To scientifically answer the questions of the times brought about by changes in the domestic and international situations

　　Since the 18th CPC National Congress, given the complex changes in the domestic and international situations, General Secretary Xi Jinping developed a profound insight into the right direction of history and the overarching trend of future development, proposed "a strategy of national rejuvenation amid global changes of a magnitude not seen in a century", and raised the question of "what has happened to the world and how should we respond" All of these are logic starting point leading us to grasp the underlying trend of the times and plan our coping strategies.

　　First, how to achieve strong, sustainable, balanced, and inclusive growth in a time of economic downturn? The CPC Central Committee with Comrade Xi Jinping at its core put forth a slew of China's propositions, including "building a community with a shared future for mankind" and the Global Development Initiative (GDI), contributing Chinese solutions and wisdom to the international community.

　　Second, how to obtain the leading position in research and development in the world as a new round of sci-tech revolution and industrial transformation is deepening? The sci-tech revolution and industrial transformation in the world are gaining momentum, substantially boosting social productivity. General Secretary Xi Jinping laid out an array of important conclusions based on such notions as "treating innovation as the primary driving force for development", "being committed to an independent innovation path with Chinese characteristics", and "working faster to build China into a scientific and technological powerhouse".

　　Third, how to make proactive strategic moves in development security, as world economic growth is overshadowed by growing factors of instability and uncertainty? General Secretary Xi Jinping clearly put forward that we must resolutely pursue a holistic approach to national security, emphasizing the need to prevent and resolve major risks and create a development environment conducive to economic security.

　　Fourth, how to fundamentally transform the economic development philosophy and model as China's economy is transitioning from a phase of rapid growth to a stage of high-quality development? Whether the development philosophy is right or not determines the development effect and even its success or failure. General Secretary Xi Jinping put forward a new development philosophy featuring innovative, coordinated, green, open, and shared growth, deepening of supply-side structural reform, establishment of a new development paradigm, and other important conclusions.

　　Fifth, how to stay committed to the reform and opening-up as deep-seated institutional problems become increasingly evident in the country? General Secretary Xi Jinping reiterated that China will never drag its feet on reform and opening-up.

　　Sixth, how to constantly enhance people's sense of fulfillment, happiness, and security as the principal contradiction facing Chinese society has evolved. General Secretary Xi Jinping has always been concerned about the people. He clearly proposed to adhere to the people-centered development philosophy and achieve more notable and substantial progress in promoting well-rounded human development and achieving common prosperity for everyone.

　　To lead China's economic development to secure historic achievements and shifts

　　Since the 18th CPC National Congress, the CPC Central Committee with Comrade Xi Jinping at its core, based on the developments and changes in global and national conditions, has pursued a strategy of national rejuvenation amid global changes of a magnitude not seen in a century, brought new patterns and characteristics to light, grasped new trends and new directions, and offered profound solutions to a series of fundamental, strategic issues of guiding significance concerning the overall economic development of China. A slew of new ideas, new thinking, and new strategies have been put forward to lead China's economy to a path of higher-quality development that is more efficient, equitable, sustainable, and secure.

　　First, stepping up strategic planning and unified leadership over economic work and moving faster to translate our country's institutional strengths into effective governance. The Party has concentrated on economic development as the central task, improved its institutions and mechanisms for leading economic development, and ensured top-level design, overall planning, better coordination, holistic advancement and solid implementation. It pays great attention to optimizing economic governance methods from the perspective of systems theory, ensures a coordinated national response, keeps the central and local governments fully motivated, coordinates all our efforts to complete key national undertakings, and effectively unleashes and develops the productive forces. The CPC Central Committee has made major plans for poverty alleviation and epidemic prevention and control. As a result, we won the battle against poverty on schedule and lead the world in terms of economic development and COVID-19 containment.

