Social Sciences in China (Chinese Edition)

No. 4, 2024

The Historic Contribution of Socialist Political Economics with Chinese Characteristics

(Abstract)

Zhang Yu

Since the founding of the People’s Republic of China, particularly following the reform and opening up, the Communist Party of China (CPC) has steadfastly advanced the sinicization and modernization of Marxist political economics. Through the practice of socialist economic construction with Chinese characteristics, it has pioneered a distinct form of socialist political economics tailored to the Chinese context. As the latest theoretical achievement of Marxist political economics in contemporary China and globally of the 21st century, Xi Jinping’s economic thought profoundly reflects the CPC’s new understanding of the laws of economic development. With enhanced subjectivity, originality, systematization, and rich theoretical achievements, it not only provides a scientific guide for China’s pursuit of high-quality economic development and the comprehensive construction of a modern socialist country, but also propels socialist political economics with Chinese characteristics onto a new stage. In doing so, it contributes uniquely Chinese perspectives to the innovative development of Marxist political economics.