With China's economy exceeding the US$10 trillion and its population 1.3 billion, a moderate growth rate with higher quality of life will become the new normal, something the society should adapt to. Current globalization, the history of the United States' economic transformation, and China's own transformation practice are all evidence that China has already entered the phase for a full-scale transformation supported by comprehensive reforms.

The economic and social interdependence between countries has expanded to the global scale, with the cause-and-effect relationship becoming increasingly complicated. Throughout the past two centuries' industrialization, humans both conquered nature and destroyed it; development of productivity has benefitted humans but at the same time brought about pollution, global warming, and ecological deterioration. The second industrial revolution, which started in the 19th Century, was characterized by standardized machine production, leading to the formation of industrial clusters and prospering cities. But these days, as science and technology continues to develop, especially Internet usage, production has become differentiated, life styles have become diversified, and communication has become virtual. Through these means, the use of natural resources becomes sustainable, pushing human society into a new round of full-scale transformation.

Although China has risen to become the world's second largest economy, it is still not an economic power concerning its position in the international business structure and its technological capacity. In 2014, China's GDP stood at US$10.36 trillion, accounting for 13.3 percent of the global economy. But in that same year, China's per-capita GDP was US$7,549, only 70.28 percent of the world's average. China still has more than 70 million people living below the poverty line. China should accept the necessity of undergoing the fundamental transformation from an economy only big in size to one big in competence.

On the front of scientific advancement, the world's average expenditure in 2013 on education accounted for 4.9 percent of GDP; for high-income countries, the average was 5.2 percent and for medium-income ones 4.8, but the figure for China was merely 3.5 percent. In 2011, there were 3601.8researchers out of every one million people in high-income countries, but only 963.2 in China. Evidently, in this new stage of development, catching up with developed countries calls for larger investment in education and technology for China.

Culturally, a big global power should pursue not only the economy, but also knowledge, morality, responsibility, education, sacrifice, courage, honor, and trust. These values should be embodied in a country's citizens, particularly in daily conduct, but also in a government's handling of international affairs. A responsible country must smooth out social inequality to create a fair society.

To sum up, hopes outweigh difficulties as China moves forward.

The author is a professor at the National Academy of Administration of China.

The article was translated by Chen Boyuan. Its unabridged version was published in Chinese.

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