Focus on Building a High-Standard Socialist Market Economy

The socialist market economy system is a great creation of the Communist Party of China and a major theoretical and practical innovation of socialism with Chinese characteristics. The Third Plenary Session of the 20th Central Committee of the CPC adopted the "Decision of the Central Committee of the Communist Party of China on Further Deepening Reform Comprehensively to Advance Chinese-Path Modernization" (hereinafter referred to as the "Decision") to further deepen reform comprehensively, proposing and elaborating the strategic task of "building a high-standard socialist market economy," emphasizing that "a high-standard socialist market economy is an important guarantee for Chinese-path modernization." Economic system reform is the focus of further deepening reform comprehensively. It is necessary to deeply understand the objectives, tasks, and significance of building a high-standard socialist market economy from both theoretical and practical levels, focus on building a high-standard socialist market economy, and deepen economic system reform.

社会主义市场经济体制是中国共产党的伟大创举，是中国特色社会主义的重大理论和实践创新。党的二十届三中全会围绕进一步全面深化改革通过了《中共中央关于进一步全面深化改革、推进中国式现代化的决定》（以下简称《决定》），提出并细化了“构建高水平社会主义市场经济体制”的战略任务，强调“高水平社会主义市场经济体制是中国式现代化的重要保障”。经济体制改革是进一步全面深化改革的重点，需要从理论和实践层面深刻认识构建高水平社会主义市场经济体制的目标任务和重大意义，聚焦构建高水平社会主义市场经济体制，深化经济体制改革。

I. Comprehensively Building a High-Standard Socialist Market Economy Clarifies the Objectives and Tasks of Further Deepening Economic System Reform

一、全面建成高水平社会主义市场经济体制明确了进一步深化经济体制改革的目标任务

What kind of economic system to choose after the establishment of the socialist system is a major theoretical and practical issue. Since reform and opening up, our Party, emancipating the mind and seeking truth from facts, has profoundly summarized the experience and lessons of domestic and international economic construction, based itself on the basic national condition of being in the primary stage of socialism for a long period, and with tremendous political courage, continuously liberated and developed productive forces by adjusting relations of production, thereby establishing a vibrant socialist market economy system.

社会主义制度建立之后选择什么样的经济体制，是重大的理论和实践问题。改革开放以来，我们党解放思想、实事求是，深刻总结了国内外经济建设的经验教训，立足于我国长期处于社会主义初级阶段的基本国情，以巨大的政治勇气通过调整生产关系不断解放发展生产力，建立了充满生机活力的社会主义市场经济体制。

The Third Plenary Session of the 11th Central Committee of the CPC in 1978 [1]1 The Third Plenary Session of the 20th Central Committee of the CPC: A major meeting of the Communist Party of China held in July 2024, which focused on further comprehensively deepening reform and adopted a key decision document on the matter. raised the historical curtain of reform and opening up. From "planned economy as the mainstay, market regulation as a supplement" to a "planned commodity economy" on the basis of public ownership, the scope of market regulation gradually expanded. The 14th National Congress of the CPC [2]2 The "Decision": Refers to the "Decision of the Central Committee of the Communist Party of China on Further Comprehensively Deepening Reform to Advance Chinese-Path Modernization," adopted at the Third Plenary Session of the 20th Central Committee. clearly proposed that the goal of China's economic system reform was to establish a socialist market economy system, achieving a historic breakthrough in reform and opening up. The 15th National Congress of the CPC [3]3 “Premiere economy” (首发经济) refers to an economic model driven by the launch of new products, new formats, new services, and new technologies, often associated with first-store openings and brand debuts. established the basic economic system and distribution system for the primary stage of socialism. The 16th National Congress of the CPC [4]4 The 16th National Congress of the CPC, held in 2002, set the task of "improving the socialist market economy system." proposed improving the socialist market economy system. The 17th National Congress of the CPC [5]5 The 17th National Congress of the CPC, held in 2007, called for "major progress in improving the socialist market economy system." further proposed making major progress in improving the socialist market economy system. Entering the New Era, the Party Central Committee with Comrade Xi Jinping at its core, standing at a new historical starting point, accelerated the improvement of the socialist market economy system and continuously deepened economic system reform. The Third Plenary Session of the 18th Central Committee of the CPC [6]6 The Third Plenary Session of the 18th Central Committee of the CPC, held in 2013, adopted a comprehensive reform plan and introduced the formulation of the market playing a "decisive" role in resource allocation. proposed "letting the market play a decisive role in resource allocation and better playing the role of the government," achieving a new breakthrough in understanding the relationship between the government and the market. The Fourth Plenary Session of the 19th Central Committee of the CPC [7]7 The Fourth Plenary Session of the 19th Central Committee of the CPC, held in 2019, incorporated the socialist market economy system into the basic socialist economic system. explicitly incorporated the socialist market economy system into the basic socialist economic system, making important arrangements for advancing economic system reform in breadth and depth. The Fifth Plenary Session of the 19th Central Committee of the CPC [8]8 The Fifth Plenary Session of the 19th Central Committee of the CPC, held in 2020, adopted proposals for the 14th Five-Year Plan and first proposed "building a high-standard socialist market economy." proposed "building a high-standard socialist market economy." The 20th National Congress of the CPC further clarified the strategic task of "building a high-standard socialist market economy," marking the continuous elevation of our Party's understanding of the laws governing the development of the socialist market economy.

