China has brought about a historic resolution of the problem of absolute poverty and realized its first centenary goal -- building a moderately prosperous society in all respects.

The achievements mark a key milestone for the world's most populous country on its journey toward national rejuvenation.

Observers say the elimination of absolute poverty under the leadership of the Communist Party of China (CPC) is not only of great significance for China's own development, but also a powerful boost to inclusive development across the globe.

In many parts of the world, the development gap is increasing. Global extreme poverty grew in 2020 for the first time in over 20 years as the disruption by the COVID-19 pandemic compounds the forces of conflicts and climate change, which were already slowing poverty reduction progress. Reducing poverty and promoting inclusive development have become an increasingly urgent task for all countries.

The CPC stressed that no one should be left behind on the path to a moderately prosperous society. In the past eight years, China focused on areas of extreme poverty, and lifted the final 98.99 million impoverished rural residents out of poverty by the end of 2020.

Christine Bierre, an expert at the Schiller France Institute, said China's achievement of eradicating absolute poverty is a "real miracle."

"Now the achievement of China's poverty alleviation is vast, and it's something that the outside world needs to give China credit for," said Kerry Brown, a professor of Chinese studies at King's College, London.

China has been a key contributor to the global improvement in literacy levels, fall in malnutrition and poverty levels, improvement in access to clean water, and the general elevation of basic human wellbeing, he added.

China is home to nearly one fifth of the world's population. Its complete eradication of extreme poverty -- the first target of the UN 2030 Agenda for Sustainable Development -- 10 years ahead of schedule is a milestone in the history of the Chinese nation and the history of humankind, making an important contribution to the cause of global poverty alleviation.

As China fights poverty at home, its experience in poverty alleviation and inclusive development has become a source of inspirations for developing countries worldwide.

In recent years, the "China-style" poverty reduction experience has grabbed global attention, such as targeted poverty alleviation and rural e-commerce, which, according to the World Bank, shows the power of digital technology in helping with poverty reduction and inclusive development.

"In the poverty alleviation front, China set up special poverty alleviation agencies, poverty standards identified and implementation targets codified," said Cavince Adhere, a Kenya-based international relations scholar.

"This facilitated effective monitoring and evaluation of progress made leading to the defeat of extreme poverty on target, even when China was battling the COVID-19 pandemic," he said.

The global significance of China's poverty alleviation lies in the fact that the country has provided the world with practical and feasible poverty reduction strategies and solutions, said B. R. Deepak, Indian sinologist and professor of New Delhi-based Jawaharlal Nehru University.

"China has been instrumental in building capacities in developing and least developed countries by sharing its experience, providing funding and contributing to growth and sustainable development," Deepak told Xinhua.

The eradication of absolute poverty in China also demonstrates the concept of inclusive development.

According to Romina Sudak, a researcher with the China-Argentina Research Group at the National University of Rosario in Argentina, China's building of a moderately prosperous society in all respects reflects the idea that no one will be left behind in the fight against poverty.

Francis Semwaza, a social affairs analyst based in Tanzania's commercial capital Dar es Salaam, said China's achievements in ending absolute poverty and establishing a moderately prosperous society in all respects reflect the CPC's purpose of serving the people wholeheartedly and that the goal of China's poverty alleviation has always been serving the people.

"China's building of a moderately prosperous society in all respects fully demonstrates that the nation is composed of people, and people are all that matter to the nation," said Bambang Suryonochairman of Indonesia's Asia Innovation Study Center. "The world can clearly see that China is pursuing inclusive development."