As the fallout of the COVID-19 pandemic hit hard the global economy, China is expected to play its role as a key engine to rekindle global growth in the future. The country has unveiled proposals for formulating the 14th Five-Year Plan (2021-2025) for National Economic and Social Development and the Long-Range Objectives Through the Year 2035, which puts more emphasis on innovation, domestic demand and the quality of development. The Understanding China Conference 2020 commenced on Friday in Guangzhou, south China's Guangdong Province, facilitating multi-faceted and in-depth discussions to enhance mutual understanding between China and the rest of the world. As many observers agreed, China's new development paradigm embodied by the plan will offer more development opportunities and bring shared prosperity to the world.
