GUANGZHOU, April 19 (Xinhua) -- An Understanding China conference on Chinese modernization and new opportunities for the world was held Wednesday in Guangzhou, south China's Guangdong Province.

The conference, Understanding China -- Greater Bay Area Dialogue, gathered politicians, officials, experts, entrepreneurs, foreign envoys, and representatives of international organizations and multinational companies. It aims to help people understand China's modernization and the new opportunities it will bring to the world.

Over the past decade, China's reform and opening up and its socialist modernization have advanced greatly, writing a new chapter of rapid economic development and long-term social stability, Zheng Bijian, head of the China Institute for Innovation and Development Strategy, said at the opening ceremony.

The key to the great achievements lies in China's adherence to the fundamental principle of development, a people-centered development philosophy, and its commitment to high-quality development, Zheng said.

In a video speech, former Philippine President Gloria Macapagal Arroyo hailed China's development achievements since the beginning of its reform and opening up as "breathtaking."

The event has an opening ceremony, 10 parallel forums, four closed-door seminars, and three special sessions.

The event is co-hosted by the China Institute for Innovation and Development Strategy, the Chinese People's Institute of Foreign Affairs, the Guangdong provincial government, and France's Prospective and Innovation Foundation.