Developing Modernization Indicators for the People’s Republic of China: Key Considerations and a Proposed Framework

The People’s Republic of China (PRC) is in the process of modernization, which it expects to achieve by 2035. This requires a national indicator to gauge the progress and level of the country’s modernization drive. This working paper provides an indicator that assesses the progress in the PRC’s modernization journey, and applies this modernization indicator—structured on thematic categories, subcategories, and intersection—to the PRC’s performance, which is then compared with countries of the Organisation for Economic Co-operation and Development and the G20. The paper also examines four major policy implications of this modernization for the PRC, which will be more durable and successful if coupled with effective division of labor and synergy with stakeholders.