As it looks forward to reforms for a new era of sustainable development in a changing world, China can look back at a transformation that has seen it rise from low-income to upper-middle-income status in just over four decades. This extraordinary achievement is the result of sequential and structured reforms across those decades. Each set of reforms was tailored to the next phase of China’s development, taking into account lessons from the experience of earlier phases, current and likely future circumstances, including in relation to technologies and the world economy, and any adjustment of goals.

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