Theoretical Learning Center Group of the Council of the Institute of Party History and Literature of the CPC Central Committee: Continuously Breaking New Ground in Contemporary Chinese Marxist Political Economy
Xi Jinping’s economic thought was established and developed during the extraordinary journey of the Party Central Committee, with Comrade Xi Jinping at its core, as it observed general trends, planned for the overall situation, performed concrete deeds, and successfully steered the broader landscape of China’s economic development. The first volume of the Selected Economic Works of Xi Jinping centrally reflects the principles, theories, and philosophies of this important thought as it continuously opened up new frontiers of theoretical innovation by adapting to new circumstances, resolving new problems, and responding to new challenges. It is permeated with General Secretary Xi Jinping’s profound reflection and scientific judgment on major theoretical and practical issues regarding China’s economic construction in the New Era. It showcases the magnificent historical process and world-renowned achievements of China's economic development in the New Era, containing distinct historical and theoretical logic, and embodying the rich connotations and practical requirements of Xi Jinping’s economic thought.
I. Proposing a series of major judgments and assertions concerning the overall developmental situation of China's economy, and clearly answering the questions of how to view the economic situation and how to conduct economic work.
Following the 18th National Congress of the Communist Party of China (CPC), the economic situation both at home and abroad was extremely complex, with both the world economy and China’s economy facing many major new issues. The deep-seated impacts of the international financial crisis continued to spread, world economic recovery was sluggish, international trade was depressed, and protectionism was on the rise. Domestically, downward pressure on the economy continued to increase, structural and institutional contradictions became prominent, and problems of unbalanced, uncoordinated, and unsustainable development became significant. The first volume of the Selected Economic Works of Xi Jinping includes 31 important manuscripts from General Secretary Xi Jinping between the 18th and 19th CPC National Congresses, providing scientific answers on how to view the economic situation and conduct economic work in the New Era, and centrally reflecting the formation and development of Xi Jinping’s economic thought during this historical stage.
In December 2012, at the first Central Economic Work Conference [1] held after the 18th CPC National Congress, General Secretary Xi Jinping clearly pointed out that the Party's leadership over economic work must be effectively strengthened. Since the 18th National Congress, the Party Central Committee has continuously improved the systems and mechanisms for leading economic work, strengthened the analysis and mastery of the overall developmental trend, formulated major policies and decisions in a timely manner, and deployed major tasks. This ensures that the Party’s leadership over economic work is implemented effectively, guaranteeing that China’s economy develops in the correct direction. In July 2013, at a meeting of the Standing Committee of the Political Bureau of the CPC Central Committee, General Secretary Xi Jinping pointed out that China's economy was in a phase where the "period of shifting gears" in growth rate, the "period of labor pains" in structural adjustment, and the "period of absorbing" previous stimulus policies were overlapping [2]. In December 2013, at the Central Economic Work Conference, General Secretary Xi Jinping proposed the major judgment of the "new normal" [3]. In December 2014, at the Central Economic Work Conference, General Secretary Xi Jinping profoundly analyzed the reasons why China’s economic development had entered the new normal, emphasizing that understanding, adapting to, and leading the new normal is the primary logic of China’s economic development for the present and the period ahead. This allowed for a historical and dialectical understanding of the situation and tasks facing China's economic development.
In the face of complex circumstances, General Secretary Xi Jinping clearly emphasized that adhering to the general principle of seeking progress while maintaining stability is an important principle for our national governance and a methodology for doing economic work well. Our Party has consistently adhered to the general principle of seeking progress while maintaining stability, assessing the situation, reflecting deeply, respecting objective laws, and mastering the rhythm and intensity of work to strive for progress while ensuring overall stability. Addressing a series of prominent contradictions and challenges facing China's development, the Third Plenary Session of the 18th CPC Central Committee in November 2013 made deployments for comprehensively deepening reform, resulting in a series of major breakthroughs in reform theory and policy. General Secretary Xi Jinping emphasized that the core issue of economic structural reform is handling the relationship between the government and the market well, ensuring that the market plays the decisive role in resource allocation and the government plays its role better. The Party Central Committee promptly adjusted its approach to macroeconomic regulation and deepened supply-side structural reform, providing a fundamental cure for maintaining the sustained and healthy development of China's economy.
