Xi Jinping meets the press at the end of the ninth BRICS summit in Xiamen, Southeast China's Fujian province, Sept 5, 2017. [Photo/Xinhua]

Under Xi's leadership, a new-type modern economic system is taking shape in China, featuring large-scale supply-side structural reform, innovation, rural revitalization, coordinated regional development, the socialist market economy and new pattern of overall opening-up. To help officials fully understand the necessity and urgency of supply-side structural reform, Xi told them stories of Chinese tourists traveling abroad to buy foreign-brand rice cookers and electronic toilet seats.

Xi's vision was embodied in the overall goal of deepening reform -- improving and developing the system of socialism with Chinese characteristics and modernizing the country's governance system and capacity.

Making institutional system more comprehensive, stable and effective was hailed as "the fifth modernization," an addition to the popular catchphrase of "four modernizations" -- agriculture, industry, defense and science -- first raised by the Party in the 1960s.

From law-based governance, environmental friendliness, core socialist values to cultural confidence, more components were added to China's grand modernization design.

Xi's vision of "a great modern socialist country," which aims for socialism's triumph over capitalism, not only guides China to avoiding the middle income trap but is a reference for the governance of other socialist countries.