Since the founding of the People’s Republic of China (PRC) 70 years ago, China has maintained sound social security and stability while developing into the world’s second largest economy, receiving high appraisal from the international community. There are many reasons for such long-term social security and stability of China, and the country’s efforts to guarantee and improve people’s livelihood are a major contributor.

BEIJING, Oct. 14 (Xinhua) -- Around the time the People's Republic of China (PRC) celebrated the 70th anniversary of its founding, congratulatory messages poured in from leaders of foreign countries and international organizations in a show of the world's best wishes.

(Photo/Xinhua) In the eyes of some Western observers, the Lunar New Year figures indicate a plunge in the Chinese economy, as factories have suspended operations and shops closed during the seven-day National Holiday. Some doomsayers even call such scenarios the "Chinese economic crisis".

A huge portrait of Xi Jinping is displayed in the National Day mass pageantry celebrating the 70th founding anniversary of the People's Republic of China (PRC) in Beijing, capital of China, Oct. 1, 2019.

The People's Republic of China (PRC) on Tuesday, October 1, celebrated its 70th anniversary since the founding of the People’s Republic. Chinese President Xi Jinping led millions of fellow citizens in honoring Mao Zedong — the first chairman of the ruling Communist Party of China (CPC) — and others who sacrificed their lives during China's long struggle for liberation.