1978年党的十一届三中全会拉开了改革开放的历史大幕。从“计划经济为主、市场调节为辅”，到公有制基础上的“有计划商品经济”，市场调节的作用范围逐渐扩大。党的十四大明确提出了我国经济体制改革的目标是建立社会主义市场经济体制，实现了改革开放的历史性突破。党的十五大确立了社会主义初级阶段基本经济制度和分配制度。党的十六大提出完善社会主义市场经济体制。党的十七大进一步提出在完善社会主义市场经济体制方面取得重大进展。进入新时代，以习近平同志为核心的党中央站在新的历史起点上，加快完善社会主义市场经济体制，不断深化经济体制改革。党的十八届三中全会提出“使市场在资源配置中起决定性作用和更好发挥政府作用”，实现了对政府与市场关系认识的新突破。党的十九届四中全会明确把社会主义市场经济体制纳入社会主义基本经济制度之中，从广度和深度上为推进经济体制改革作出重要部署。党的十九届五中全会提出“构建高水平社会主义市场经济体制”。党的二十大进一步明确了“构建高水平社会主义市场经济体制”的战略任务，标志着我们党对社会主义市场经济发展规律的认识不断升华。

General Secretary Xi Jinping pointed out, "Developing a market economy under socialist conditions is a great creation of our Party. A key factor in the tremendous success of China's economic development is that we have both leveraged the strengths of the market economy and brought into play the superiority of the socialist system." Through long-term efforts, China has become the world's second-largest economy, the largest trading nation in goods, and the largest manufacturing country, contributing over 30% to world economic growth, achieving a substantial increase in comprehensive national strength, and creating an economic development miracle rarely seen in the world. China's great achievements in economic development have laid a solid foundation for establishing a higher-standard socialist market economy system. At the same time, promoting high-quality development still faces problems of unbalanced and inadequate development, which imposes higher requirements for further deepening economic system reform comprehensively. For example, the market system is still not well-developed, market development is insufficient, and the relationship between the government and the market has not been fully straightened out, requiring further deepening of economic system reform. To this end, the Third Plenary Session of the 20th Central Committee of the CPC proposed "comprehensively building a high-standard socialist market economy by 2035," and proposed "focusing on building a high-standard socialist market economy, giving full play to the decisive role of the market in resource allocation and better playing the role of the government, upholding and improving the basic socialist economic system, advancing high-level self-reliance and strength in science and technology, advancing high-standard opening up, building a modernized economic system, accelerating the creation of a new development pattern, and promoting high-quality development." It has formulated new strategic deployments for deepening economic system reform and improving the socialist market economy system at a higher starting point, higher level, and higher goal, marking a new milestone in the development of the socialist market economy.

习近平总书记指出，“在社会主义条件下发展市场经济，是我们党的一个伟大创举。我国经济发展获得巨大成功的一个关键因素，就是我们既发挥了市场经济的长处，又发挥了社会主义制度的优越性”。经过长期努力，我国已成为世界第二大经济体、第一大货物贸易国、第一大制造业国家，对世界经济增长贡献率超过了30%，综合国力获得了大幅度提高，创造了世所罕见的经济发展奇迹。我国经济发展的巨大成就，为建立更高水平社会主义市场经济体制奠定了扎实基础。同时，推动高质量发展还面临发展不平衡不充分问题，对进一步全面深化经济体制改革提出了更高要求。比如，市场体系仍不健全，市场发育还不充分，政府和市场关系尚未完全理顺等，需要进一步深化经济体制改革。为此，党的二十届三中全会提出，“到二〇三五年，全面建成高水平社会主义市场经济体制”，提出“聚焦构建高水平社会主义市场经济体制，充分发挥市场在资源配置中的决定性作用，更好发挥政府作用，坚持和完善社会主义基本经济制度，推进高水平科技自立自强，推进高水平对外开放，建成现代化经济体系，加快构建新发展格局，推动高质量发展”。在更高起点、更高层次、更高目标上为深化经济体制改革和完善社会主义市场经济经济体制制定了新的战略部署，是社会主义市场经济发展新的里程碑。

