I. Promoting the great rejuvenation of the Chinese nation through a Chinese path to modernization is the goal of China's economic development, and bringing prosperity for all is an important feature of Chinese modernization

　　Advancing national rejuvenation through a Chinese path to modernization is the goal of China's economic development. General Secretary Xi Jinping pointed out that achieving common prosperity is a defining feature of socialism with Chinese characteristics and an important feature of Chinese modernization. The key to national rejuvenation through a Chinese path to modernization lies in the efforts to further release and develop the productive forces and gradually realize the goal of common prosperity for all.

　　"Governance of a country starts with the needs of the people, and that their prosperity is the responsibility of the government." Our Party has always followed a people-centered approach, and taken common prosperity as the fundamental requirement of socialist modernization. Since the 18th CPC National Congress, the Party Central Committee with Comrade Xi Jinping at its core has placed the gradual realization of common prosperity for all in a more important position. The fifth plenary session of the 19th CPC Central Committee proposed that by 2035, more notable and substantive progress will be made toward achieving common prosperity for everyone, highlighting the requirement of common prosperity for all in a set of long-range objectives for China to basically achieve socialist modernization.

　　To promote national rejuvenation through a Chinese path to modernization and gradually realize common prosperity for all, we must make sustained efforts and ensure enduring progress. On the one hand, we should pursue with dedication the central task of economic development, and rely closely on the joint efforts of the Chinese people to make the "cake" of economy bigger and better, so as to lay a more solid material foundation for achieving common prosperity for all. On the other hand, we should build an institutional framework under which primary, secondary, and tertiary distribution are well coordinated and mutually complementary, and divide and distribute the "cake" properly through rational institutional arrangements, enabling the whole people to make solid progress toward the goal of common prosperity.

　　II. Upholding and strengthening the Party's overall leadership is the fundamental guarantee for China's economic development, and improving the people's wellbeing is the fundamental starting point and goal of the Party's leading economic work

　　Economic development is the central task of the Party, and the Party should lead all aspects of economic work. The CPC is a party that serves the people and always represents the interests of the people. The most basic aim of strengthening the Party's leadership over economic work is to effectively seeking happiness for the people and continuously improving their wellbeing.

　　"The aspirations of the people are what our government always strives for." General Secretary Xi Jinping stressed that,standing on the people's side is the fundamental political stance of the CPC and a hallmark that distinguishes Marxist political parties from other political parties. Since the 18th CPC National Congress, the Party Central Committee with Comrade Xi Jinping at its core has stayed true to our fundamental purpose of serving the people wholeheartedly, endeavored to meet the fundamental goal of satisfying the people's ever-growing desire for a better life, and fully enhanced top-level design and overall layout for major work in the economic field.

　　To uphold and strengthen the Party's overall leadership of economic work, we must strive for the interests of the people. We should always bear in mind that putting the people first is the fundamental prerequisite for making right decisions. In the process of deploying economic work, formulating economic policies and promoting economic development, we should stand firmly with the people, keep the people's interests uppermost in mind, and make right decisions to meet the people's aspirations for a better life.

　　III. Full, accurate and comprehensive application of the new development philosophy is the guiding principle of China's economic development, and championing the fundamental purpose of serving the people wholeheartedly is essential for the new development philosophy

　　Actions are driven by philosophies. The new philosophy that development must be innovative, coordinated, green, open and shared is the guiding principle of China's economic development. General Secretary Xi Jinping required us to understand the new development philosophy from the perspective of the fundamental purpose, and underscored that the "roots" and "soul" of the new development philosophy lie in striving for people's wellbeing and national rejuvenation. To fully and faithfully apply the new development philosophy on all fronts, it is crucial to apply a people-centered development philosophy.

　　As a Chinese saying goes, "Heaven and earth are all-encompassing, but the people are the foundation of a country." In the process of leading China's economic development, our Party has always taken serving the people wholeheartedly as its fundamental purpose, and strived to make sure that all the people share the fruits of development. Since the 18th CPC National Congress, the Party Central Committee has embraced the new development philosophy, worked tirelessly to ensure that development is for the people and by the people and that its fruits are shared by the people, effectively improved the wellbeing of the people, and continuously met the people's yearning for a better life.

　　The new development philosophy is the baton and traffic light. We must start from the fundamental purpose, accurately and comprehensively understand the "roots" and "soul" of the new development philosophy. We should ensure the principal position of the people, respect their pioneering spirit, rely on their strength to promote innovative development, strive to address uneven and inadequate development, and improve the living environment and ecological environment for them, laying a more solid foundation for raising the people's living standards.

　　IV. Accelerating the creation of a new development pattern is the path forward for China's economic development, and raising the quality of people's life is the top priority of creating a new development pattern

　　Accelerating efforts to foster a new pattern of development that is focused on the domestic economy and features positive interplay between domestic and international economic flows is a strategic choice to adapt to the new development stage in China, to forge new advantages in global economic cooperation and competition, as well as to raise the level of China's economic development. Increasing the quality of people's life is the immutable goal of smoothing the domestic circulation, and also the key link for mutual reinforcement of domestic and international economic flows.

　　"We should communicate between the top and the down, and distinguish the internal and the external, so that our work can proceed in an orderly manner." Since the 18th CPC National Congress, we have implemented the strategy to expand domestic demand, and the feature of economic flows with the domestic market as the mainstay has become increasingly obvious. Under the strong support of the supersized domestic market as well as the consumption growth and upgrading brought by the continuous improvement of people's life quality, the domestic circulation is becoming more and more robust.

　　To create a new development pattern, we must make sure that keeping economic circulation unobstructed is integrated with increasing the quality of people's life. By effectively expanding domestic demand and cultivating a robust domestic market, we can make domestic circulation smoother and achieve the mutual reinforcement of domestic and international circulations, thus realizing the positive interaction between improvement of people's life quality and smooth national economic circulation.

　　V. Pursuing high-quality development and advancing supply-side structural reform are the main theme and the main task of China's economic development respectively, and action in meeting people's aspiration for a better life is something inherent in the concepts of high-quality development and supply-side structural reform

　　High-quality development concerns the overall situation of China's socialist modernization drive, and it will remain the theme for the country's economic and social development in the 14th Five-Year Plan (2021-2025) period and beyond. Both in the immediate future and for some time to come, supply-side structural reform will remain the main task of China's economic development and work. General Secretary Xi Jinping noted that "high-quality development can meet the people's ever-growing desire for a better life", and stressed that "the ultimate goal of supply-side structural reform is to meet the needs".

　　As a Chinese saying goes, "A man of wisdom adapts to changes; a man of knowledge acts by circumstances." General Secretary Xi Jinping pointed out that economic development is not a linear rise but a progressive spiral, and when the accumulation of quantity has reached a certain stage, we must shift to qualitative improvement; and made it clear that both in the immediate future and for some time to come, China's economic development has cyclical and quantity problems, and the biggest challenge confronting our economy is in its structure and particularly in the supply side.

　　To promote high-quality development and deepen supply-side structural reform, we should always take better meeting people's ever-growing needs for a better life as the fundamental direction of improving the quality and efficiency of development. We should make sustained efforts to meet the personalized, diversified and continuously upgraded needs of the people, usher in a higher stage of well-adjusted balance where high-quality demand drives high-quality supply and high-quality supply, in turn, creates high-quality demand, and better meet the ever-growing needs of the people for a better life in the process of releasing and developing the productive forces.

　　By Xi Jinping Thought on Economy Study Center