CPC congress to impact on global economy

The upcoming 18th CPC National Congress will make strategic arrangements for the overall advancement of China's reform and opening up, Italian experts said on Monday.

Over the past decades, China has made significant achievements, but continues to face a series of challenges that need to be addressed through further reforms, Vittorio Emanuele Parsi, a noted professor of international relations at the Catholic University of Milan, said.

"For a country of over 1.3 billion people, the biggest issue is how to make the jump from developing to advanced economy, which requires increased efforts to tackle the many contradictions and disparities that undermine stability," he told reporters.

However, the strength of China's economy based on a wise combination of state planning and private businesses can withstand the crisis better than in other systems, Diliberto noted, calling himself "very confident" in the ability of CPC leadership to handle key challenges.

The upcoming congress will be convened under fundamental topics for the future of China, that should spare no effort in advancing the well-being of its entire people while seeking to build a conservation culture, he said.

In fact, in the current times of economic globalization and political multi-polarization, changes in one country cannot but influence others, especially for a major country like China, said Giorgio Prodi, an economics professor at the University of Ferrara.

Prodi, who is the director of a new program launched at Bologna University to form young managers able to build bridges between Asia and Europe, was impressed by China's ability to "resist external pressures and foster stability over the past years".

Meanwhile, he noted, both inner and external conditions have changed. China is not a top low labor cost country anymore, and the global economy has entered a crucial difficult phase.