Chinese modernization has broad applicability, especially for developing countries, Irina Kokushkina, associate professor at the Department of World Economy at St. Petersburg State University, has said.
She said China's development is based on the ideals of high-quality development and common prosperity, adding that billions of dollars have been invested in projects to reduce poverty and improve Chinese people's living standards.
Chinese modernization, according to Beijing, has five unique features. It is the modernization of a huge population, of common prosperity for all, of material and cultural-ethical advancement, of harmony between humanity and nature and of peaceful development.
China has achieved remarkable development, and it has played a vital role in sustaining global economic stability, contributing one-third of global economic growth, she said.
Therefore, companies from all over the world, including from Western countries, are interested in cooperating with Chinese companies, she added.
The scholar also said that in recent years, the world has been moving fast towards multipolarity, with countries in the Global South playing an increasingly prominent role.
These countries support many of China's proposals, including the Belt and Road Initiative, she stressed.
"China proposes to build a human development model based on openness, common development and equal coexistence. This is very important," Kokushkina said, adding that "China's development philosophy and cultural ideas attract and enlighten other Global South countries."
China's path to modernization has opened up a new path for human development, said the expert.