People’s Republic of China will be celebrating its glorious 70th Anniversary of the founding of the country on 1 October with spectacular festivities across the country and abroad wherever the Chinese diaspora is living. The foundation was officially proclaimed by Chinese Communist Party’s chairman Mao Zedong on 1 October 1949 at Tiananmen Square in Beijing. It was historic moment of pride for the countrymen especially after the end of the long civil war, deaths and destruction from 1927 till 1949. China with having population of more than 1 billion and gigantic current GDP of $27.331 trillion, is a miraculous transformation from a poor agrarian society into world’s most powerful and largest economies. After 40 years of reforms period and hard work with dedication, the country has opened to the world with global ambitions of peaceful co-existence, shared prosperity and common destiny. The launch of mammoth project of the century Belt and Road Initiative, People’s Republic of China is leading from the front at the global stage. Chinese people well deserve all these celebrations. The country has changed face of the development, growth with rapidness and sustainability, helping to reduce the world’s poverty. China is now on the path to realise the grand Chinese dream as coined by the President Xi Jinping to build a moderately prosperous society and realise national rejuvenation in the coming future. For any country, completing seven decades of independence, there is always time to reflect on the achievements and challenges on the way. The journey from independence till 1 October 2019 was not an easy ride for Chinese people. At the time of the announcement of the independence in 1949, China begin its journey towards a rejuvenated rebirth after the ruins of the end of civil war. At the time of independence Chinese GDP was only merely few billion dollars with per capita was bare minimum. Chinese people were living in abject poverty with hardly surviving with nothing or less food and clothing. In 1950s, the new regime established a central government to reunify the country inspired from the Soviet model. Based on the experience of past and the revolution, a centralized system was established. With mobilization of the national resources, industrialization program was set up. The main goal of the government was to rebuild and recover through inward looking approach. Important financial and communications structures and institutions were initiated to guarantee growth and development. During this period all the set targets for the recovery were achieved including restoration of industrial growth, agriculture reforms and mass mobilization for inclusiveness in the main nation building. Leaders like Mao and Zhou Enlai have made revolutionary decisions in the development of the country during this initial period. Optimum use of social and scientific innovation in economic growth, technology, focusing on made in China, apart from the reforms at all levels including industry, education, health and other important areas were the main reason behind the progress and prosperity From 1958-1978, this was the period of Giant Leap Forward program of rapid economic growth, however as a result of this program the economy and the society faced the backward knee jerk including the advent of Cultural Revolution that has caused a lot of deaths and destruction. As a result of these two major events, during the time period, the economic progress was slow down. This period was culminated after the death of Mao in 1978. Deng Xioping took charge and led the nation towards prosperity with the much-needed reforms and opening period. With visionary leadership followed Deng each leader contributed in his best of the capabilities towards the transformation of the country to what it is today. During this period the ownership of agriculture land for peasants was increased with rights to farm creating immense agriculture boom period causing food shortage to vanish. foreign investment also begin to pour in the country. A remarkable whole new horizon has been created for the country to follow and developed. As a result of this reform period and development, over 800 million people were taken out of abject poverty. Optimum use of social and scientific innovation in economic growth, technology, focusing on made in China, apart from the reforms at all levels including industry, education, health and other important areas were the main reason behind the progress and prosperity. Encouraging small businesses including the latest use of the technology, internet hence new industries were developed with innovative products. Alibaba and many such companies are the great example of that progressive period. The consistency in political and economic policies was another major reason for the overall progress of China coupled with political stability. The writer is Director, Institute of Peace and Diplomatic Studies