II. Uphold and Implement the "Two Unswervinglys" [9]9 The "Two Unswervinglys" refers to the Party's policy of unswervingly consolidating and developing the public sector and unswervingly encouraging, supporting, and guiding the development of the non-public sector.

二、坚持和落实“两个毫不动摇”

The ownership of the means of production is the core of relations of production, constitutes the foundation of a society's economic system, and determines the basic nature and development direction of society. The basic economic system of keeping public ownership as the mainstay and allowing diverse forms of ownership to develop side by side is the foundation of the socialist market economy system. Both the public sector and the non-public sector are important components of the socialist market economy and important foundations for China's economic and social development. To further deepen economic system reform and improve the socialist market economy system, this foundation must be further consolidated. The Third Plenary Session of the 20th Central Committee of the CPC emphasized that to build a high-standard socialist market economy, it is necessary to "uphold and implement the 'Two Unswervinglys'" and "ensure that all forms of ownership can use factors of production equally according to law, participate in market competition fairly, and receive equal legal protection, promoting complementary advantages and common development of all forms of ownership."

生产资料所有制是生产关系的核心，构成了一个社会经济制度的基础，决定着社会的基本性质和发展方向。公有制为主体、多种所有制经济共同发展的基本经济制度是社会主义市场经济体制的根基，公有制经济和非公有制经济都是社会主义市场经济的重要组成部分，都是我国经济社会发展的重要基础。进一步深化经济体制改革，完善社会主义市场经济体制，必须进一步夯实这一根基。党的二十届三中全会强调，构建高水平社会主义市场经济体制，要“坚持和落实‘两个毫不动摇’”，“保证各种所有制经济依法平等使用生产要素、公平参与市场竞争、同等受到法律保护，促进各种所有制经济优势互补、共同发展”。

Unswervingly consolidate and develop the public sector. Public ownership of the means of production is the fundamental characteristic that distinguishes the socialist system from the capitalist system and is also an important guarantee for the continuous development of China's socialist market economy in the correct direction. State-owned enterprises are an important material and political foundation of socialism with Chinese characteristics. Since reform and opening up, we have continuously explored the forms of realization of public ownership under the market economy. By establishing a modern enterprise system with clearly established ownership, well-defined rights and responsibilities, separation of government functions from enterprise management, and scientific management, we have achieved an effective integration of public ownership and the market economy, enhanced the vitality of the state-owned sector, and improved the controlling power and influence of the public sector. Currently, the new situation and new tasks impose higher requirements on the public sector. It is necessary to follow the deployment of the Third Plenary Session of the 20th Central Committee of the CPC to further comprehensively deepen the reform of state-owned assets and state-owned enterprises, improve the management and supervision system and mechanism, enhance strategic coordination among relevant management departments, promote the optimization of the layout and structural adjustment of the state-owned sector, make state-owned capital and state-owned enterprises stronger, better, and larger, enhance core functions, and improve core competitiveness.

毫不动摇巩固和发展公有制经济。生产资料公有制是社会主义制度区别于资本主义制度的根本特征，也是我国社会主义市场经济沿着正确方向不断发展的重要保障。国有企业是中国特色社会主义的重要物质基础和政治基础。改革开放以来，我们不断探索公有制在市场经济中的实现形式，通过建立产权清晰、权责明确、政企分开、管理科学的现代企业制度，实现了公有制与市场经济的有效结合，增强了国有经济的活力，提升了公有制经济的控制力和影响力。当前，新形势新任务对公有制经济提出了更高的要求。要按照党的二十届三中全会的部署进一步全面深化国资国企改革，完善管理监督体制机制，增强各有关管理部门战略协同，推进国有经济布局优化和结构调整，推动国有资本和国有企业做强做优做大，增强核心功能，提升核心竞争力。

