Can China do it? This is the crucial question for the world's biggest and boldest economic, political and social experiment.[Special Coverage]

At the core of understanding the country's prospects is the governance philosophy of its leader, Xi Jinping.

Xi is leading more than 1.3 billion people on the march toward the Chinese Dream -- an end to the worst kinds of poverty, and the rejuvenation of a nation that has already made astonishing progress in creating prosperity.

The 63-year-old reformer has brought his own thinking to bear on problems that will be faced down the road, especially after a year of tumultuous world events.

With the concerns of the people his first and foremost concern, Xi's experience, commitment, determination and ability to govern and lead have become something of a rarity on the global political stage.

Later this year, the 19th National Congress of the Communist Party of China (CPC) will elect new leadership for another five-year term, the crunch period for Xi's vision of a well-off nation by the Party's 100th anniversary.

By 2020, China's gross domestic product is expected to exceed 90 trillion yuan (13 trillion U.S. dollars). There should be a middle-class population of about 400 million in the country by then, a huge market for the world.

The goal is fast approaching, and will only be met if officials at all levels can align their thinking with that of the central leadership, and act according to the "four comprehensives" raised by Xi: the cornerstones of prosperity, reform, rule of law and strict Party governance. The strategy aims to lead the country to modernization and a standing at the center of the world stage.

This is China's own story, one neither copied from other countries nor imposed on any.

At the annual "Two Sessions" of the national legislature and political advisory body in Beijing this month, Xi expressed his confidence.

"As long as we gather the wisdom and strength of more than 1.3 billion Chinese people, there can be no limit to the success of our cause," he said.

NEW THOUGHTS, NEW ACTIONS

From being the youthful head of an impoverished village in northwest China via Party chief in the nation's advanced eastern regions to leader of the nation, Xi has shown deep understanding of state governance, evident in economic and social reform, foreign affairs and military transformation.

In the economic sphere, he has led China to achieve remarkable growth, even though other major economies are faltering. China now contributes to over 30 percent of world economic growth.

Xi calls the current phase the "new normal," from which an economy is emerging that is more sustainable and inclusive.

To ensure the success of this rebalancing, he has put forward supply-side structural reform as the cure.

Fundamentally different from the supply-side economics of the West, Xi's policy means taking a harsh stance against outdated and inefficient industries and putting in their places new, innovative systems of work and production which will neither destroy the environment nor succumb when the next global financial crisis hits.

China hopes to increase its GDP by about 6.5 percent this year. At this rate, the nation will generate more output than it did during the days of double-digit growth.

Xi is at the wheel of a reform juggernaut, revitalizing and renewing almost every aspect of the economy and society, from the financial sector to health care. Changing the lives of hundreds of millions of people means the abandonment of what is no longer relevant, including the one-child policy and "re-education through labor," a way of dealing with minor offenders that was introduced more than half a century ago.

Xi emphasizes the rule of law and checks on power, as seen in his decision to create a national supervision commission. Lawmakers are compiling a civil code to better protect people's rights.

His campaign against corruption, a threat he warned could destroy the Party and bring about the downfall of the state, has gained "crushing momentum." Since the 18th CPC National Congress, at least 240 senior officials and more than 1 million lower-level officials have been investigated.