Xi's political economy renews modernization drive

Changing world

Liu Shangxi, director of the Chinese Academy of Fiscal Sciences, said the advent of the new century saw human civilization usher in a new era distinguished by the declining efficiency of Western countries in terms of economics, society and systems.

"Conversely, emerging countries such as China, with their growing influence, are eager to find an independent path of sustainable development," he said.

Although China's development comes during a period of strategic opportunity, the national economy is facing complex external and internal environments.

Externally, people are concerned about sluggish recovery, a lack of growth momentum, weak trade and investment, and a backlash against globalization.

In the aftermath of the 2008 financial crisis, the global political and economic order, as well as Western social and economic development models, fell short in formulating a viable solution to the crisis. As a result, the problems have still not been fundamentally resolved.

Internally, China's decades-long reform drive is at a crossroads amid the pressing need for a transition in the country's growth model.

Globally, policymakers and researchers in both developed and developing countries are beginning to search for new governance concepts and theories in the hope of building a new international political and economic order, as well as new models of economic and social development.

To that end, China has put forward two centenary goals, pegged to the 100th anniversaries of the CPC and the People's Republic of China, and the Chinese dream of great national renewal.

Liu believes the two goals and the Chinese dream not only embody the demands the Chinese people place on the ruling party, but have also started the nation on a voyage to search for a new path for mankind.

Tian Yingkui, a professor at the Party School of the CPC Central Committee, highlighted the role of the CPC Central Committee, with Xi Jinping as the core, in developing "political economic" theories with Chinese characteristics.

"Based on the CPC's long experience of governance and theoretical confidence, the Party applied Marxist political economy to guide the drive to build a well-off society, and also developed Marxism," Tian said.

During the past four years, a number of developmental approaches have been devised, including the concept of innovative, coordinated, green, open and shared development, the market's decisive role in resource allocation, the new normal and supply-side structural reform.

These theories, which suit both China and the times, have created gateways to realizing the Chinese dream of rejuvenation, he added.

With its mastery of advanced theories, the CPC Central Committee has outlined a strategic blueprint called the "Four Comprehensives", which refers to comprehensively building a moderately prosperous society, comprehensively deepening reform, comprehensively advancing the rule of law and comprehensively governing the Party strictly.

In 2013, the third plenary session of the 18th CPC Central Committee featured a comprehensive reform package covering 60 tasks and more than 300 reform measures. The Central Leading Group for Deepening Overall Reform has held 32 meetings in the last three years to chart the framework for further reforms.

The blueprint for rule of law, set by the fourth plenary session in 2014, has put forward the fundamental tasks and a pathway to fully advance the rule of law.

In 2015, the fifth plenary session adopted the 13th Five-Year Plan (2016-20), mapping out measures to achieve the goal of building a moderately prosperous society in all respects and putting forward the five new development concepts.

Hu, from Tsinghua University, believes that the measures initiated by the plan will lay the groundwork for the nation's goal of becoming a modern socialist country that is prosperous, strong, democratic, culturally advanced and harmonious in time to mark the centenary of the People's Republic of China in 2049.

Last year, at the sixth plenary session of the 18th CPC Central Committee, two documents related to Party discipline, including the norms of political life within the Party under the new conditions and a regulation on intra-Party supervision, were approved.

Since the 18th CPC National Congress in 2012, the progress made in the Party's fight against corruption has won the confidence of Party members and the public.

By netting both "tigers" and "flies," pushing forward reforms with the anti-graft system and seeking international cooperation, the fight against corruption has gained "crushing momentum".

Between 2013 and September, disciplinary inspection agencies at all levels investigated more than 1 million suspected violations and about 1 million CPC members were punished for violating the rules.

The four plenary sessions of the 18th CPC Central Committee opened a new chapter and drew up a new blueprint for the country's comprehensive development, revealing China's effectiveness and strong will in governance, according to Hu, of Tsinghua University.

He noted that China is now playing a bigger role in the global governance system and promoting international relations and cooperation.

The ongoing efforts include devising a new mode of relations between China and the United States, implementing the Belt and Road Initiative to link Europe, Asia and Africa, an emphasis on neighborhood diplomacy and vigorous participation in global governance.

Through the APEC Beijing summit in 2014, the UN Sustainable Development Summit in 2015 and the G20 Hangzhou summit in September, Xi has played a responsible and irreplaceable role in the relevant fields.

At a group study session of the Politburo of the CPC Central Committee, Xi said taking part in the global governance system will allow China to work to make the system more just and reasonable, and create a better environment for the country's development and for world peace.