Regarding issues of overall and long-term significance, in October 2015, at the Fifth Plenary Session of the 18th CPC Central Committee, General Secretary Xi Jinping proposed the people-centered development philosophy along with the development concepts of innovation, coordination, green development, openness, and sharing. He emphasized that adhering to the new development philosophy is a profound transformation affecting the overall development of our country. Since the 18th National Congress, the Party Central Committee has proposed and implemented a series of major development strategies. These include the innovation-driven development strategy; the Beijing-Tianjin-Hebei coordinated development strategy, with a focus on relieving Beijing of functions non-essential to its role as the capital; the Yangtze River Economic Belt development strategy, based on the principle of "promoting well-coordinated protection and avoiding large-scale development"; the new-type urbanization strategy, centered on people's urbanization and guided by quality improvement; and the national food security strategy characterized by self-reliance, domestic focus, production capacity guarantee, moderate imports, and technological support. These have had a profound impact on the transformation of China’s economic development.
On March 21, 2025, a major national science and technology infrastructure project—Phase II of the Meridian Project—passed national inspection, marking the completion of China's comprehensive ground-based monitoring facility covering all layers of the Sun-Earth space environment. This will significantly enhance China’s space weather forecasting and early warning capabilities. The photo shows the Interplanetary Scintillation (IPS) telescope, one of the large-scale monitoring devices of Phase II of the Meridian Project. (Photo by Xinhua News Agency; provided by the National Space Science Center)
From the 18th to the 19th CPC National Congress, Xi Jinping’s economic thought gestated and took shape as the Party continuously explored laws, deepened understanding, unified thinking, and made correct decisions. Under the guidance of a series of major theories and concepts, our Party has scientifically understood the economic situation, accurately judged future trends, and profoundly grasped the laws of economic development, imparting new contemporary connotations to Marxist political economy and successfully steering the overall landscape of China’s economic development. China’s economy has maintained medium-to-high-speed growth, ranking among the top of the world's major economies. Its total economic volume has remained stable as the world's second-largest, achieving major structural transformations that had been sought for many years but remained elusive. Agricultural modernization has progressed steadily, regional development coordination has been enhanced, the construction of an innovative country has yielded fruitful results, and the new system for an open economy has been gradually improved.
II. Bases on China's new historical orientation for economic development, forming and developing a scientific ideological system with rich connotations, rigorous logic, and a complete structure.
Following the 19th CPC National Congress, anchored to the goals of finishing the building of a moderately prosperous society in all respects and promoting high-quality development, Xi Jinping’s economic thought has continued to develop in practice. The 27 important manuscripts from General Secretary Xi Jinping between the 19th and 20th CPC National Congresses, included in the first volume of the Selected Economic Works of Xi Jinping, are a vivid embodiment of how Xi Jinping’s economic thought continued to develop and lead the steady progress of the Chinese economy during this historical stage.
Correctly recognizing and accurately grasping our historical orientation and stage of development are important experiences for promoting the smooth economic and social development of our country. In October 2017, in his report to the 19th CPC National Congress, General Secretary Xi Jinping profoundly expounded on the major changes in the principal contradiction in our society and the historical transition in our stage of economic development. He pointed out that Socialism with Chinese Characteristics has entered a New Era, and the principal contradiction in our society has evolved into the contradiction between unbalanced and inadequate development and the people’s ever-growing needs for a better life. Furthermore, China’s economy has transitioned from a stage of high-speed growth to a stage of high-quality development.
The change in the principal contradiction of our society is a historical change affecting the overall situation, placing many new requirements on the work of the Party and the state. The Central Economic Work Conference held in December 2017 explicitly proposed and expounded for the first time on "Xi Jinping Thought on Socialist Economy with Chinese Characteristics for a New Era" (i.e., Xi Jinping’s economic thought). This is the theoretical crystallization of our Party’s efforts to promote the practice of China’s economic development since the 18th National Congress. It is a rational summation of the political economy of Socialism with Chinese Characteristics using the basic principles of Marxism, and it is a precious spiritual wealth for the Party and the country.