　　Second, upholding and improving China's basic economic system and ensuring a robust economy. The Party has comprehensively deepened the economic system reform, expedited the building of a high-standard market system, and contain disorderly expansion of capital. The socialist market economy keeps improving. The state-owned economy becomes more competitive, innovative, risk-resilient, and capable of exerting a greater level of influence and control over the economy; the environment for private economic development has been continuously optimized; market entities are more vital. The Party has worked to ensure personal income grows basically in step with economic growth and pay rises in tandem with increases in productivity.

　　Third, pursuing the innovation-driven development strategy and creating new drivers of growth. Setting our sights on the global frontiers of science and technology, national economic development, the major needs of the country, and the health and safety of the people, the Party has fully implemented the strategy for invigorating China through science and education, the workforce development strategy, and the innovation-driven development strategy and sped up efforts to build China into an innovative country and a scientific and technological powerhouse. It has made self-reliance in science and technology the strategic pillar for the country's development and strengthened China's capabilities in strategic science and technology, to achieve breakthroughs in core technologies in key fields. The Party endeavors to establish a system of technological innovation in which enterprises play the leading role, the market points the way, and enterprises, universities and research institutes work together and create a good atmosphere that encourages bold innovation, courage to innovate and inclusive innovation in society.

　　Fourth, optimizing and upgrading economic structure and making remarkable progress in high-quality development. The Party has put quality first and given priority to performance, pursued high-quality development as the general aim, advanced supply-side structural reform as the main task, and accelerated the construction of a modern economic system and transformation of the economic development model. It has worked to promote the effective coordination of demand-side management and supply-side structural reform, achieved a dynamic equilibrium on a higher level, in which demand and supply can boost each other, and significantly improved the overall efficiency of the national economic framework.

　　Fifth, improving macroeconomic governance and maintaining stable, healthy, and sustainable economic development. The Party has given full play to the strategic guidance of national development plans and aligned different plans with the national development plans. With fiscal and monetary policies as the main lever, it has elevated the status of employment-first policy to a macro policy and perfected the mechanism for close alignment between industrial, investment, consumption, environmental protection, and regional policies. The Party has strengthened international macroeconomic policy coordination, appropriately designed cross-cycle policies, improved the ability for counter-cyclical adjustments, taken expectation management as an important part of macroeconomic governance, and promoted overall economic balance, structural optimization, and internal and external balance.

　　Sixth, promoting the coordinated development of urban and rural areas and different regions and achieving much more balanced and coordinated economic development. Since the 18th CPC National Congress, General Secretary Xi Jinping planned and advanced the implementation of major regional strategies, promoting coordinated development of the Beijing-Tianjin-Hebei region, the development of the Yangtze Economic Belt and the Guangdong-Hong Kong-Macao Greater Bay Area, integrated development in the Yangtze River Delta, ecological protection and high-quality development in the Yellow River basin, and high-quality construction of Xiong'an New Area to a high standard. The Party has thoroughly implemented the coordinated regional development strategy, leading the large-scale development of the western region into a new phase, bringing about new breakthroughs in the revitalization of the northeast, opening up new frontiers for high-quality development of the central region, and accelerating the pace of modernization in eastern region. Besides, the working and living conditions in old revolutionary base areas, areas with large ethnic minority populations, border areas, and impoverished areas have been greatly improved. The Party has implemented the coordinated new urbanization strategy and rural revitalization strategy, with the shaping of a new type of industrial-rural urban-rural relationship, featuring industry-agriculture and urban-rural synergies and coordinated development leading to shared prosperity.

　　Seventh, fending off and defusing major risks and ensuring development and security. The Party has comprehensively advanced practical, theoretical, and institutional innovation in national security, put into practice a holistic approach to national security, found a balance between development and security, and moved faster to build a holistic national security architecture. It has actively responded to risks and challenges, improved the risk prevention and defusing mechanism, and been ever ready to determine and deal with potential major economic risks. With such efforts, the ability to ensure food, energy, and resource security as well as the security of industrial and supply chains is improving, and substantial progress has been made in the battle against potential financial risks.

