Zhang Donggang: Comprehensively Understanding the Theoretical Contributions and Practical Power of Xi Jinping's Economic Thought
Editor's Note Recently, Volume I of the Selected Economic Writings of Xi Jinping was published and distributed. This thematic collection provides authoritative teaching material for the entire Party and the people of all ethnic groups nationwide to deeply study and implement Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, especially Xi Jinping economic thought. On March 19, the People’s Daily and Renmin University of China jointly hosted a theoretical publicity symposium on "Studying Volume I of the Selected Economic Writings of Xi Jinping." Starting today, the theoretical section of this newspaper launches a special column, "Experts Discuss the Study of Volume I of the Selected Economic Writings of Xi Jinping," to first publish the keynote speeches of the participating experts. We strive to lead the study, research, and promotion of Xi Jinping economic thought to greater depths by studying the original works, reading the original texts, and grasping the underlying principles [1]. We welcome our readers to actively share their learning experiences.
Since the 18th CPC National Congress, facing a grim and complex international environment and the arduous tasks of domestic reform, development, and stability, the CPC Central Committee with Comrade Xi Jinping at its core has persisted in observing general trends, planning for the overall situation, and taking substantive action. It has comprehensively strengthened the Party’s strategic planning and unified leadership over economic work, continuously deepened its understanding of the laws governing economic work, and proposed a series of new concepts, new ideas, and new strategies. These have led China's economic development to achieve historical successes and undergo historical transformations, forming Xi Jinping economic thought. As a vital component of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, Xi Jinping economic thought contains firm ideal convictions, a clear political orientation, profound strategic thinking, a strong sense of historical responsibility, sincere sentiments for the people, and scientific ideological methods. It is a systematic theoretical summary of the practical experience of economic development in the New Era and a precious ideological crystallization formed by the CPC’s unremitting exploration of the path of socialist economic development. It provides a sharp ideological weapon for promoting high-quality development, scientifically responding to major risks and challenges, and comprehensively building a modern socialist country. It also makes significant original contributions to enriching and developing Marxist political economy.
Recently, Volume I of the Selected Economic Writings of Xi Jinping (hereinafter referred to as the Selected Writings) was published. This is a major event in the Party’s ideological and theoretical building, as well as in the process of the Sinicization and modernization of Marxist political economy. The Selected Writings includes the most important and fundamental works by General Secretary Xi Jinping on economic construction. it systematically explains the core tenets, spiritual essence, rich connotations, and practical requirements of Xi Jinping economic thought. It profoundly reflects the theoretical height, ideological depth, and practical breadth of the Sinicization and modernization of Marxist political economy, serving as authoritative teaching material for deeply studying and implementing Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, especially Xi Jinping economic thought.
Opening a New Realm for Scientific Socialism
How to understand and build socialism is both a theoretical proposition of scientific socialism and a question that Marxism must answer in the process of interpreting and transforming the world. Xi Jinping economic thought is the product of combining the theory of scientific socialism and Marxist political economy with China's specific realities and fine traditional Chinese culture. It centrally embodies our Party’s further deepening and new expansion of its understanding of the laws of economic development, especially the laws of socialist economic construction.
It has deepened the principle of the free and well-rounded development of individuals in scientific socialism. Scientific socialism establishes the free and well-rounded development of individuals as the ultimate value of socialism. The Communist Manifesto states: "The free development of each is the condition for the free development of all." Socialism takes the free and well-rounded development of every person as its goal; it is precisely in a socialist society that individuals truly obtain the conditions and means to freely and fully develop their talents. The opening chapter of the Selected Writings clarifies that "the people's aspiration for a better life is our goal," profoundly embodying the fundamental stance of being people-centered. Xi Jinping economic thought emphasizes adhering to development for the people, development relying on the people, and development fruits shared by the people. It profoundly clarifies the main tasks, principles, and policies for realizing the purpose of socialist production in the New Era, making it clearer that the fundamental goal of economic development for socialism with Chinese characteristics is to satisfy the people’s aspirations for a better life. This concretely transforms the principle of the free and well-rounded development of individuals into a people-centered development philosophy and practical action.
