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China's economic development has brought about major accomplishments that have changed the mindset of the masses and instilled in them the confidence to carve out their own destiny. Achievements include the espousal of universal education, female participation in the workforce, organized employment of the population, and a corruption-free society based on honesty and integrity.
China's foreign exchange reserves in September rose to their highest level so far this year to reach .11 trillion, marking growth for the eight straight month, as capital outflows eased thanks to the stronger renminbi, central bank data showed on Monday.
China's corporate debt-to-GDP ratio is high. The ratio went up in part because of the 4 trillion yuan stimulus package announced in 2008. At that time, the money for infrastructure projects was primarily raised by local government financing vehicles, for the central government did not want to see an excessively rapid increase in the deficit-to-GDP ratio.
China's inbound tourism market has emerged from the downturn after the global financial crisis and increased continuously in the past few years, China National Tourism Administration (CNTA) said in a statement.
China's great achievements in socialism with Chinese characteristics do not only mean that socialism has gained strong vitality in China, but has also expanded the pathway to modernization for developing countries around the world, said President Xi Jinping, also general secretary of the CPC Central Committee and chairman of the Central Military Commission.