Unswervingly encourage, support, and guide the development of the non-public sector of the economy. China’s non-public sector of the economy has developed under the guidance of our Party since reform and opening up, and has played an important role in promoting sustained and healthy economic development. It has become an important foundation for stabilizing the economy, an important source of national tax revenue, an important subject of technological innovation, and an important pillar for financial development. General Secretary Xi Jinping emphasized, “On the new journey of comprehensively building a modern socialist country, China’s private sector can only grow stronger, not weaker; not only must it not ‘leave the stage,’ but it must also head towards a broader stage.” [1]1 The Third Plenary Session of the 20th Central Committee of the CPC: A major meeting of the Communist Party of China held in July 2024, which focused on further comprehensively deepening reform and adopted a key decision document on the matter. Building a high-standard socialist market economy requires further fully leveraging the important role of the non-public sector. Within the non-public sector, the private sector is the main form of economic organization. The Third Plenary Session of the 20th Central Committee of the Party [2]2 The "Decision": Refers to the "Decision of the Central Committee of the Communist Party of China on Further Comprehensively Deepening Reform to Advance Chinese-Path Modernization," adopted at the Third Plenary Session of the 20th Central Committee. made strategic deployments focused on the development of the private sector. In terms of law, it proposed formulating a law to promote the private sector, and improving the legal and regulatory systems for long-term supervision of fees charged to enterprises and for settling overdue payments owed to enterprises. In terms of market development, this includes deeply dismantling market access barriers, promoting the fair opening of competitive areas of infrastructure to business entities, and improving the long-term mechanism for private enterprises to participate in the construction of major national projects. In terms of policy treatment, it proposed improving the policy and system for financing support for private enterprises, accelerating the establishment of a comprehensive evaluation system for the credit status of private enterprises, supporting and guiding private enterprises to improve their governance structures and management systems, and strengthening enterprise compliance construction and clean governance risk prevention and control. By committing to policies and guidelines that create a good environment and provide more opportunities for the development of the non-public sector, a sound market competition relationship will be formed, fully unleashing the creative vitality of the private sector.

毫不动摇鼓励、支持、引导非公有制经济发展。我国非公有制经济是改革开放以来在我们党的指引下发展起来的，在推动经济持续健康发展中发挥了重要作用，已经成为稳定经济的重要基础、国家税收的重要来源、技术创新的重要主体、金融发展的重要依托。习近平总书记强调，“全面建设社会主义现代化国家的新征程中，我国民营经济只能壮大、不能弱化，不仅不能‘离场’，而且要走向更加广阔的舞台”。构建高水平社会主义市场经济体制，需要进一步充分发挥非公有制经济的重要作用。在非公有制经济中，民营经济是主要的经济组织形式。党的二十届三中全会着重围绕民营经济发展进行了战略部署。在法律方面，提出制定民营经济促进法，健全涉企收费长效监管和拖欠企业账款清偿法律法规体系；在市场发展方面，包括深入破除市场准入壁垒，推进基础设施竞争性领域向经营主体公平开放，完善民营企业参与国家重大项目建设长效机制等；在政策待遇方面，提出完善民营企业融资支持政策制度，加快建立民营企业信用状况综合评价体系，支持引导民营企业完善治理结构和管理制度，加强企业合规建设和廉洁风险防控等。通过致力于为非公有制经济发展营造良好环境和提供更多机会的方针政策，从而形成良好的市场竞争关系，推动民营经济的创造活力充分迸发。

III. Building a Unified National Market

三、构建全国统一大市场

Building a unified national market is an inherent requirement for smoothing the domestic economic cycle under the new development pattern. It provides important support for promoting high-quality development and realizing Chinese-path modernization, and also lays an important foundation for shaping new advantages in international cooperation and competition. Since reform and opening up, an important element of the reform of the socialist market economy system has been to break down market barriers, promote the virtuous cycle of the national economy, and establish a truly unified large market. Through unremitting efforts, China already possesses the world’s most complete and largest-scale industrial system, with strong production capacity, comprehensive supporting capabilities, a population of over 1.4 billion, and the world’s largest middle-income group. The potential for domestic demand is vast. These are the unique advantages and necessary conditions for building a unified national market. Since the 18th National Congress of the CPC, the Party Central Committee with Comrade Xi Jinping at its core has assessed the situation and systematically planned the construction of a unified national market. The effect of the super-large market scale has become increasingly apparent, and the potential of domestic demand for economic growth has been continuously released. However, it is also necessary to recognize that problems still exist in practice, including the persistence of closed small markets and self-contained small cycles, imperfect markets for goods and factors, and inconsistent market rules and supervision. Having entered the new stage of development, the international and domestic situations are complex and volatile. There is an urgent need to smooth the national economic cycle, and use this as a strategic foundation to attract and promote the integration and innovation of global factor resources, maximizing the scale and agglomeration effects of the market.

