A senior Singaporean researcher has applauded China's tremendous economic success since the implementation of the reform and opening-up policy nearly 40 years ago. He attributed this success to the leadership of the Communist Party of China, which will have its 95th birthday on July 1st.

China owes its great success in economic development to the leadership of the 95-year-old Communist Party of China.

This was according to Dr. Oh Ei Sun, senior researcher with the Nanyang Technological University of Singapore and former political secretary to the Malaysian prime minister.

During an interview with CCTV ahead of the 95th anniversary of the founding of the CPC, Oh said China's double-digit growth over the last decade turned it into the world's second largest economy and gave huge impetus to the world's economy development. He added that the current supply-side structural reform is the perfect opportunity for China to convert its extensive growth pattern into a high quality one.

Oh spoke highly of the China-initiated Belt and Road Initiative and Asian Infrastructure Investment Bank. He believes the two mechanisms will be economic stimulants for Southeast Asian countries, especially after the global financial crisis in 2008.

Oh pointed out that the accelerated logistics would also facilitate China and countries along the route of the Belt and Road in people-to-people exchanges. He said a common prosperity would soon be well in sight.