As China prepares to unveil its next five-year plan on Thursday, the mouthpiece of the country’s ruling Communist Party has styled the nation’s socialist system as a source of strength that powers the development of the vast Chinese economy and provides stability to the global economy.

“Formulating and implementing five-year plans in a scientific and consistent manner has been a key governing experience of the party and one of the core political strengths of socialism with Chinese characteristics,” the article said.

“At key moments and critical junctures, the party Central Committee’s timely assessments of situations and decisive actions can ensure China’s economic ship sails steadily through the waves and stays on course. This has become the biggest consensus across the party,” it added.

“When some countries remain mired in short-term policymaking and frequent policy reversals under multiparty systems, China adheres to a unified national strategy, mobilising all sides and advancing steadily in the right direction.”