The recent plenum of the central Communist party of China (CPC) promised reforms necessary to pave the way for the realization of Chinese dream.
"China's society is extremely complex compared to the past, so a comprehensive approach to reform is required," said U.S. expert Robert Lawrence Kuhn, Chairman of Kuhn Foundation.
Addressing a forum here called International Dialogue on the Chinese Dream held on Saturday and Sunday, Kuhn said the Chinese dream cannot be achieved without reform.
Chinese president Xi Jinping came up with the "Chinese dream" last November, and it has since become a buzzword both at home and abroad.
Xi said everyone has his or her own ideals and pursuits, in addition to this shared dream, "realizing the nation's great rejuvenation is the greatest dream of the nation," Xi said.
For Kenneth Lieberthal, senior researcher at the Brookings Institution, the meaning of Chinese dream is wide ranging, with six key components required to make the dream real: a development model based on efficiency and institutional capacity; ecological urbanization; fair distribution of the benefits of economic development; political reform; reduction of governmental interference in the market; and social stability.
The Decision on Major Issues Concerning Comprehensively Deepening Reform was adopted in response to people's concerns and requests. It requires reform to be complete by 2020, the same deadline as that of building a moderately prosperous society.
Kuhn has recognized the historical significance of the third plenary session of the 18th CPC in November as similar to the third session of the 11th led by Deng Xiaoping to institute economic reform.
The agenda includes difficult areas, such as state-owned enterprises and land reform, he said, which demonstrates that China is trying to move forward. The result is a blueprint for development, though not a guarantee of success, Kuhn added.
Other experts at the forum discussed financial reform, demographics and ecology, calling the Chinese dream a prompt to consensus among the middle class, which is crucial for further reform.
Gustaaf Geeraerts, director of the Brussels Institute of Contemporary China studies, said that the Chinese dream needed new ideas in the economy, politics, culture, society and the environment.
"These will require big changes in organizational structure, administrative functions and personnel," said Martin Jacques, a visiting senior fellow from IDEAS of the London School of Economics and Political Science.
Martin does not expect western style reform. "The Chinese state and the government has never been the same as western countries, but I expect the reform in information publicity, representation and responsibility for the people."
Rejuvenating China, the Chinese dream will benefit the world with experiences for other regions and countries to follow and help establish win-win relationships among world players, Martin added.