Some enlightenment from China's economic development since reform, opening up

After 40 years of rapid development, China has created an economic miracle out of poverty and prosperity

China was once one of the poorest countries in the world. In 1978, China's per capita GDP was only US$156, and 80% of Chinese people lived in rural areas.

In 1981, 84% of Chinese people lived below the international poverty line of US $1.25 a day. In 1982, Pakistan’s per capita GDP was US $240, while China’s per capita GDP was only US $190.

However, since the reform and opening up, after 40 years of rapid development, China's per capita GDP in 2019 has exceeded $ 10,000. China has created an economic miracle out of poverty and prosperity.

China's development experience proves that poverty is not the fate of developing countries, and poverty is not terrible. As long as there is a strong and powerful leadership collective, choose a good development path for national development, mobilize the enthusiasm and creativity of the people in economic construction throughout the country, and poverty and backwardness, it will definitely get rid of it, and the country will become rich and strong.

‘China plans to invest $1b in development projects in Pakistan’

This is the first revelation brought by China's development. For developing countries, eradicating poverty and improving people's living standards are top priorities. The population of developing countries is concentrated in rural areas.

In the past, 80% of people in China lived in rural areas. Today, 70% of people in Pakistan still live in rural areas. In developing countries, the poor are mainly concentrated in rural areas. Therefore, to get rid of poverty in developing countries, rural changes must be implemented.

Agriculture is the leading sector of the economy of developing countries. In addition to providing and satisfying people's food needs, agriculture can also provide raw materials for the secondary industry and make market contributions to economic growth.

Agriculture plays an active role in the overall economic growth through production and consumption. Higher productivity in agriculture can increase the income of the rural population, and the increase in net agricultural income is a driving factor for industrialisation because agriculture can provide modern sectors market.

China's reform and opening up began in the rural areas. The reform and development in rural areas have laid a solid foundation for China's economic development. Getting rid of poverty and achieving development needs to start with the promotion of agricultural modernisation.

This is the second revelation brought by China's development. To develop the economy, get rid of poverty, and achieve national development, it is not enough to develop agriculture alone. It is also necessary to further promote the country's industrial development.

Since China's reform and opening up, agriculture has developed rapidly, farmers' lives have continued to improve, and agricultural products have greatly enriched and entered the market. At the same time, the rural population has continued to enter cities and enter the modern industrial system. It has made a significant contribution. After the first stage of development, the China-Pakistan Economic Corridor has entered the stage of industrial cooperation and industrial park construction. Actively promoting China-Pakistan industrial cooperation will inevitably promote the process of Pakistan's industrial modernisation and is the track of Pakistan's economic development entering a rapid development track.

Since 1978, China has been able to develop, an important experience is to promote industrialisation and urbanisation on the basis of rural reform, and vigorously develop modern service industries. This is the third revelation brought by China's development.

Looking forward to a new chapter of China-Pakistan friendship

Adjusting the relationship between the government and the market has always been accompanied by the process of the transformation of government functions in China. In the past 40 years, the government has gradually rationalised its relationship with the market and enterprises in the process of changing its functions. It has changed from direct intervention in the micro-economy to macro-management.

Power is resolutely handed over to markets and enterprises, and government functions are promoted to serve market players and create a good development environment. Here, it is particularly emphasised that officials of government departments must go out of the office, go deep into the countryside, factories and enterprises, understand the problems and difficulties faced by farmers and entrepreneurs help them solve problems, eliminate difficulties, and plan development. However, giving play to the market and respecting the autonomy of enterprises does not mean that the government's functions are weakened.

On the contrary, the government must strengthen market supervision, especially during and after the event, to ensure the orderly and healthy development of the market economy. This is the fourth revelation brought about by China's development.