Uphold and Improve the Basic Socialist Economic System to Promote High-Quality Economic Development

The Third Plenary Session of the 20th Central Committee of the Communist Party of China pointed out, "Uphold and improve the basic socialist economic system, promote high-level scientific and technological self-reliance and self-strengthening, promote high-standard opening up, build a modernized economic system, accelerate the formation of a new development pattern, and promote high-quality development." [1]1 The Third Plenary Session of the 20th Central Committee of the CPC: A major meeting of the Communist Party of China's Central Committee, held in July 2024, which focused on further deepening reform comprehensively to advance Chinese-path modernization. The basic socialist economic system, comprising public ownership as the mainstay with diverse forms of ownership developing together, distribution according to work as the mainstay with multiple forms of distribution coexisting, and the socialist market economy system, both embodies the superiority of the socialist system and is compatible with the social productive forces at the primary stage of socialism in our country. It is a great creation of the Party and the people. In the process of further deepening reform comprehensively and advancing Chinese-path modernization, we must unswervingly uphold and improve the basic socialist economic system to promote high-quality economic development.

党的二十届三中全会指出，“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”。公有制为主体、多种所有制经济共同发展，按劳分配为主体、多种分配方式并存，社会主义市场经济体制等社会主义基本经济制度，既体现了社会主义制度优越性，又同我国社会主义初级阶段社会生产力相适应，是党和人民的伟大创造。在进一步全面深化改革、推进中国式现代化进程中，必须坚定不移地坚持和完善社会主义基本经济制度，推动经济高质量发展。

I

一

General Secretary Xi Jinping pointed out, "China's reform is the self-improvement and self-development of the socialist system with Chinese characteristics." Since the founding of New China, our country's economic system has continuously developed with the progress of the times and the deepening of socialist practice. After completing the socialist transformation of agriculture, handicrafts, and capitalist industry and commerce, our country established a socialist economic system based on public ownership, implemented distribution according to work in the distribution sphere, adopted a planned economy as the economic system, and on this basis built an independent and relatively complete industrial system and national economic system, advancing the process of national industrialization. [2]2 Xi Jinping, "Speech at the 28th Collective Study Session of the Political Bureau of the 18th Central Committee," November 2015.

习近平总书记指出，“中国的改革是中国特色社会主义制度的自我完善和发展”。新中国成立以来，我国经济制度随着时代的发展和社会主义实践的深入而不断发展。我国在完成对农业、手工业和资本主义工商业改造之后，建立起以公有制为基础的社会主义经济制度，在分配领域实行按劳分配，经济体制采用计划经济，并在此基础上建立了独立的比较完整的工业体系和国民经济体系，推进了国家工业化进程。

The Third Plenary Session of the 11th Central Committee of the Party, based on the basic national condition that our country is in the primary stage of socialism for a long time and the requirements of productive forces development, while deciding to shift the focus of the work of the Party and the state to economic construction, emphatically pointed out that to achieve socialist modernization, reform of the economic system must be carried out. [3]3 The Third Plenary Session of the 11th Central Committee, held in December 1978, marked the beginning of China's reform and opening-up era. The 12th National Congress of the Party explicitly proposed that while adhering to the dominant position of the state-owned economy, various economic forms such as the individual economy should be developed as necessary and beneficial supplements to the public-owned economy, and systematic reform of the economic system should be carried out. [4]4 The 12th National Congress of the CPC was held in September 1982. The report of the 14th National Congress of the Party proposed that the economic system that restricts the development of productive forces in our country must be fundamentally changed, and on the basis of adhering to public ownership and distribution according to work as the mainstay with other economic sectors and distribution forms as supplements, a socialist market economy system should be established and improved. [5]5 The 14th National Congress of the CPC was held in October 1992. The 15th National Congress of the Party established "public ownership as the mainstay with diverse forms of ownership developing together" as a basic economic system for the primary stage of socialism in our country, explicitly stating that "the non-public sector of the economy is an important component of the socialist market economy of our country"; it emphasized the need to uphold and improve the socialist market economy system, allowing the market to play a fundamental role in resource allocation under the state's macroeconomic regulation; and to uphold and improve the multiple forms of distribution with distribution according to work as the mainstay. [6]6 The 15th National Congress of the CPC was held in September 1997. The 16th National Congress of the Party, when discussing upholding and improving the basic economic system, proposed for the first time adhering to the "Two Unswervinglys," namely, unswervingly consolidating and developing the public-owned economy, and unswervingly encouraging, supporting, and guiding the development of the non-public sector of the economy; it proposed improving the modern market system, giving greater play to the market's fundamental role in resource allocation; and improving the distribution system with distribution according to work as the mainstay and multiple forms of distribution coexisting, establishing the principle of distribution according to the contribution of factors of production such as labor, capital, technology, and management. [7]7 The 16th National Congress of the CPC was held in November 2002. The "Two Unswervinglys" (两个毫不动摇) is a policy slogan. The 18th National Congress of the Party proposed that common prosperity is the fundamental principle of socialism with Chinese characteristics, and that the basic socialist economic system and distribution system must be upheld, the "Two Unswervinglys" must be adhered to, so that the fruits of development benefit all the people more and more fairly, and progress is made steadily towards common prosperity. [8]8 The 18th National Congress of the CPC was held in November 2012.