With the completion of the building of a moderately prosperous society in all respects and the realization of the First Centenary Goal, China has entered a new development stage—a new journey toward the comprehensive construction of a modern socialist country and the realization of the Second Centenary Goal. How to accurately grasp this temporal orientation, scientifically judge the internal and external environments, and clarify the path for future development became a major new task facing the Party and the people. General Secretary Xi Jinping reflected deeply on this issue, and in April 2020, he first proposed the construction of a new development pattern with the domestic cycle as the mainstay and the domestic and international dual cycles reinforcing each other. In October 2020, the Fifth Plenary Session of the 19th CPC Central Committee made systematic plans and strategic deployments for grasping the new development stage, implementing the new development philosophy, constructing the new development pattern, and promoting high-quality development during the 14th Five-Year Plan period. The Party Central Committee insisted on quality first and efficiency as the priority, improved total factor productivity, and took the progression of supply-side structural reform as the main thread of economic work. Efforts were focused on accelerating the construction of an industrial system characterized by the coordinated development of the real economy, technological innovation, modern finance, and human resources. Work was done to build an economic system with effective market mechanisms, dynamic micro-entities, and moderate macro-regulation, promoting changes in the quality, efficiency, and driving forces of economic development.
From the 19th to the 20th CPC National Congress, Xi Jinping’s economic thought has directly confronted the new problems and challenges facing China’s economic development. It has profoundly summarized and fully utilized the successful experience of leading China’s high-quality development, forming and developing a scientific ideological system with rich connotations, rigorous logic, and a complete structure, leading to a historic leap in China’s economic strength. China’s Gross Domestic Product surpassed the 100 trillion yuan mark, and its per capita GDP exceeded 10,000 US dollars. Total grain output remained the world's highest, effectively ensuring the food and energy security of over 1.4 billion people. The scale of manufacturing remained the world's largest, and the world’s largest high-speed railway and expressway networks were completed, marking significant achievements in infrastructure construction. Major progress was made in scientific and technological innovation, with frequent successes from major projects such as Chang'e-4. The China International Import Expo has been held consecutively, the joint construction of the Belt and Road Initiative has been solidly advanced, and opening-up to the outside world has expanded in all directions. The rural revitalization strategy was vigorously implemented, and the urbanization rate of the permanent population exceeded 60% for the first time. Major regional strategies and coordinated regional development strategies were deeply implemented. The "Three Tough Battles" against major risks, for targeted poverty alleviation, and against pollution achieved decisive victories. China's economy has embarked on a path of development that is of higher quality, more efficient, fairer, more sustainable, and more secure.
III. Centering on the central task of Chinese-path modernization, continuously deepening the systematic understanding of the laws governing economic work.
Since the 20th CPC National Congress, and with a view toward comprehensively advancing the great cause of building a strong country and national rejuvenation through Chinese-path modernization, the Party Central Committee with Comrade Xi Jinping at its core has adhered to theoretical innovation in economic work. It has promptly summarized experience, deepened its understanding of laws, and conducted in-depth research on new situations and problems facing the world economy and China’s economy. This has resulted in a series of new thoughts, viewpoints, and assertions that reveal new characteristics and laws. The 16 important manuscripts of General Secretary Xi Jinping from the 20th CPC National Congress to December 2024 included in the first volume of the Selected Economic Works of Xi Jinping are a brilliant presentation of this historical process.
Through ten years of continuous struggle in the New Era, China’s economy has shifted toward high-quality development, achieving historic successes and undergoing historic changes. China’s development stands at a new and higher historical starting point. The Party Central Committee has scientifically grasped the new circumstances of the new journey, clarifying the central task of comprehensively building a modern socialist powerhouse, achieving the Second Centenary Goal, and advancing the great rejuvenation of the Chinese nation through Chinese-path modernization. Systemic expositions and comprehensive deployments for advancing Chinese-path modernization have been made. In October 2022, in his report to the 20th CPC National Congress, General Secretary Xi Jinping made a two-step overall strategic arrangement for comprehensively building a modern socialist powerhouse, further clarifying that high-quality development is the primary task in building a modern socialist country in all respects. Entering 2023, General Secretary Xi Jinping creatively proposed the concept of new quality productive forces and the major task of developing them. He clarified that developing new quality productive forces is an inherent requirement and an important focus for promoting high-quality development, requiring the development of new quality productive forces tailored to local conditions and the smooth transition and connection between old and new development drivers.