It has deepened the principle of liberating and developing productive forces in scientific socialism. Productive forces are the fundamental driving force of human social development and the ultimate cause of all social change and political transformation. Marx pointed out in Capital: "Economic epochs are distinguished not by what is built, but by how it is built, and with what instruments of labor." To promote the free and well-rounded development of individuals, there must be a strong material foundation; the only feasible way to achieve this goal is to liberate and develop social productive forces. The level of development of social productive forces determines both the level of human social development and the different forms human society takes at different historical stages. The series of new concepts, new ideas, and new strategies in Xi Jinping economic thought follow the logic of Marxist theory on productive forces, attach great importance to the decisive role of productive forces, and continuously deepen the understanding of the laws of their development. It creatively proposed the important concept of new quality productive forces, emphasizing that scientific and technological innovation as well as industrial innovation are the basic paths for developing new quality productive forces. This reveals the characteristics and laws of the development of social productive forces in the New Era, realistically transforming the principle of liberating and developing productive forces into the theory of new quality productive forces, thus achieving a "revolution in terminology" for Marxist political economy.
It has deepened the community principle of scientific socialism. In The German Ideology, Marx and Engels emphasized: "Only within the community has each individual the means of cultivating his gifts in all directions; hence ought individual liberty to be possible only within the community." The historical progression of human society confirms that the basic mode of human existence is the community, and the overall form of human development is civilization. The "true community" was the conception and construction of future society by Marx and Engels based on their investigation of human modes of production and the development of social formations. Xi Jinping economic thought focuses not only on China's development issues but also on global common development, providing scientific answers to the questions of China, the world, the people, and the times [2]. From a theoretical dimension, Xi Jinping economic thought proposes facing major realistic problems like the wealth gap and development divide. It advocates for the joint creation of a development pattern characterized by universal benefit, balance, coordination, inclusiveness, win-win cooperation, and common prosperity. It aims to work together to build a community with a shared future for humanity, which encompasses rich meanings such as building a security community, an economic community, and an ecological community. This is a contemporary inheritance and development of the Marxist idea of community. From a practical path, Xi Jinping economic thought emphasizes independently exploring development paths that suit one's own national conditions. it breaks through the theoretical assumption that "modernization equals Westernization" and the stale thinking that "Western civilization is modern civilization" within the context of mainstream Western economics. It has successfully advanced and expanded Chinese-path modernization, enriched and developed a new form of human civilization, and represents the direction of progress for human civilization. It sets a new exemplar for developing countries to move toward modernization independently and provides a new solution for leading the development of modern civilization in human society.
It provides vivid practice for the vigorous development of scientific socialism. Marx pointed out that "between capitalist and communist society lies the period of the revolutionary transformation of the one into the other," and this period is socialist society. The sum total of the relations of production constitutes the economic base of this society; the economic base is the material relationship of society, and upon a certain economic base arises a corresponding superstructure. Under the guidance of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, China has adhered to the people-centered development philosophy and promoted better adaptation between the relations of production and productive forces, and between the superstructure and the economic base. It has written a new chapter of the "two miracles" of rapid economic development and long-term social stability. Through fruitful practical achievements, it has allowed scientific socialism to radiate new and vigorous vitality in 21st-century China, effectively refuting various pessimistic arguments such as the "obsolescence of Marxism," the "failure of socialism," and the "end of history." Xi Jinping economic thought maintains and improves basic economic systems—such as the dominance of public ownership alongside the common development of multiple forms of ownership, the dominance of distribution according to work alongside the coexistence of multiple distribution modes, and the socialist market economy system. This lays the material and economic foundation for the further vigorous development of socialism and even the realization of the supreme ideal and ultimate goal of communism, showcasing the road to revival and the light of hope for socialism.
A Concentrated Expression of Continuing the Chinese Cultural Lineage and Promoting the Creative Transformation and Innovative Development of Fine Traditional Chinese Culture
Xi Jinping economic thought not only inherits, develops, and innovates upon Marxist political economy but also highlights the Chinese wisdom of state governance. Fine traditional Chinese culture is the spiritual lifeblood of the Chinese nation, containing rich philosophical ideas, humanistic spirit, and moral concepts. Xi Jinping economic thought organizes and systematizes the economic ideas and research methods within fine traditional Chinese culture, highlighting its richness, uniqueness, innovativeness, and systematic nature. It further promotes the Sinicization and modernization of Marxism, allowing it to take root, sprout, flower, and bear fruit on Chinese soil.
