STATE ownership of land is one of the catalysts for development as proven by China’s modern advancement.
In China, all land is owned by the state and this land ownership has attracted investment, resulting in its development into the world’s second largest economy.
The Vice President of the Academy of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, Director of International Affairs and Director of Center of European Studies at the Remin University of China and Jean Monnet Chair, Professor Dr Wang Yiwei highlighted that the state ownership of all land in China has attracted investments and its modern advancement.
He was lecturing a group of international journalists who are in China for a three-month study tour on the subject of ‘Chinese Modernisation and Its Global Significance’ in Beijing on Monday.
“State ownership of land is crucial as it allows development to proceed unimpeded,” Dr Wang underscored.
Further to state ownership of land, Dr Wang attributed China’s successful modernisation to its Chinese Characteristics-based form of socialism which embraces peaceful dialogue and mutual learning between civilisations, building a solid foundation for national unity and civil trust in the state.
Another factor Dr Wang pointed to as an attributing factor behind China’s successful transition to modernity is political stability.
He said in China there is only one government and hence government policies remain consistent, guaranteeing development coherence and maintaining the people’s trust in the state, unlike in the United States of America where the change of government results in policy changes and inconsistencies, eroding the trust of the people in their government.
In a nutshell, Dr Wang said Chinese modernisation is focussed on ensuring shared global prosperity as demonstrated by its development initiatives such as the Belt and Road Initiative (BRI), adding China believes when there is global prosperity, it will be able to sell its products and thereby maintain the cycle of prosperity.
By DELI-SHARON OSO
in Beijing, China