To continuously enhance the endogenous momentum and vitality of development, the Party Central Committee has scientifically planned major measures to further comprehensively deepen reform, injecting strong and continuous impetus into promoting high-quality development and advancing Chinese-path modernization. In July 2024, at the Third Plenary Session of the 20th CPC Central Committee, General Secretary Xi Jinping pointed out that further comprehensively deepening reform must proceed closely around the theme of advancing Chinese-path modernization. The "Decision of the CPC Central Committee on Further Comprehensively Deepening Reform and Advancing Chinese-path Modernization," deliberated and adopted at the session, deployed more than 300 important reform measures involving systems, mechanisms, and institutional levels. These cover all aspects of advancing Chinese-path modernization, constructing a panoramic blueprint for further comprehensively deepening reform.
Facing the complex and severe situation of increased external pressure and rising internal difficulties—especially the mounting downward pressure on the economy—General Secretary Xi Jinping presided over a meeting of the Political Bureau of the CPC Central Committee on September 26, 2024. The meeting produced a scientific assessment of the economic situation and decisively deployed a package of incremental policies, which effectively boosted social confidence and drove a significant economic recovery. Throughout 2024, economic performance followed a trend of "starting high, dipping mid-year, and rising at the end," fully validating the superb wisdom and exceptional ability of the Party Central Committee with Comrade Xi Jinping at its core to navigate economic work amidst complex and volatile circumstances. In December 2024, at the Central Economic Work Conference [7], General Secretary Xi Jinping proposed a systematic understanding summarized as "one greatest consensus and five necessary integrations" [8]. He emphasized that the centralized and unified leadership of the Party Central Committee is the fundamental guarantee for doing economic work well, which constitutes the greatest consensus formed across the entire Party.
This series of new ideas, viewpoints, and judgments since the 20th CPC National Congress has further enriched and developed Xi Jinping Economic Thought, providing ideological guidance for economic work in the coming period. The clearer the understanding, the more steadfast the action [9]. Under the guidance of Xi Jinping Economic Thought, our nation's economy has braved the wind and waves, advancing steadily along the course of high-quality development. The trend of "stability" has been consolidated and sustained, the pace of "progress" has been firm and powerful, and the momentum of "innovation" has grown robustly. In 2024, China's GDP approached 135 trillion yuan, with a growth rate ranking among the top of the world's major economies, maintaining a contribution rate of approximately 30% to global economic growth. The balance of payments remained basically stable, the scale of foreign trade reached a record high, and the international market share rose steadily. New quality productive forces developed steadily, strategic emerging industries grew in strength, and new drivers and advantages were forged at an accelerated pace. Grain output reached a new milestone of 1.4 trillion jin [10] for the first time. Macro policies such as the "Two Guarantees" [11] construction and "Two News" [12] initiatives continued to exert force, effectively stimulating the potential of domestic demand and showing a sustained integrated effect on boosting resident consumption, expanding effective investment, and accelerating the green transition. Risks in the economic and financial sectors were effectively mitigated, the economic cycle gradually improved, and market confidence was significantly bolstered. China's economic strength has achieved a historic leap, and Chinese-path modernization has taken new, solid steps forward.
IV. Continuously Opening New Realms for Contemporary Chinese Marxist Political Economy in the Historical Process of Scientifically Answering New Questions of the Times
The formation and development of Xi Jinping Economic Thought across different historical stages possess distinct temporal backgrounds, historical connotations, and evolutionary trajectories. As Marx pointed out, "If we study each of these evolutions separately and then compare them, we will easily find the key to understanding this phenomenon." Looking back at history, we can see that the key to deeply understanding and scientifically grasping the historical logic of Xi Jinping Economic Thought lies in its firm historical confidence, respect for historical laws, maintenance of historical patience, and mastery of historical initiative. In the historical process of scientifically answering new questions of the times, it continuously opens new realms for contemporary Chinese Marxist political economy.
