Author: China Report ASEAN

I first came to China in January 1989 upon an invitation from Song Jian, then State Councilor and Minister of the State Science and Technology Commission. I was part of a delegation of American investment bankers invited to advise Chinese research institutes on their fledgling efforts to reform and adapt to the incipient market economy.

Former Chinese leader Deng Xiaoping was known as the chief architect of China’s reform and opening-up drive, and his inspection tour of southern China in 1992 ushered in a new chapter of history characterized by “three sustainables”: sustainable economic development, sustainable social stability, and sustainable institutional support and leadership. Fundamentally, the “three sustainables” deftly balanced relationships among economic, social, and political entities. Enterprises represent economic entities, the people are the social entity, and the CPC is the political entity.

A full century has passed since the Communist Party of China (CPC) was founded in 1921. After 100 years of vigorous growth, the CPC has become the world’s biggest ruling party that has governed the world’s largest socialist country for more than 70 years and owns more than 91 million members. The CPC has led the Chinese nation to make a great leap from standing up to growing rich and becoming strong, creating a “Miracle of the East” that has attracted worldwide attention.