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This article explores the concept of risk from the Chinese perspective, presenting its evolution through the course of the history of Chinese thought, from the classics up to the present, in close relation with the concept of development. In the second part, the author presents the underlying elements that have helped to shape its current form, comparing them with the substrata of the same concept in the West. The author also shows the way in which risk perception has helped to shape the guidelines of China’s current transformation, such as the concept of Peaceful Emergence. Finally, the article highlights the main risks (both internal and external) that threaten the sustainability of China’s development.