Social Sciences in China (Chinese Edition)

No. 6, 2021

The Philosophical Wisdom of Marxist Political Economy in Contemporary China

(Abstract)

Zhang Xiong

Xi Jinping Economic Thought on Socialism with Chinese Characteristics for a New Era is the latest theoretical achievement of Marxist political economy in contemporary China. It is also an economic doctrine for Chinese Communists pursuit of global economic justice in the 21st century and the realization of socialism with Chinese characteristics aiming to make the country strong and the people rich. The development of Marxist political economy in contemporary China has solid philosophical foundations; it contains the principles of historical materialism, the world outlook and methodology of materialist dialectics, and the essence of traditional Chinese philosophy. The political economy of Chinese Communists is by no means of engineering nature, nor does it simply use technical data to spot market opportunities or warn of risks; rather, it is materialism in practice, which, by revealing the laws of economic development in the philosophical context of historical progress and economic justice, ensure the better governance of the nation.