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China gears up for 70th anniversary celebration

By Seddiq Hussainy

Beijing is meticulously gearing up to celebrate the 70th anniversary of the founding of People’s Republic of China on October 1st with a series of ongoing massive scale arrangements.

China has been fervent since weeks to marvel the world with a lavish celebration. The extravaganza happens only once in a decade to pay tribute to China’s extraordinary journey from war and poverty in 1950s to remarkable  economic boom in 20th century.

China is marking 70th anniversary of the Communist Party rule at a time as it is the second largest economy in the world in terms of purchasing power parity and continues to go to heights of economic growth.

In a press conference on the occasion of preparations for the grand celebration, China’s Minister of Finance Liu Kun, Governor of People’s Bank of China Yi Gang, and Vice Chairman of National Development and Reform Commission Ning Jizhe briefed the press on promoting stable, healthy and sustainable development of Chinese economy.

Minister of Finance Liu Kun spoke about the 70 years of profound changes in China’s fiscal policies that ushered in a new era of growth. About China’s fiscal strength, he reckoned that fiscal revenue rose to 18 trillion Yuan in 2018, an increase from 6 billion Yuan in 1950.

He mentioned that China had been paying enormous attention to people’s livelihood and development of urban and rural areas. “Chinese government allocated this year 1 trillion Yuan for education and 120 billion Yuan for poverty alleviation measures and billions and billions of funds for assisting people with financial difficulties and unemployment,” he reckoned.

Remunerating China’s drastic seven decade growth, Governor of People’s Bank of China Yi Gang said that the aggregate assets of banking sector amounted to 268 trillion Yuan in 2018.

Vice Chairman of National Development and Reform Commission Ning Jizhe said that the Chinese people have become wealthy as it is evident China’s GDP growth to 90 trillion Yuan in 2018 from 67 billion Yuan in 1952.

“We are building our nation stronger by strengthening development of manufacturing, science and technology, aerospace, network, transportation, trades culture, education, digitalization and smart society,” he said.

About urban development, Jizhe said that urbanization rate rose to 59 percent in 2018 from 10 percent in 1949. About agricultural development, he said that the overall power of agricultural machinery has grown from 100 megawatts to 1 billion kilowatts in the past seven decades.

Beijing government has also opened an exhibition with the theme of Great Journey and Outstanding Achievements. It features a tunnel touted as corridor of history that displays all historical events since 1949 to 2019 and depicts heroes and models contributing to China’s development.

The conference was attended by 52 journalists from Africa and Asia Pacific currently residing in Beijing under the internship of CIPCC.

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