Zhang Zhuoyuan: Rooting Theoretical Innovation in the Practice of China's Economic Construction
General Secretary Xi Jinping has pointed out: "The source for the emergence of a theory can only be rich and vivid real life; its driving force can only be the practical demands of resolving social contradictions and problems." Furthermore, "the vitality of theory lies in continuous innovation." Since the founding of New China, and particularly since the start of reform and opening up [1], the practice of China’s economic construction has provided fertile soil and extremely rich material for economic research, offering economists the broadest possible stage to exercise their talents. Chinese economists must consistently integrate their research with the needs of national development, rooting themselves in the practice of the country’s economic construction to promote innovation in economic theory.
My path in economic research began with personal interest and has since benefited from the scholarly method of integrating theory with practice. In middle school, I happened upon Political Economy by the famous Soviet economist Leontiev, which sparked a profound interest. In 1950, I applied for and was admitted to the Department of Economics at Sun Yat-sen University. After graduating in the autumn of 1954, I entered the Institute of Economics of the Chinese Academy of Sciences (now the Institute of Economics of the Chinese Academy of Social Sciences, CASS) to conduct research. There, I encountered predecessors such as Sun Yefang, Luo Gengmo, Yu Guangyuan, Xue Muqiao, and Xu Xuehan. I frequently had the opportunity to receive their personal instruction [2], from which I benefited greatly. Mr. Sun Yefang, in particular, was my "guide" in conducting economic research. His academic style of integrating theory with practice has influenced me throughout, ensuring that over several decades of research, I have always persisted in seeking wisdom through investigation, research, and practical experience. Regarding my students, I also require that they not limit themselves to books or online materials to absorb the "indirect experience" of others, but rather conduct more field investigations and gain a deeper understanding of real-world conditions.
Economics is a highly practical discipline aimed at statecraft and social utility [3]. Proceeding from practice and being problem-oriented are the scientific methods for the innovative development of economics. After reform and opening up, the interaction between theory and practice became even more pronounced. In economic research, one must proceed more from reality, identify problems, find the internal links within economic activities, and propose targeted policy recommendations. We must study Marxism-Leninism, but the classical works of Marxism-Leninism cannot provide ready-made answers to contemporary problems. One can only apply its principles, positions, viewpoints, and methods, and then propose answers through one’s own exploration, reflection [4], and innovation.
In 1983, I was transferred to serve as the Director of the Institute of Finance and Trade Economics at CASS. For the following ten years, my research focused on the issue of price reform in China. During that period, I relied on my work unit to strengthen ties with price administration departments and intensified investigation and research. This allowed me to understand many actual conditions of economic operations. Based on this, I conducted relevant theoretical research, gradually developing the viewpoint of advancing price reform through marketization and proposing several constructive ideas in the field of price reform. Between 1993 and 2013, I had the honor of participating in the drafting of central documents [5] more than ten times, which gave me the opportunity to engage more deeply with practice and understand China’s national conditions (guoqing). This was of great assistance to my economic research. Facts have proven that only by delving into the great practice of reform and opening up and exploring the major theoretical issues in the process of socialist market economy reform can one provide theoretical support for reform decisions and policy formulation.
General Secretary Xi Jinping has emphasized: "One must always possess the spirit of opening roads through mountains and building bridges over rivers [6]; one must forge ahead with determination, explore boldly, and be courageous and adept at analyzing and answering the urgent questions in real life and in the minds of the masses. We must continuously deepen reform and opening up, continuously make new discoveries, creations, and progress, and continuously promote theoretical, practical, and institutional innovation." I have always believed that researching the issues of reform and opening up is the sacred duty of Chinese economists, as well as an excellent opportunity to exercise our talents and serve the motherland. Since the 18th National Congress of the CPC, socialism with Chinese characteristics has entered a New Era, and the great rejuvenation of the Chinese nation has revealed unprecedentedly bright prospects. At the same time, the era has posed a series of major questions to Chinese economics that require answers; Chinese economics has welcomed a major opportunity for innovative development. Economists should seize this major opportunity, conduct scientific analysis and research on the major subjects raised by the era, and—taking China and the era as their frames of reference—develop economic theories with distinct Chinese characteristics.
There is no end to practice, and there is no end to theoretical innovation. Now, although I am over ninety years old and my physical strength and energy are not what they were in my youth, I remain very concerned with the issue of China’s economic structural reform. I persist in understanding the new subjects faced in practice, such as the development of new quality productive forces, and I occasionally exchange ideas with young economists. The Party and the state have conferred upon me the supreme honor of "Outstanding Contributor to Economic Research," by which I am deeply encouraged and honored. At the same time, I hope this honor can inspire the broad ranks of Chinese economists to pursue academic truth and offer suggestions for the nation. By consistently adhering to the research method of integrating theory with reality, carrying forward the spirit of "not following books, not following superiors, but only following the truth" [7], and conducting economic research with respect for science and practice, we will surely draw closer to the scholarly ideal of "knowledge for the service of society" and achieve more innovations in economic theory with practical guiding significance.
(The author is a recipient of the national honorary title of "Outstanding Contributor to Economic Research" and a researcher at the Institute of Economics, Chinese Academy of Social Sciences.) Source: People's Daily (January 13, 2025, Page 09) Web Editor: Huihui