党的十一届三中全会根据我国长期处于社会主义初级阶段的基本国情和生产力发展要求，在决定把党和国家工作中心转到经济建设上来的同时着重指出，为了实现社会主义现代化，必须对经济体制进行改革。党的十二大明确提出，在坚持国营经济的主导地位的同时，要发展个体经济等多种经济形式，作为公有制经济的必要的、有益的补充，有系统地进行经济体制改革。党的十四大报告提出，要从根本上改变束缚我国生产力发展的经济体制，在坚持公有制和按劳分配为主体、其他经济成分和分配方式为补充的基础上，建立和完善社会主义市场经济体制。党的十五大把“公有制为主体、多种所有制经济共同发展”确立为我国社会主义初级阶段的一项基本经济制度，明确提出“非公有制经济是我国社会主义市场经济的重要组成部分”；强调要坚持和完善社会主义市场经济体制，使市场在国家宏观调控下对资源配置起基础性作用；坚持和完善按劳分配为主体的多种分配方式。党的十六大在论述坚持和完善基本经济制度时，首次提出要坚持“两个毫不动摇”，即必须毫不动摇地巩固和发展公有制经济，必须毫不动摇地鼓励、支持和引导非公有制经济发展；提出健全现代市场体系，在更大程度上发挥市场在资源配置中的基础性作用；完善按劳分配为主体、多种分配方式并存的分配制度，确立劳动、资本、技术和管理等生产要素按贡献参与分配的原则。党的十八大提出，共同富裕是中国特色社会主义的根本原则，要坚持社会主义基本经济制度和分配制度，坚持“两个毫不动摇”，使发展成果更多更公平惠及全体人民，朝着共同富裕方向稳步前进。

Entering the New Era, the Communist Party of China, with a far-sighted strategic vision, has taken institutional development as the key engine for promoting high-quality development. Facing the complex and changing domestic and international environment, our Party has deeply recognized that only by building a scientific, complete, and effective institutional system can a solid guarantee be provided for economic and social development. The 18th National Congress of the Party emphasized the need to build a system of institutions that is well-conceived, fully built, procedure-based, and efficient, making all types of institutions more mature and well-defined. [9]9 The Fourth Plenary Session of the 19th Central Committee of the CPC was held in October 2019. The Fourth Plenary Session of the 19th Central Committee of the Party provided a new summary of the basic socialist economic system, namely, public ownership as the mainstay with diverse forms of ownership developing together, distribution according to work as the mainstay with multiple forms of distribution coexisting, and the socialist market economy system. [10]10 The 20th National Congress of the CPC was held in October 2022. This new summary comprehensively and systematically characterizes our country's basic economic system from the three dimensions of ownership, distribution system, and economic operation system. The 20th National Congress of the Party, based on high-quality development as the primary task of comprehensively building a modern socialist country, emphasized upholding and improving the basic socialist economic system and building a high-level socialist market economy system. [11]11 The Third Plenary Session of the 20th Central Committee of the CPC was held in July 2024. The Third Plenary Session of the 20th Central Committee of the Party focused on building a high-level socialist market economy system, proposing to uphold and improve the basic socialist economic system and promote high-quality development.

