The Third Plenary Session of the 11th Central Committee of the Communist Party of China (CPC) opened up a new period of China’s reform and opening up and socialist modernization drive. Reform and opening up represents a great awakening of the CPC and a great revolution in the history of the Chinese people and the Chinese nation. The CPC has led the Chinese people in comprehensively and profoundly summing up the positive and negative experiences since the founding of New China, drawing on the historical experiences of world socialism, emancipating the mind, seeking truth from facts, and clearly put forward its own path. To build socialism with Chinese characteristics, the CPC has set “one central task, two basic points” as the party’s basic line in the primary stage of socialism based on an accurate grasp of China’s national conditions, has justifiably answered a series of basic questions on building socialism with Chinese characteristics, and has formulated a development strategy of taking three steps to basically realize socialist modernization by the middle of the twenty-first century. Against the backdrop of complex domestic and international circumstances, the Party led the people in overcoming various risks and challenges, and made a series of accomplishments including the establishment of a socialist market economic system and China’s accession to the World Trade Organization. Cross-century strategies, such as invigorating China through science and education, strengthening the nation by cultivating talent, and developing western China on a large scale, were formulated and implemented. China successfully hosted the Beijing 2008 Olympic Games, resumed its exercise of sovereignty over Hong Kong and Macao, and advanced the great cause of national reunification. Efforts have been made to initiate, uphold, and further develop socialism with Chinese characteristics. Actively embracing globalization, China built a moderately prosperous society in all respects and significantly boosted both its economic strength and overall national power, ranking second globally in terms of GDP. China’s international status and influence have been notably elevated. The living standards of the people have seen substantial improvement, and long-term social stability and unity have been maintained. “These achievements fueled the push towards national rejuvenation by providing robust institutional conditions and the material base for rapid development.” Socialism with Chinese characteristics is brimming with vitality.