构建全国统一大市场是构建新发展格局下畅通国内大循环的内在要求，为推动高质量发展、实现中国式现代化提供了重要支撑，也为塑造国际合作和竞争新优势奠定了重要基础。改革开放以来，社会主义市场经济体制改革的一个重要内容就是打破市场壁垒，推动国民经济良性循环，建立真正统一的大市场。经过不懈努力，我国已经具有全球最完整、规模最大的工业体系，有强大的生产能力、完善的配套能力，拥有十四亿多人口以及全球最大的中等收入群体，内需潜力余地很大，这是构建全国统一大市场的独特优势和必要条件。党的十八大以来，以习近平同志为核心的党中央审时度势，对构建全国统一大市场进行了系统谋划，超大市场规模效应不断显现，经济增长内需潜力不断释放。但也需要看到，实践中存在的问题还比较突出，包括封闭小市场、自我小循环依然存在，商品要素市场不够完善，市场规则和监管还不统一等。进入新发展阶段，国际国内形势纷繁复杂，迫切需要畅通全国大循环，并以此为战略基点吸引促进全球要素资源整合创新，最大化发挥市场规模和积聚效应。

The Third Plenary Session of the 20th Central Committee of the Party made building a unified national market an important part of constructing a high-standard socialist market economy and formulated a strategic plan. This is our Party’s active choice to promote China’s market from large to strong. Building a unified national market is a systematic project. The plenary session adhered to a problem-oriented approach, promoting both the breaking of old rules and the establishment of new ones. From the perspective of breaking old rules, it clearly proposed “cleaning up and abolishing various regulations and practices that hinder a unified national market and fair competition,” “strictly prohibiting illegal or irregular preferential policies,” and “strengthening anti-monopoly and anti-unfair competition.” From the perspective of establishing new rules, it clearly proposed “promoting the unification of basic market system rules, the unification of market supervision, and high-standard connectivity of market infrastructure,” and made strategic deployments focused on improving factor markets, circulation systems, and cultivating the domestic demand system.

党的二十届三中全会把构建全国统一大市场作为构建高水平社会主义市场经济体制的重要内容，并制定了战略规划，这是我们党推动我国市场由大到强的主动选择。构建全国统一大市场是一个系统工程，全会坚持问题导向、破立并举。从破的视角来看，明确提出“清理和废除妨碍全国统一市场和公平竞争的各种规定和做法”、“严禁违法违规给予政策优惠行为”、“强化反垄断和反不正当竞争”。从立的视角来看，明确提出“推动市场基础制度规则统一、市场监管公平统一、市场设施高标准联通”，并重点围绕完善要素市场、流通体制和培育内需体系进行了战略部署。

First, improve the systems and rules for factor markets. Factor markets are an important component of a unified national market and a key focus for deepening market-oriented reforms. By improving the systems and rules for factor markets, including building a unified urban-rural construction land market, improving the basic system for the standardized development of capital markets, cultivating a national integrated technology and data market, and improving the mechanism whereby factors of production are evaluated by the market for their contribution and remunerated according to their contribution, the smooth flow of various production factors will be promoted, efficient allocation of various resources will be driven, and market potential will be fully released. Second, improve the circulation system. Achieving efficient circulation requires accelerating the development of the Internet of Things, improving seamlessly integrated circulation rules and standards, deepening the reform of the energy management system, building a unified national electricity market, and optimizing the operation and dispatch mechanism of oil and gas pipeline networks. Third, accelerate the cultivation of a complete domestic demand system. In terms of investment and financial demand, establish a long-term mechanism for government investment to support the construction of foundational, public welfare, and long-term major projects, improve the institutional mechanisms for government investment to effectively drive social investment, deepen the reform of the investment approval system, and improve mechanisms to stimulate the vitality of social capital investment and promote project implementation, forming a market-led endogenous growth mechanism for effective investment. In terms of consumer demand, improve the long-term mechanism for expanding consumption, reduce restrictive measures, reasonably increase public consumption, and actively promote the “premiere economy.” [3]3 “Premiere economy” (首发经济) refers to an economic model driven by the launch of new products, new formats, new services, and new technologies, often associated with first-store openings and brand debuts.

