China Social Science Review

No.3, 2024

 “Five Musts”: China’s Governance to Improve Macroeconomic Governance

(Abstract)

Liu Wei

The theory and practice of “macroeconomic governance” is an important breakthrough in China’s economic development and exploration since the new era. In recent years, the key reason for the continuous improvement of China’s macroeconomic governance system and the gradual enhanced macroeconomic governance capacity is that the Communist Party of China (CPC) Central Committee with Comrade Xi Jinping at its core is good at understanding and following objective economic laws, and basing macroeconomic governance on continuously deepening the understanding of the laws of economic work. The “five musts” reflect the long-term accumulation of the CPC’s understanding of the laws of economic work, especially the deepening of theoretical exploration since entering a new stage of development, and is a theoretical response to promote the Chinese path to modernization with high-quality development. Based on the new journey, flexibly applying economic laws has become a practical requirement for China to further improve macroeconomic governance.