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Grasp strategic opportunities in developing China

(Xinhua)

08:16, October 31, 2012

BEIJING - China has made remarkable progress in the first decade of the 21st century from its wisdom and measures to grasp strategic opportunities. Such efforts are needed for further development in the next 10 years.

China launched its first manned spacecraft Shenzhou-V in 2003, and less than 10 years later, the successful docking of the Shenzhou-IX and Tiangong-1 lab module marked a new height for the country's space exploration.

According to Zhou Jianping, chief designer of the manned space program, the success owed much to the country's independent innovation based on grasping opportunities of worldwide development of information and electronic technologies.

Likewise, the quick development and the rising international standing of the entire nation as well as the rapid improvement of people's livelihoods are results of efforts to grasp and utilize strategic opportunities.

During the past decade, China's GDP climbed from 12 trillion yuan ($1.9 trillion) to 47 trillion yuan in 2011 with an average annual growth rate of more than 10 percent, making the country the world's second largest economy.

Opportunities have been a result of a relatively favorable international environment where the Western countries' strategic deployment and show of strength were restrained after the September 11 attacks.

Long Guoqiang, a senior research fellow with the Development Research Center of the State Council, attributed the opportunities to China entering the World Trade Organization and the country's advantage of low labor costs.

With keen senses and flexible strategies, as well as the material accumulation and systematic preparation over the 30 years of reform and opening up, China has grasped opportunities and secured stunning development. This development, in turn, helped the country to deepen its understanding of the opportunities available.

Just as ancient Chinese philosophers put it, crisis and opportunities may be interconvertible. China has successfully turned the global financial crisis into a chance for the country to adjust its economic structure and transform the development pattern.

China's voice and presence in international society have also increased.

There was little surprise about this year's takeover bid of China National Offshore Oil Corporation (CNOOC) for Canada-based oil and gas producer Nexen Inc. It represented another case of Chinese enterprises "going global" in recent years.

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