China's economic and political development has entered a critical period and during the course of the next 10 years, the country must realize the concept of common interest, take advantage of the relatively stable international environment, complete the process of industrial upgrading and solve problems related to urbanization.

As long as the Chinese government can maintain social stability, follow the people-oriented principle, strictly control corruption and make economic development its priority, China is expected to achieve national rejuvenation by the middle of this century.

If China can realize an annual economic growth rate of 7.3 percent over the next 30 years, the country's per-capita income will catch up with that of the developed countries in 2049, when the People's Republic of China will celebrate its 100th anniversary.

By then, those in political, academic circles -- and wider society in general -- will fully recognize China's system and path, which differ from the Western model. At this point, the West will have more respect for China's system.

Over the course of the next decade, China must ensure effective management in three key areas to make sure that development stays on track.

Ensure economic development

Some have argued that China's economy is now close to saturation point, however I do not subscribe to this point of view. China's per-capita GDP current stands at only a few thousand U.S. dollars, so there is surely plenty of scope for the Chinese economy to continue on its fast development track. China's economic growth is currently slowing due to insufficient technology upgrading, a sluggish global economy and the rising cost of labor and raw materials. In spite of this, investment in infrastructure is still an effective way to maintain economic growth and avoid becoming caught in the middle-income trap.

Control corruption

This is another crucial area which flourishes due to a lack of confidence in China's political system, which many officials cite as an excuse for their corruption. It is important that we strengthen the rule of law, enforce the Party's disciplinary code, ensure that there is no blurring of the lines over personnel assignments, and allow public supervision.

Build core values

It is clear to me that the "great family of the Chinese nation" is China's core value as well as the very foundation of our country. If officials lose sight of their responsibility to the "great family," the country will lose both its credibility and all hope of ensuring a society based on common interest.

In addition to these central tasks, we must complete the industrial transformation from manufacturing industry to service industry and slow down the rapid urbanization process to tackle the problem of labor shortages.

It bodes well that China's international footing is stable and this is reflected in the fact that its relations with the U.S., Europe and Russia are better now than they have ever been. This gives us the time and space to look inward so that we can tackle our domestic issues. If we can do so successfully, we can all anticipate a more prosperous future.

The author is a professor from the Department of International Politics, Peking University.

This article was translated by Xu Lin. The original unabridged version was published in Chinese.

Opinion articles reflect the views of the authors, not necessarily those of China.org.cn.

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