The paper is devoted to the analysis of characteristics of the development of China during last 70 years. The main stages of reforms, the dynamics and corrections of strategic development goals in different periods are considered. The main attention is paid to the current situation of the country, main characteristics of the achieved level of the development and the features of China's transition into the category of leading world powers. The problems and main strategic goals of further development of “socialism with Chinese characteristics” during “the new era”, determined by the decisions of the 19th Congress of the Communist Party of China, are examined. The project “One Belt, One Road” is analyzed separately as a key component of the implementation of reforms at the present stage. Considerable attention is devoted to China's position in the world, its confrontation with the United States and the struggle for leadership in an unstable international situation, increased protectionism and “trade wars”. It is noted that in the market economy environment, China's confrontation with the United States is a manifestation of competition at the intergovernmental level, and counteraction to the progressive development of the PRC by the United States and Western countries covers all spheres including the project “One Belt, One Road”. The state and prospects of the development of the relations between China and Russia are analyzed as an alternative. In the situation of volatile international instability and strengthening of protectionism, it is extremely important for Russia to maintain and improve partnerships with China on the basis of comprehensive strategic cooperation in economy, humanitarian sphere and international stage. The author concludes that further changes in the balance of power and influence in the China-Russia-US triangle in favor of our country should be expected in the medium and long term due to Russian-Chinese economic relations, extension of cooperation as part of the project “One Belt, One Road' and formation of the common Eurasian space.