第一，完善要素市场制度和规则。要素市场是全国统一大市场的重要组成部分，也是深化市场化改革的重点。通过完善要素市场制度和规则，包括构建城乡统一的建设用地市场，完善资本市场规范发展基础制度，培育全国一体化技术和数据市场，健全生产要素由市场评价贡献、按贡献决定报酬的机制等，促进各种生产要素畅通流动，推动各类资源高效配置，充分释放市场潜力。第二，完善流通体制。实现高效循环流转需要加快发展物联网，健全一体衔接的流通规则和标准，深化能源管理体制改革，建设全国统一电力市场，优化油气管网运行调度机制。第三，加快培育完整内需体系。在投资和金融需求方面，建立政府投资支持基础性、公益性、长远性重大项目建设长效机制，健全政府投资有效带动社会投资体制机制，深化投资审批制度改革，完善激发社会资本投资活力和促进投资落地机制，形成市场主导的有效投资内生增长机制。在消费需求方面，完善扩大消费长效机制，减少限制性措施，合理增加公共消费，积极推进首发经济。

IV. Improving the Basic Systems of the Market Economy

四、完善市场经济基础制度

The basic systems of the market economy provide the fundamental guarantee for the effective operation of the socialist market economy. After more than 40 years of economic system reform since reform and opening up, the basic institutional framework of the socialist market economy has been established. Since the 18th National Congress of the CPC, we have continuously deepened the construction of the basic systems of the market economy, including cleaning up regulations and normative documents related to property rights protection, establishing and fully implementing a nationwide unified negative list system for market access, and strengthening intellectual property protection. Significant achievements have been made in the basic systems of the market economy. However, compared with the requirements of a high-standard socialist market economy, problems such as unclear ownership of new types of production factors, unfair economic competition, and lack of market credit still exist, indicating that the basic systems of the market economy are not yet perfect. The Third Plenary Session of the 20th Central Committee of the Party listed “improving the basic systems of the market economy” as one of the strategic tasks for building a high-standard socialist market economy, highlighting the important role of the basic systems of the market economy in further advancing the reform of the socialist market economy system.

市场经济基础制度为社会主义市场经济有效运行提供了基础保障。经过改革开放40多年的经济体制改革，社会主义市场经济基础制度框架已经建立。党的十八大以来，我们不断深化市场经济基础制度建设，包括开展涉及产权保护的规章、规范性文件清理工作，建立并全面实施全国统一的市场准入负面清单制度，加大知识产权保护力度等，市场经济基础制度取得重大成效。但与高水平社会主义市场经济体制要求相比，新型生产要素产权归属问题，经济竞争不公平问题，市场信用缺失问题依然存在，这说明了市场经济基础制度还不够完善。党的二十届三中全会把“完善市场经济基础制度”列为构建高水平社会主义市场经济体制的战略任务之一，凸显了市场经济基础制度在进一步推进社会主义市场经济体制改革中的重要作用。

The property rights system is the cornerstone of the socialist market economy. Improving the basic market system requires improving the property rights system. Only by establishing and improving a modern property rights system based on the principle of fairness, with clear ownership, well-defined responsibilities, strict protection, and smooth circulation, and by equally protecting the property rights and autonomous management rights of enterprises under all forms of ownership according to law, can market entities have a greater sense of security and belonging, thereby fully stimulating their endogenous motivation and innovative vitality. The Third Plenary Session of the 20th Central Committee of the Party made strategic plans around improving the property rights system and equally protecting the property rights of all forms of ownership over the long term according to law. It proposed establishing an efficient comprehensive intellectual property management system, improving the market information disclosure system, and building a trade secret protection system. It called for equal accountability, conviction, and punishment for acts infringing upon the property rights and legitimate interests of all forms of ownership, and for improving the punitive damages system. It also called for strengthening judicial protection of property rights enforcement, preventing and correcting the use of administrative or criminal means to interfere in economic disputes, and improving the mechanism for legally identifying and correcting wrongful cases involving enterprises.

