China's democracy is the people's democracy, with the people being the masters of the country. And the purpose of China's economic development is to serve the people.

After the founding of the People's Republic of China, when the Chinese people became the masters of the country, they showed great enthusiasm and initiative, establishing within decades an independent and relatively complete industrial system and national economic system, which helped to improve the livelihoods of the Chinese people.

After the country launched its reform and opening-up policies in the late 1970s, the country made economic construction a central task, and people's ability, potential and creativity was given full play. China's economy entered a stage of rapid development, and the people's life quality quickly improved.

Since 2012, the country has adhered to a people-centered development concept, and pursued high-quality development to meet the needs of the people for a better life.

The driving force of China's economic development lies in the people. China's democracy is rooted in the people and benefits them, and the people's aspirations are reflected everywhere in national socioeconomic development, the fruits of which are shared by the people.

At present, China has built the world's largest social security system, covering more than 1.3 billion people with basic medical insurance, and more than 1 billion people are covered by the basic pension system.

Abject rural poverty has been eliminated, and a moderately prosperous society in all respects has been built nationwide. Now the country is striving to realize the goal of common prosperity.

The Chinese people have growing senses of gain, happiness and security; their rights to subsistence, development and health are fully protected.

The people are the creators of economic and social wealth. More than 150 million market players across the country operate independently, manage themselves, and display their vitality, which has promoted the steady growth of China's total economic volume, national financial strength, and social wealth.

From major national policies to corporate development and governance, the people's expectations and expectations are reflected everywhere. China truly regards development as being for the people, this is where the strength of Chinese democracy lies.

ECONOMIC DAILY