BEIJING, May 4 (Xinhua) -- China's reform and opening up process, which began in 1978, was a crucial move to make China what it is today, and is therefore of vital importance to continuing to advance Chinese modernization, said a think tank report released Saturday in Paris.

The report, titled "Chinese Modernization: The Way Forward," was co-authored by New China Research, the think tank of Xinhua News Agency, and the Institute of Party History and Literature of the Communist Party of China (CPC) Central Committee, and is available in four languages including Chinese, English, French and Russian.

Since the launch of reform and opening up, the CPC has led the Chinese people in freeing their minds, seeking truth from facts, and boldly carrying out experiments and reforms, the report said.

By making timely adjustments to the relations of production that were not compatible with the development of the productive forces, China caught up with the times in great strides and opened up a vast new horizon, said the report.

China's ranking in the World Bank's Doing Business Report jumped nearly 50 places from 78th in 2018 to 31st in 2020, which put it among the top 10 economies that had made the greatest improvements in their business environments for two years in a row, according to the report.

The report said China will continue to pursue high-standard opening up and expand the level of opening up, remain committed to economic globalization, promote trade and investment liberalization and facilitation, and continue to create new opportunities for the world through its development.

Cultivating new quality productive forces stands as an intrinsic requirement and an important focus of building a modern socialist country in all respects through pursuing high-quality development, the report said.

Primarily driven by innovation, new quality productive forces break free from traditional economic growth modes and productivity development paths, feature high technology, efficiency and quality, and represent an advanced form of productivity aligned with the new development philosophy, according to the report.

Accelerating the development of new quality productive forces is a strategic decision made to seize the commanding heights in a new round of global scientific and technological revolution and industrial transformation, open up new areas and new arenas in development, cultivate fresh growth drivers, and build up nascent competitive advantages, said the report. Enditem

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