产权制度是社会主义市场经济的基石，完善市场基础制度要求完善产权制度。建立健全以公平为原则，归属清晰、全责明确、保护严格、流转顺畅的现代产权制度，依法平等保护各种所有制企业产权和自主经营权，让市场主体有更多的安全感、归属感，才能充分激发市场主体的内生动力和创新活力。党的二十届三中全会围绕完善产权制度、依法平等长久保护各种所有制经济产权，进行了战略规划。提出建立高效的知识产权综合管理体制，完善市场信息披露制度，构建商业秘密保护制度。对侵犯各种所有制经济产权和合法利益的行为实行同责同罪同罚，完善惩罚性赔偿制度。加强产权执法司法保护，防止和纠正利用行政、刑事手段干预经济纠纷，健全依法甄别纠正涉企冤错案件机制。

The market access system is one of the foundational systems of China's socialist market economy. In recent years, China has continuously strengthened the top-level design of the market access system. In 2018, China fully implemented the negative list system for market access, while simultaneously establishing a dynamic adjustment mechanism and a third-party evaluation mechanism for the market access negative list, steadily advancing the reform of the market access system. To enhance the effectiveness of market access, the Third Plenary Session of the 20th Central Committee of the CPC [1]1 The Third Plenary Session of the 20th Central Committee of the CPC: A major meeting of the Communist Party of China held in July 2024, which focused on further comprehensively deepening reform and adopted a key decision document on the matter. further emphasized the need to improve the market access system, covering the entire process from market entry to exit. Regarding market entry, it proposed deepening the reform of the registered capital subscription system, implementing subscription according to law and on schedule. Regarding market exit, it proposed improving the enterprise bankruptcy mechanism, exploring the establishment of a personal bankruptcy system, advancing supporting reforms for enterprise deregistration, and perfecting the enterprise exit system. Regarding the market process, it proposed improving the social credit system and regulatory system. At the same time, with the vigorous development of a new round of technological revolution and industrial transformation, new business forms and new fields are constantly emerging. To this end, the "Decision" [2]2 The "Decision": Refers to the "Decision of the Central Committee of the Communist Party of China on Further Comprehensively Deepening Reform to Advance Chinese-Path Modernization," adopted at the Third Plenary Session of the 20th Central Committee. also specifically proposes optimizing the market access environment for new business forms and new fields. By steadily expanding institutional opening up, further expanding market access, creating a fair, transparent, and law-based development environment for enterprises, and building a more market-oriented, law-based, and internationalized market business environment.

市场准入制度是我国社会主义市场经济基础制度之一。近年来，我国持续强化市场准入制度的顶层设计。2018年，我国市场准入负面清单制度全面实施，同时建立了市场准入负面清单动态调整机制和第三方评估机制，市场准入制度改革稳步推进。围绕提升市场准入效能，党的二十届三中全会进一步强调要完善市场准入制度，内容涉及从市场进入到退出的全过程。在市场进入方面，提出深化注册资本认缴登记制度改革，实行依法按期认缴。在市场退出方面，提出健全企业破产机制，探索建立个人破产制度，推进企业注销配套改革，完善企业退出制度。在市场过程中，提出健全社会信用体系和监管制度。同时，随着新一轮科技革命和产业变革的蓬勃发展，新业态新领域不断涌现。为此，《决定》还着重提出要优化新业态新领域市场准入环境。通过稳步扩大制度型开放，进一步扩大市场准入，为企业营造公平、透明、法治的发展环境，打造更加市场化、法治化、国际化的市场营商环境。

The "Decision" revolves around the core issue of handling the relationship between the government and the market, placing the construction of a high-level socialist market economy system in a prominent position, and making arrangements for key areas and crucial links of economic system reform, providing basic guidance for further comprehensively deepening reform. By constructing a more systematic, complete, mature, and finalized high-level socialist market economy system, it will thereby guide and drive reforms in other areas, enabling reforms in all aspects to advance in coordination, forming a combined force for development, and providing strong impetus and institutional guarantees for Chinese-path modernization.

《决定》围绕处理好政府和市场关系这个核心问题，把构建高水平社会主义市场经济体制摆在突出位置，对经济体制改革重点领域和关键环节作出部署，为进一步全面深化改革提供了基本遵循。通过构建更加系统完备、成熟定型的高水平社会主义市场经济体制，以此牵引和带动其他领域改革，使各方面改革协同推进，形成发展的合力，为中国式现代化提供强大动力和制度保障。

Online Editor: Paul

网络编辑：保罗