership, and in fully mobilizing the creativity of each aspect. It is the world’s most dynamic and competitive economic system by far, but it has not been plain sailing.

As a huge country with a high population, a vast territory and imbalanced economic development across various regions, China has both the advantages and disadvantages of all large nations, particularly in terms of politics. This means that a careful balance between central and local relations is critical, especially under the governance of a single party. China deals with central-local relations using two initiatives, having learned that one initiative leads to improper handling. Mao Zedong believed that a combination of central and local initiatives was the key to success. In essence, this refers to the formation of a mechanism for incentive compatibility, through which each initiative can play its proper role, and national strength can be united to focus on state affairs.

On February 17, 2014, Xi Jinping delivered a speech (hereinafter referred to as the Speech) at the opening ceremony of a seminar at which provincial and ministerial-level leading cadres discussed the deepening of reform laid out in the Third Plenary Session of the Eighteenth Central Committee of the C.P.C.

On November 8, 2012, Hu Jintao issued a report at the 18th National Congress of the C.P.C. in which he emphasized the importance of the road ahead: ‘Forging an onward path is the lifeblood of the Party. It is the future and destiny of the nation, and is crucial to the wellbeing of the people.’

This article examines China's major development contributions, looking at its wider impact on world development. In particular, the article examines the impact of China's development on the changing pattern between the North and South and the human development index. The factors and related regimes behind these phenomena are discussed and a conceptual model is constructed, providing a meta‐analysis of the evolution of China's role, based on the structural interpretation of external impetus and barriers, as well as internal advantages and shortcomings. The authors' long‐term projections show that the rise of the South, led by China, will be the most important shift in the world's landscape with respect to the development of the emerging world, perhaps leading other large developing economies to play a more prominent role in international development in the future, bringing common development, common prosperity and common progress to the world.

Since ancient times in China there has been a unity of nature and humanity. Having respect for nature, protecting nature, and conforming to the laws of nature have long been mainstream elements of traditional Chinese culture. However, the agricultural civilization of China is actually dependent on the weather. With China’s expanding population, the ecological deficit in traditional agricultural production has increased. In this regard, the recent forest deficit has been the greatest in the 5000-year history of Chinese civilization. China has gone from being a richly forested nation to a poorly forested nation, with the level of forestation dropping to 8 % in 1948, the lowest in the nation’s history.

In China, the agricultural civilization is a loess civilization; industrial civilization is a black-and-brown civilization; and ecological civilization is a green civilization. Human development has always made the progression from positivity to negativity and then back to positivity; it has progressed from unity of nature and humanity to humanity conquering nature, and then back to harmony of humanity with nature.

Extant literatures discuss a firm's security issuance implications of heterogeneous beliefs with explicit assumption that short selling is forbidden. However, it is widely accepted that short sale constraints exist when investors are unable to short stock to the extent they desire. This paper presents a model to analyze how heterogeneous beliefs and short sale constraint conditions jointly affect a firm's security issuance decision. The main findings are: i) An increase in heterogeneity in investors' beliefs results in an increased likelihood of equity issuance over debt when public signal is favorable, whereas it results in a reduced likelihood when public signal is modestly adverse. ii) The tightness of short sale constraints has a positive effect on the likelihood of equity issuance only when public signal is highly favorable. These results indicate widely divergent conclusions about the relations between heterogeneous beliefs as well as short sale constraints and security issuance decision.

Corruption in transition economies has become the very focus of many recent discussions on politics and economics. However, the existing research has not taken full account of the experience of the gradual transition countries, especially China, and the incentives for rent creation in the transition process. Based on existing studies in this field, this paper addresses a new category of corruption in transition economies. In the context of the rent seeking theory, the authors examine what they regard as a unique type of corruption in China—administrative monopoly (AM), and outline its essence, causes, forms, features, the scale of the rent created, and the dissipation of the rent.

The creation of more jobs for China's massive labor force is the foremost economic development objective for the Chinese government. This paper analyzes the relations between economic growth and employment growth, between capital growth and employment growth, and between wage growth and employment growth in China. The solution to China's unemployment problem requires not only changes in China's macroeconomic and employment policies, but also a change in the priorities of the country's economic growth model from output growth toward employment growth. Moreover, it will be necessary to handle correctly the relations between labor-intensive industries and capital-intensive industries, balance the interests of laborers and the interests of capital, and support the expansion of domestic demand and the creation of employment opportunities.

The basis of human civilization has transformed from hunting to agriculture and then to modern industry; now a new ecological civilization, or green civilization, is needed. Although industrial civilization has achieved great things with “more massive and more colossal productive forces than…all preceding generations,” it has also adversely impacted nature more than all preceding generations, and the dissonance between humanity and nature is larger than ever. What is the biggest challenge for human development in the 21st century? We face unprecedented and serious natural crises, extreme climate change, unprecedented shortages of resources and energy, and continuing degradation of the global ecological environment. The question is one of survival as human development reaches a new crossroads: Which path will the world follow? What role will China play? The only correct answer is to resolutely develop an ecological civilization.

In the 91 years since its establishment, the Communist Party of China (CPC) has made innovative efforts as it developed the system of its central leadership—its core institution. The historical experience of the party boils down to one point: it constantly needs to adhere to and improve the collective leadership of the Central Committee of the CPC. As the largest governing party in the most populated country in the world, the CPC has to continue making efforts to improve its collective presidency with Chinese characteristics. Those Chinese characteristics are the basic attributes of this institution, and collective leadership is its fundamental feature.

This refers to the notion that knowledge and theory derive from practice and in turn they are put back into practice. As Mao Zedong stated, “Knowledge begins with practice. Theoretical knowledge is acquired through practice, and it must then be put back into practice. The active function of knowledge manifests itself not only in the active leap from perceptual to rational knowledge, but—and this is more important—it must manifest itself in the leap from rational knowledge to revolutionary practice.” Mao Zedong also said, “Generally speaking, those that succeed are correct and those that fail are incorrect.” Practice is a criterion not only for testing truth but also for fallacy.

The fundamental aim of China’s development is to improve the welfare of its population, providing not only a prosperous and decent life for all, but also higher levels of education, and a healthier and longer life.

Since the reform and opening up of China more than 30 years ago, the country has been actively involved in the world economy. China has become the biggest beneficiary of economic globalization and has rapidly grown to become the second largest trader (climbing from its original position of 29th place). China will soon overtake the United States to become the world’s No. 1 importer and exporter and the bellwether of economic integration and trade liberalization, playing a significant role in the global economic system.

Since the beginning of human civilization, “equality for all and common prosperity” has been either the utopian dream of philosophers and poets or the grandiose rhetoric of politicians. However, the reality is quite different: “Behind the vermilion gates of the rich, meat and wine go to waste, but along the road are bones of the poor who have frozen to death” (a Chinese proverb). It has always been the case that “some families are joyful and some sad.” There exists an insurmountable divide among mankind; this stems from family background, region, and social status, and it is true both now and in ancient times, in China and other countries.

The authors use a growth accounting framework to examine growth of the rapidly developing Chinese economy. Their findings support the view that, although feasible in the intermediate t erm, China’s recent pattern of extensive growth is not sustainable in the long run. The authors believe that China will be able to sustain a growth rate of 8 to 9 percent for an extended period if it moves from extensive to intensive growth. They next compare potential growth in China with historical developments in the United States and the European Union. They discuss the differences in production structure and level of development across the three economies that may explain the count ries’ varied intermediate-term growth prospects. Finally, the authors provide an analysis of “green” gross domestic product and the role of natural resources in China’s growth. (JEL L10, L96, O30)