Illustration: Liu Rui/GT

Over the last years the world has confronted very serious challenges, both economic and political. Most advanced economies (especially Europe) are still struggling -for almost eight years already - to get out of the worst financial crisis in almost a century and the multilateral political agenda has accumulated a number of increasingly critical problems over the last years. The international community had been suffering the pain and the scarcity of a more decisive political leadership.

In that context, Chinese President Xi Jinping's domestic and international initiatives are encouraging and very welcomed. His Four Comprehensives build on the decisions of the Third Plenary Session of the 18th CPC Central Committee regarding China's reform to give a visible face and a meaningful goal to the efforts and commitment of the Chinese people, embodied in the stimulating definition of the Chinese dream.

This vision places center stage the "building of a moderately prosperous society" in a comprehensive manner, to ensure that the people of China will achieve the satisfaction of their economic and social needs. It implicitly advocates for the strengthening of the successful process of socio-economic progress that took place over the last decades, stimulating innovation, entrepreneurship and trade to continue creating jobs and opportunities for all.

To achieve this goal Xi crafted a very clear message: More reform is needed. He identifies the route to prosperity and social progress in a precise mandate to "comprehensively deepen reform" efforts.

It is not a minor issue considering that China is at a sort of "reform crossroads." A considerable share of the Chinese population feel that the reform process had already achieved something for them and are reluctant to committing more efforts to that end. Others are in prominent places and do not want to see their positions compromised.

The leadership understands, however, that reform must continue until "all," if possible, or "almost all" the Chinese people at least meet the basic living standards required to live with dignity and seize the opportunities of the "epochal change" we are confronting at the world level.

It can be easily understood that, to deepen reform in that context - considering the many years invested already on economic and social reform efforts -would imply a renovation and modernization of the system of government in China. The driver of such a process, as proposed by Xi, will be the implementation of the rule of law in a comprehensive manner.

This constitutes a major political move to secure social justice, a very important goal in the present phase of the Chinese economic miracle. After so many years focusing on economic growth to enhance the social conditions of the people, the time has come to consolidate previous gains, adding to it efforts to strengthen social justice by means of modernizing the government system.

Comprehensively strengthening Party discipline could be seen as an indispensable element to secure the other three comprehensive measures and, in particular, for the implementation of the rule of law, since the elimination of corruption constitutes an essential element for it to deliver the expected results in terms of social justice.

For that reason, his foreign policy initiatives are very valuable. In addition to a very demanding domestic agenda, Xi is determined to play also a constructive role for China as a responsible global citizen.

China is decisively contributing to the building of the institutions needed to renew multilateralism, taking stock of the new international balance of economic power and new political realities. This is essential to shape a modern and progressive international society. It seems it wants a domestic "moderately prosperous society" in an "international modern and progressive society."

China's domestic and international initiatives are well correlated. Both are pursuing the building of a better society. From my viewpoint it is evident that this generation of Chinese leaders has a rendezvous with destiny. And Xi seems to have well understood the challenge, willing to face it in the best possible manner. He is contributing positive and decisive leadership, a scarce and precious gift in the times we live.

The author is chairman of Global Alliance of SMEs, former UNIDO director general, and non-resident senior fellow of Chongyang Institute for Financial Studies, Renmin University of China. opinion@globaltimes.com.cn