It contains the worldview and methodology of fine traditional Chinese culture. Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era is the most powerful embodiment of the cultural subjectivity of the Chinese nation. As a vital component of this thought, Xi Jinping economic thought fully absorbs the economic ideas within fine traditional Chinese culture, manifesting a distinct Chinese style and spirit. For example, it embodies the worldview of "the unity of heaven and humanity" [3], emphasizing that ecological protection and economic development are not in a relationship of contradictory opposition but of dialectical unity. It profoundly clarifies core concepts such as the harmonious coexistence of man and nature and that "lucid waters and lush mountains are invaluable assets," achieving the creative transformation and innovative development of the "unity of heaven and humanity" worldview, providing ideological guidance for economic work in the New Era. Furthermore, it embodies the methodology of the "unity of knowledge and action" [4]. On the basis of accurately grasping the laws of economic development, it adheres to "seeking truth from facts" and "regulating profit through righteousness" [5], correctly utilizing the method of contradiction analysis to resolve economic difficulties and systematically solve structural problems in economic development.
It adheres to the "Two Combinations," advancing the Sinicization and modernization of Marxism. Theory originates from practice, and practice includes both the present and history. Economics possesses distinct practical and historical characteristics. Building and developing socialism with Chinese characteristics on the profound foundation of over 5,000 years of Chinese civilization necessitates the "Two Combinations"—combining the basic tenets of Marxism with China's specific realities and with fine traditional Chinese culture. This is a law-based understanding we have reached in exploring the path of socialism with Chinese characteristics. Xi Jinping economic thought is a major theoretical achievement of adhering to the "Two Combinations," reflecting a profound grasp of the laws and basic characteristics of economic development. Xi Jinping economic thought firmly holds the major relationship between preserving the "soul-vein" of Marxism and the "root-vein" of fine traditional Chinese culture. It applies new perspectives, ideas, methods, and tools to promote the creative transformation and innovative development of economic ideas within fine traditional Chinese culture. Xi Jinping economic thought takes China's specific realities as its practical landing point; it is filled with academic propositions, ideas, and viewpoints of local flavor. It leads the construction and innovation of China's economic disciplinary, academic, and discourse systems, promoting innovation in knowledge, theory, and methodology. It has formed a series of identifying concepts and original theories with Chinese characteristics, highlighting the Chinese path, Chinese governance, and Chinese logic.
It depicts the vivid practice of empowering economic and social development through culture. Culture is an important force for promoting economic and social development; to promote high-quality development, culture is a vital fulcrum. General Secretary Xi Jinping pointed out: "To realize the Chinese Dream of the great rejuvenation of the Chinese nation, material wealth must be extremely abundant, and spiritual wealth must also be extremely abundant" and "In places where culture is highly developed, the economy likewise leads the way." These important expositions transcend the narrow vision of mainstream Western economics and break through "humanistic paradoxes" such as the inability of economic growth to account for both equity and efficiency, or development and protection. They contain the profound accumulation of fine traditional Chinese culture and represent an innovative expansion of Marxist political economy. They bestow a vivid and fresh cultural power upon Chinese-path modernization and the sustained, healthy development of the Chinese economy, building a solid civilizational foundation for advancing the cause of building a strong country and national rejuvenation. Correctly understanding and grasping General Secretary Xi Jinping’s important expositions on empowering economic and social development through culture helps in deeply studying and implementing Xi Jinping economic thought. It provides scientific theoretical guidance for achieving the coordinated development of material and spiritual civilizations, promoting China’s high-quality development through the symbiotic prosperity of culture and economy.
It profoundly reveals that the centralized and unified leadership of the CPC Central Committee is the fundamental guarantee for doing economic work well.
As early as the 2012 Central Economic Work Conference, General Secretary Xi Jinping emphasized: "We must earnestly strengthen the Party's leadership over economic work and perform economic work in a solid manner." Economic work is the central task of the Party, and the Party's leadership must be fully manifested within this central task. Xi Jinping's economic thought creatively puts forward the major viewpoint that the centralized and unified leadership of the Party Central Committee is the fundamental guarantee for doing economic work well, providing a powerful political guarantee for the continuous and healthy development of our country's economy in the New Era.