进入新时代，中国共产党以高瞻远瞩的战略视野，将制度建设作为推动高质量发展的关键引擎。面对复杂多变的国内外环境，我们党深刻认识到，只有构建起科学完备、运行有效的制度体系，才能为经济社会发展提供坚实保障。党的十八大强调，要构建系统完备、科学规范、运行有效的制度体系，使各方面制度更加成熟更加定型。党的十九届四中全会对社会主义基本经济制度进行了新的概括，即公有制为主体、多种所有制经济共同发展，按劳分配为主体、多种分配方式并存，社会主义市场经济体制。这一新概括从所有制、分配制度、经济运行制度三个维度全面而系统地刻画了我国的基本经济制度。党的二十大立足于高质量发展这个全面建设社会主义现代化国家的首要任务，强调坚持和完善社会主义基本经济制度，构建高水平社会主义市场经济体制。党的二十届三中全会聚焦构建高水平社会主义市场经济体制，提出要坚持和完善社会主义基本经济制度，推动高质量发展。

II

二

General Secretary Xi Jinping emphasized that upholding and improving the basic economic system of public ownership as the mainstay with diverse forms of ownership developing together is an important pillar for consolidating and developing socialism with Chinese characteristics. The Third Plenary Session of the 20th Central Committee of the Party pointed out that it is necessary to uphold and improve the basic socialist economic system, unswervingly consolidate and develop the public-owned economy, unswervingly encourage, support, and guide the development of the non-public sector of the economy, and promote complementary advantages and common development of all forms of ownership. This is not only a unique advantage of the socialist system with Chinese characteristics in economic development but also a powerful driving force for the rapid and stable development of our country's economy since the founding of New China, especially since reform and opening up.

习近平总书记强调，坚持和完善公有制为主体、多种所有制经济共同发展的基本经济制度，是巩固和发展中国特色社会主义的重要支柱。党的二十届三中全会指出，坚持和完善社会主义基本经济制度，毫不动摇巩固和发展公有制经济，毫不动摇鼓励、支持、引导非公有制经济发展，推动各种所有制经济优势互补、共同发展。这不仅是中国特色社会主义制度在经济发展中的独特优势，也是新中国成立特别是改革开放以来，我国经济实现快速稳定发展的强大动力。

To promote high-quality economic development, it is necessary to unswervingly consolidate and develop the public-owned economy. Public ownership is the foundation of the socialist economic system. The public-owned economy occupies a dominant position in the national economy and is a fundamental requirement of the economic system of a socialist country. State-owned enterprises, as the main form of realization of the public-owned economy, are an important material and political foundation of socialism with Chinese characteristics, an important pillar and relying force for the Party to govern and rejuvenate the country, and an important relying force for the Party to lead the people in achieving common prosperity. In the New Era, to further deepen reform comprehensively, it is necessary to continuously deepen the reform of state-owned assets and state-owned enterprises, promote the optimization of the layout and structural adjustment of the state-owned economy, and promote the concentration of state-owned capital in important industries and key fields related to national security and the lifeline of the national economy, ensuring national economic security and strategic interests; concentrate in the fields of public services, emergency response capacity, and public welfare related to the national economy and people's livelihood, improving the level of public services and social responsibility; and concentrate in forward-looking strategic emerging industries, cultivating new economic growth points. Promote state-owned capital and state-owned enterprises to become stronger, better, and larger, enhance the competitiveness, innovation, control, influence, and risk resistance of the state-owned economy, and create a number of world-class enterprises with global competitiveness. In the process of promoting high-quality development and common prosperity, they must not only act as the main force, demonstrator, and pacesetter but also serve as the "pillar," "ballast stone," and "stabilizer," providing solid support for the stability and development of the economy and society.

