GUANGZHOU, Dec. 3 (Xinhua) -- Humanomics in the new era, a development format generated and developed from Chinese modernization practice, created a new form of human advancement and inspired the cause of human progress, said a report released Sunday.
Compared with the mainstream Western economics based on the "economic man" hypothesis and the economic practices under its guidance, humanomics in the new era that emerges from Chinese practice contains general laws of economic development and promotes the "humanistic return," according to the think tank report released by Xinhua News Agency.
From its perspective, humanities can positively drive economic growth, expand the space for economic development, and provide a more sustainable impetus for economic development.
With increasingly severe economic problems, mainstream Western economics which lacks humanistic thinking and care, has become helpless, whereas China's economy has shown strong resilience and become a powerful anchor for the world economy, according to the report.
In the past three years, China's economy has grown at an average rate of 4.5 percent annually, much higher than the world's average of roughly 1.8 percent during the same period.
The secret of China's economic miracle is the people-centered thinking for development, which humanomics in the new era advocates, the report noted.
It said that the path to modernization should not be deviated from a country's own cultural traditions. Taking China as an example, the country uses its fine traditional culture, seeks creative and innovative cultural development, and explores a suitable development mode based on its realities.
China demonstrates that humanomics in the new era is committed to working hand in hand with other countries for win-win cooperation, making valuable contributions to solving the challenges facing the current world economy, said the report.
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