The centralized and unified leadership of the Party Central Committee over economic work is the fundamental reason why our country's economic development has achieved historical accomplishments and undergone historical transformations in the New Era. This important assertion—that the centralized and unified leadership of the Party Central Committee is the fundamental guarantee for doing economic work well—is an inevitable conclusion of the Party's continuous deepening of its understanding of the laws of economic work through practice. It is the greatest consensus formed throughout the entire Party and plays a leading role within Xi Jinping's economic thought. Since the 18th National Congress of the CPC [6], the Party Central Committee with Comrade Xi Jinping at its core has overseen the overall situation and acted with courageous responsibility. It has profoundly grasped the laws governing the development and changes of the economic situation at home and abroad, accurately judged the historical coordinates of our country's development, and strengthened strategic planning and unified leadership over economic work. This has played a vital role as a leadership core in ensuring that the ship of China's economy passes through rapids and shoals, braves the wind and waves, and achieves steady and long-term progress. Practice has proven that the fundamental reason why China’s economic construction in the New Era has been able to overcome various difficulties and achieve a comprehensive improvement in the quality and efficiency of economic development lies in General Secretary Xi Jinping’s position at the helm, in the scientific guidance of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era (especially Xi Jinping's economic thought), and in the strong and effective centralized and unified leadership of the Party Central Committee over economic work.
The centralized and unified leadership of the Party Central Committee over economic work is the source of experience for resisting major risks and challenges and achieving high-quality development. General Secretary Xi Jinping emphasized: "To promote high-quality development, we must unswervingly adhere to the Party's leadership and strengthen Party building." Currently, the world is undergoing great changes unseen in a century. Our country's economic operation faces an increasingly complex domestic and international environment, and many deep-seated, structural problems have become more prominent. Domestically, there is insufficient effective demand, weak endogenous momentum for consumption, growth in investment faces constraints, and risks and hidden dangers remain numerous in some fields. Internationally, the momentum for global economic growth is insufficient, total world demand is sluggish, the maneuvering among major powers is becoming more intense, geopolitical conflicts are aggravating, and economic globalization is encountering adverse currents. At the same time, it must be seen that our country's economic foundation is stable, its advantages are numerous, its resilience is strong, and its potential is great; the supporting conditions and basic trend for long-term improvement have not changed. Only by adhering to the centralized and unified leadership of the Party Central Committee over economic work can we effectively respond to various complex situations on the road ahead and consolidate the strong political foundation for achieving high-quality development. Practice has proven that the more complex the situation, the more arduous the tasks, and the more profound the reforms, the more we must adhere to and strengthen the Party's overall leadership, make the Party even stronger and more powerful, and permeate the centralized and unified leadership of the Party Central Committee throughout the entire process and all aspects of economic construction, continuously transforming the institutional advantages of the Party’s leadership over economic work into governance efficacy.
The centralized and unified leadership of the Party Central Committee over economic work is the source of advantage for realizing the grand blueprint of Chinese-path modernization. The key to promoting Chinese-path modernization lies with the Party. The Party's leadership directly concerns the fundamental orientation, future prospects, and ultimate success or failure of Chinese-path modernization. Last year's Central Economic Work Conference emphasized: "We must strengthen the Party's leadership over economic work, adhere to putting action first, enhance confidence, face difficulties head-on, be enterprising and promising, and ensure that the various decisions and deployments of the Party Central Committee are implemented effectively." This is not only an important guide for current economic work but also a key concept running through the development of all undertakings, possessing profound connotations and significant meaning. Implementation is nine-tenths of the task. We must propose practical moves in planning, based on the reality of national conditions and grasping economic laws; through forward-looking thinking, systematic planning, and holistic promotion, we must ensure that our policy toolkit is always aimed at the questions of the times and the needs of development, ensuring that every economic decision closely follows the pulse of development. We must apply solid effort in advancement, improve strategic decision-making mechanisms, and continuously promote the Party’s self-revolution, reflecting the requirements of comprehensively and strictly governing the Party within the Party's leadership over economic work, striving to promote improvements in the quality and efficiency of economic development. We must seek real results in outcomes, reflecting the final efficacy of economic work in the improvement of development quality and the betterment of people's well-being, promoting the transformation of policies into benefits for the people with the spirit of driving a nail [7], and ensuring that the great ship of the Chinese economy braves the waves and moves from victory to new victories.
Demonstrating Powerful Truth-Power in the Practice of China's High-Quality Economic Development in the New Era
Practice is the touchstone for testing truth and its only standard. In the New Era, our country's economic development has achieved historical accomplishments and undergone historical transformations; high-quality development is full of substance, and Chinese-path modernization continues to take new and solid steps. Assessing the situation, General Secretary Xi Jinping proposed major propositions such as the new stage of development, the new development philosophy, and the new development paradigm, providing a scientific guide for action to achieve development that is of higher quality, more efficient, fairer, more sustainable, and more secure.
