GUANGZHOU, China, Dec. 5, 2024 /PRNewswire/ -- The 2024 Understanding China Conference opened on December 3 in Guangzhou, bringing together global leaders, scholars, and industry experts to discuss the theme "Carry Through the Reform to the End: Chinese Modernization and New Opportunities for World Development." Among the event's highlights was an address by Zheng Bijian, the 93-year-old founding chairman of the China Institute for Innovation and Development Strategy. His remarks captivated the audience and underscored the importance of understanding China's modernization journey.

As Zheng approached the stage in a wheelchair, the audience responded with warm applause, honoring his lifelong dedication to bridging China's story with the world.

Zheng outlined three pillars critical to understanding China's development. First, he stressed that grasping China's reforms is essential to understanding its past, present, and future. Second, he described Chinese modernization as the blueprint for comprehensive reform. Lastly, he highlighted how Chinese modernization offers new opportunities for global development, urging the international community to view these changes as mutually beneficial.

"The best way to grasp China's new round of reform and development," he said, "is to closely follow the path of Chinese modernization."

Zheng also emphasized openness as a defining feature of Chinese modernization. Addressing concerns about global decoupling and supply chain disruptions, he stated, "China will never pursue closed, self-contained modernization. On the contrary, we value openness and will actively align with international economic and trade standards, deepen reforms in trade and investment, and create a world-class, market-oriented business environment."

He pointed to key policies reflecting this commitment, including lifting foreign capital restrictions in financial services, eliminating manufacturing investment limits, and expanding visa-free travel to 38 countries. A 72- to 144-hour transit visa exemption for 54 nations further underscores efforts to enhance global engagement.

Zheng concluded by reaffirming China's readiness to welcome international participation in its modernization journey. "China's reform and development represent opportunities for all nations," he said. "This openness is why the international community recognizes the strength of China's reforms and the resilience of its economy."

About the 2024 Understanding China Conference
The 2024 Understanding China Conference is a premier international platform co-organized by the China Institute for Innovation and Development Strategy, the Chinese People's Institute of Foreign Affairs, and the People's Government of Guangdong Province. It seeks to deepen global understanding of China's modernization efforts, reform strategies, and their broader global implications.

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