Moderately prosperous China brings opportunities to world economy

BEIJING, Nov. 23 (Xinhua) -- The just-concluded 18th Communist Party of China (CPC) national congress has promised to build China into a moderately prosperous society by 2020.

The ambitious goal, if put in place, would create a golden opportunity for entrepreneurs and investors worldwide.

For 30 years, China has been steadfast in turning itself from an economically isolated country into a market-oriented and open economy, and has made rather laudable achievements.

China has become the world's second-largest economy, the biggest manufacturer and exporter, and the owner of the world's largest foreign exchange reserves.

As the world's major economies are still struggling to find a way out in the labyrinth of debts and fiscal puzzles, China has still managed to stay as an important engine to boost regional and world economic growth.

Moreover, once China completes its task of further expanding its economy, the consuming power of its 1.3 billion population will be substantially elevated.

In a keynote speech at the 18th CPC National Congress, Hu Jintao said by 2020, China will double its 2010 GDP and per capita income for both of the country's urban and rural residents.

It is the first time that China has specially detailed its objective on per capita income in the country's blueprint for future development.

And the emphasis on raising the income of average Chinese people in China's roadmap to prosperity is in line with the country's commitment to shifting its growth module to a more consumption-driven pattern.

As a result, some 600 million Chinese will join the rank of the middle-class by 2020, as was predicted earlier November by China Institute for Reform and Development, a government think tank.