The "New Three" [13] products, represented by new energy vehicles (NEVs), have become a brilliant "calling card" for Chinese manufacturing in the New Era. In 2024, China's production and sales of NEVs both exceeded 12 million units. In January 2025, automobile exports stood at 470,000 units, of which 150,000 were NEVs, a year-on-year increase of 49.6%. The photograph shows the scene of export vehicles being loaded at the Lianyungang Port Oriental Port Branch terminal in Jiangsu Province on February 21, 2025. (Photo by Xinhua News Agency / Wang Chun)
Xi Jinping Economic Thought possesses a distinct character of the times and is an economic theory that advances with the times. The era is the mother of thought, and the questions of the times are the driving force for theoretical innovation. Continuous innovation in tandem with the development of the era is the source of momentum for the birth and development of Marxist political economy, and the secret to this science's eternal vitality. Xi Jinping Economic Thought stands at the forefront of the era, discerning its winds and clouds and grasping its pulse. It remains unswervingly committed to economic construction as the center, treating economic work as the central task of the Party’s governance, while accurately identifying changes, scientifically responding to them, and proactively seeking them. From judging that China's economic development was in the specific stage of "the overlapping of three periods" [14] to proposing that economic development has entered a New Normal; from clarifying that China's economy has transitioned from a stage of high-speed growth to a stage of high-quality development to embarking on a new journey of comprehensively building a modern socialist country—Xi Jinping Economic Thought takes a commanding view and assesses the situation. It consistently grasps the historical orientation within the developmental orientation and grasps historical time within temporal history, establishing strategic coordinates and providing strategic guidance for economic work in the New Era.
Xi Jinping Economic Thought possesses a distinct practicality and is an economic theory that adheres to a problem-oriented approach. All epoch-making theories are products that meet the needs of their time. A theoretical leap is not reflected in the novelty of terms or internal logical consistency; in the final analysis, it must be reflected in answering practical questions and guiding practical development. Xi Jinping Economic Thought provides profound insights into the reality and future trends of domestic and international economic development, offering a penetrating analysis of how to respond to the evolution of global and national conditions. From persisting in supply-side structural reform as the "main line of work," to the "two strategic base points" of accelerating the construction of the new development pattern and expanding domestic demand; from adhering to a proactive fiscal policy and a prudent monetary policy to implementing a more proactive fiscal policy and a moderately relaxed monetary policy; from focusing on revitalizing the real economy to accelerating the formation of new quality productive forces, and then to promoting the integrated development of scientific and industrial innovation—Xi Jinping Economic Thought follows the questions and addresses them head-on. It consistently reflects General Secretary Xi Jinping’s profound knowledge, extraordinary insight, and exceptional courage. It guides the entire Party through the turbulent tides of the world economy to master scientific methods of economic analysis, understand the processes of economic movement, grasp the laws of economic development, improve the ability to manage the socialist market economy, and accurately answer and systematically solve the theoretical and practical problems of China's economic development.
Xi Jinping Economic Thought possesses a distinct openness and is an economic theory that bridges history and the future. Historical development knows no end, China's economic development knows no end, and opening new realms for contemporary Chinese Marxist political economy also knows no end. Xi Jinping Economic Thought is a constantly developing and open theory. It is a scientific theory rooted in national conditions, benefiting the people, looking out toward the world, and leading the future. It will surely be enriched and perfected as the great cause of building a strong country and national rejuvenation is advanced across the board. The magnificent process and world-renowned achievements of China's economic development contain immense momentum, vitality, and potential for theoretical creation; it is a "rich mine" for the continuous development of ideological theory. Looking back at history, Xi Jinping Economic Thought has already erected an ideological monument to governing the country and benefiting the people, and to strengthening the nation and enriching the people in the New Era. Looking to the future, the Party Central Committee with Comrade Xi Jinping at its core will surely continue to summarize and distill the law-governed results of China's economic development practice, elevating practical experience into a systematic economic theory. It will continuously open new realms for contemporary Chinese Marxist political economy and continue to contribute Chinese wisdom to the innovative development of Marxist political economy.
History and practice have fully proven that the reason the ship of China's economy in the New Era has braved the wind and waves and sailed steadily and far lies fundamentally in General Secretary Xi Jinping’s navigation at the helm and the scientific guidance of Xi Jinping Economic Thought. Xi Jinping Economic Thought is rooted in our national conditions and developmental practice, closely following the periodic characteristics of China's economic development and revealing its historical laws. It responds to the changes of the times, stands at the crest of the era’s waves, and speaks with the voice of the时代 era. It profoundly answers the questions of the times, the people, and history regarding China's economic development. It contains a broad historical perspective, firm cultural confidence, and profound strategic considerations, pointing out the correct direction and providing the fundamental follows for doing economic work on the new journey in the New Era. We must combine the study of the first volume of the "Selected Economic Works of Xi Jinping" with the effective study and application of Xi Jinping Economic Thought, effectively transforming the results of our study into a powerful force and vivid practice for comprehensively advancing the building of a strong country and the great cause of national rejuvenation through Chinese-path modernization.