Entering the new stage of development and writing a new chapter of historical leaps. Since the New Era began, our country has completed the historical tasks of poverty alleviation and the comprehensive building of a moderately prosperous society, achieved the First Centenary Goal [8], and set out on a new journey to comprehensively promote the building of a strong country and the great cause of national rejuvenation through Chinese-path modernization. Standing at the strategic height of coordinating the "two overall situations" [9], General Secretary Xi Jinping put forward the important judgment of the new stage of development. Generally speaking, the new stage of development is a stage within the primary stage of socialism. It is the new stage of building a modern socialist country in all respects and marching toward the Second Centenary Goal [8] after our country has comprehensively built a moderately prosperous society and achieved the First Centenary Goal. It is a new stage of milestone significance in which our Party has led the people to welcome a historical leap from standing up and becoming prosperous to becoming strong. In the report to the 20th National Congress of the CPC, General Secretary Xi Jinping profoundly expounded on the Chinese characteristics, essential requirements, and major principles of Chinese-path modernization, pointing out that Chinese-path modernization is the modernization of a huge population, the modernization of common prosperity for all, the modernization of material and cultural-ethical progress, the modernization of harmony between humanity and nature, and the modernization of peaceful development. The new stage of development highlights the new connotations of the Marxist theory of stages of social development, clarifies the new characteristics and features of the primary stage of socialism in the new historical period, and provides a scientific guide for us to grasp the modernization process scientifically and dynamically, and to refine and implement modernization tasks.
Implementing the new development philosophy and finding the "golden key" to solve development problems. Development is the eternal theme of human society, and the philosophy of development is the precursor to developmental action. A development philosophy is the world outlook and methodology regarding development; it is the scientific theory for guiding development formed by people through the practice of grasping development laws. General Secretary Xi Jinping profoundly grasped the general trend of the accelerating evolution of great changes unseen in a century and the in-depth development of a new round of technological revolution and industrial transformation. He rationally absorbed and transcended various theoretical achievements regarding development, and clearly proposed the new development philosophy of innovation, coordination, green development, openness, and sharing, emphasizing that implementing the new development philosophy is the inevitable path for our country's development and growth in the New Era. The five development philosophies complement and reinforce each other, together forming a logically rigorous, dialectically unified, and organic whole; they serve as the conductor's baton for solving China's future development problems and clarifying China's future development direction. Under the guidance of the new development philosophy, our country's innovation-driven development has achieved remarkable results, with technological strength moving from a quantitative accumulation to a qualitative leap; the economic structure has been continuously optimized, and coordinated development has been solidly advanced; ecological and environmental protection has undergone historical, pivotal, and holistic changes; the breadth and depth of opening-up to the outside world have been continuously expanded; and the battle against poverty has achieved a complete victory, making China the first developing country to achieve the United Nations poverty reduction goal. Our country's economic strength, technological strength, and comprehensive national strength have leapt to new heights, fully demonstrating the truth-power and practical might of Xi Jinping's economic thought.
Constructing a new development paradigm and playing the "preemptive move" for the initiative in development. A development paradigm is a major choice in development strategy. Constructing a new development paradigm with domestic circulation as the mainstay and domestic and international dual circulation promoting each other is based on the economic circulation theory of Marxist political economy. It profoundly expounds the internal mechanism of the operation of the national economic circulation, emphasizes the fundamental role of the circulation system in the national economy, and is a strategic decision made based on realizing the Second Centenary Goal and coordinating development and security. As the strategic base point for promoting high-quality development, accelerating the construction of a new development paradigm is a major strategic task concerning the overall situation of our country's development. It is a systemic and deep-seated transformation concerning the whole situation, and moreover, a strategic deployment to grasp the initiative for future development. The new development paradigm is not a closed domestic single circulation, but an open domestic and international dual circulation. it is the establishment of a powerful circulation system at a higher quality and a higher level of opening-up. It scientifically answers major questions such as how a large-country economy can smooth its circulation and achieve a higher level of balance between supply and demand. It has not only reshaped China's economic development path but also provided an inspiring Chinese solution for world prosperity and development. Entering the new stage of development, implementing the new development philosophy, and constructing a new development paradigm are organically unified in the great practice of comprehensively building a modern socialist country, providing solid academic support for comprehensively promoting Chinese-path modernization with high-quality development, and shining with the light of truth in the practice of China's high-quality economic development in the New Era.
(The author is the Party Committee Secretary of Renmin University of China)