　　Eighth, pursuing a more proactive strategy of opening-up and celebrating new and greater strengths in international economic cooperation and competition. The Belt and Road Initiative (BRI) develops continuously in cooperation and has become the world's broadest-based and largest platform for international cooperation and the most popular international public goods. The Party has actively participated in the reform and development of the global governance system. It is establishing an open economy that is diverse, balanced, secure, and efficient and brings benefit to all, optimizing the layout to build pilot free trade zones, promoting trade and investment liberalization and facilitation, and working to bring about a new phase of all-around two-way opening-up with links running eastward and westward over land and sea.

　　Ninth, working hard to ensure and improve people's well-being and accomplishing the goal of building a moderately prosperous society in all respects on schedule. Efforts have been focused on providing inclusive public services, meeting essential needs, and ensuring basic living standards. To this end, we must do everything within our capacity. People's sense of fulfillment, happiness and security has been significantly enhanced. The Party has prioritized poverty elimination in its governance and won the most extensive and aggressive anti-poverty campaign in human history, bringing about a historic resolution to the problem of absolute poverty that had plagued China for thousands of years.

　　Invaluable experience and inspiration of China's economic development in the new era

　　First, upholding the Party's overall leadership over economic work. We will put into practice the Party's leadership in all fields, all aspects and all links in economic work, maintain strategic focus, focus on the main theme and task, and mobilize all strengths that can be mobilized to create a mighty force for development, to provide fundamental political guarantees for the implementation of the decisions and plans of the CPC Central Committee.

　　Second, adhering to the philosophy of people-centered development. We will put the people's interests above all else, fulfill the people's expectation for better lives, ensure that development depends on people, ensure and enhance people's wellbeing in the course of development, with its benefits shared by the people. We are going to solve the most pressing and real problems of the greatest concern to them and promote well-rounded human development and common prosperity for all.

　　Third, fully, accurately, and comprehensively implementing the new development philosophy. We will follow the guidance of the new development philosophy and establish a correct outlook on development and modernization. Based on new requirements at the new development stage, we will plan and put forth more accurate and practical measures, solve problems caused by unbalanced and inadequate development, and lead and achieve high-quality development.

　　Fourth, ensuring better alignment between an efficient market and a well-functioning government. We will make good use of both the invisible and visible hands, build better systems and mechanisms for market-based allocation of production factors, give full play to the government's role in macro regulation, and effectively galvanize market entities of all types, to maximize the benefit and efficiency of resource allocation.

　　Fifth, comprehensively deepening reform and opening-up. We will work to ensure that reform stays on the right path, pursue a more proactive opening-up strategy, and facilitate reform, development, and innovation with opening-up, to further unleash and develop the productive forces and boost international economic competitiveness.

　　Sixth, finding a balance between development and security. We will improve risk awareness, prioritize both development and security, consolidate the foundation of national security with development achievements, and improve the ability for risk resolving and security governance, to realize a benign relationship and dynamic balance between high-quality development and high-level security.

　　Seventh, pooling resources and concentrating on managing China's affairs well. We will firmly follow our own path and concentrate on managing China's affairs well. We must continue to pursue economic development as our central task, promote sci-tech self-reliance and self-strengthening at higher levels, create a robust domestic market, and establish at a faster pace the new development paradigm featuring dual circulation, in which domestic and overseas markets reinforce each other, with the domestic market as the mainstay.

　　Eighth, adhering to the correct working strategies and methods. Since the 18th CPC National Congress, a series of correct strategies and scientific methods have been put in place, including acting on the general principle of pursuing progress while ensuring stability, applying systems thinking, integrating goal-oriented with problem-oriented approaches, and resolving problems with force and tenacity as a hammer drives a nail. 

　　By Xi Jinping Thought on Economy Study Center