推动经济高质量发展，必须毫不动摇巩固和发展公有制经济。公有制是社会主义经济制度的基础。公有制经济在国民经济中占据主导地位，是社会主义国家经济制度的根本要求。国有企业作为公有制经济的主要实现形式，是中国特色社会主义的重要物质基础和政治基础，是党执政兴国的重要支柱和依靠力量，是党领导人民实现共同富裕的重要依靠力量。新时代，进一步全面深化改革，要不断深化国资国企改革，推进国有经济布局优化和结构调整，推动国有资本向关系国家安全、国民经济命脉的重要行业和关键领域集中，确保国家经济安全和战略利益；向关系国计民生的公共服务、应急能力、公益性领域集中，提升公共服务水平和社会责任感；向前瞻性战略性新兴产业集中，培育新的经济增长点。推动国有资本和国有企业做强做优做大，增强国有经济竞争力、创新力、控制力、影响力、抗风险能力，打造一批具有全球竞争力的世界一流企业。在推动高质量发展和促进共同富裕进程中，不仅要做好主力军、示范者和排头兵，还要当好“顶梁柱”、“压舱石”和“稳定器”，为经济社会的稳定和发展提供坚实的支撑。

To promote high-quality economic development, we must unswervingly encourage, support, and guide the development of the non-public sector of the economy. The non-public sector of the economy has developed under the guidance of the Party's principles and policies since reform and opening up; it is an important component of the socialist market economy and an important foundation of China's economic and social development. The private economy is an intrinsic element of China's economic system, the cornerstone of developing the market economy, and an important subject in promoting high-quality development and building a modern economic system. At the 2018 symposium on private enterprises, General Secretary Xi Jinping emphasized, "Over the 40 years of reform and opening up, private enterprises have flourished, and the private economy has grown from small to large and from weak to strong, playing an important role in stabilizing growth, promoting innovation, increasing employment, and improving people's livelihoods, becoming an important force driving economic and social development. Supporting the development of private enterprises is a consistent policy of the Party Central Committee, and this will not waver in the slightest." In further comprehensively deepening reform, we must continue to increase efforts to support the development of the private economy, continuously optimize the business environment, and create a market environment where all forms of ownership can use resource factors equally in accordance with the law, participate in competition openly, fairly, and justly, and receive equal legal protection; strengthen policy guidance and support, support qualified private enterprises to take the lead in undertaking major national technological research tasks, and enhance independent innovation capabilities; improve the policy system for financing support for private enterprises, solve the problems of difficult and expensive financing for private enterprises, especially small and medium-sized enterprises, and provide guarantees for the healthy development of private enterprises; promote the digital transformation of private enterprises, use frontier technologies such as big data, cloud computing, and artificial intelligence to improve production efficiency and management levels, further stimulate the vitality and potential of the private economy, and inject strong momentum into high-quality economic development.

推动经济高质量发展，必须毫不动摇鼓励、支持、引导非公有制经济发展。非公有制经济是改革开放以来在党的方针政策指引下发展起来的，是社会主义市场经济的重要组成部分,是我国经济社会发展的重要基础。民营经济是我国经济制度的内在要素，是发展市场经济的基石，是推动高质量发展、建设现代化经济体系的重要主体。在2018年民营企业座谈会上，习近平总书记强调，“改革开放40年来，民营企业蓬勃发展，民营经济从小到大、由弱变强，在稳定增长、促进创新、增加就业、改善民生等方面发挥了重要作用，成为推动经济社会发展的重要力量。支持民营企业发展，是党中央的一贯方针，这一点丝毫不会动摇”。在进一步全面深化改革中，要继续加大力度支持民营经济发展，持续优化营商环境，营造各种所有制经济依法平等使用资源要素、公开公平公正参与竞争、同等受到法律保护的市场环境；加强政策引导与扶持，支持有条件的民营企业牵头承担国家重大技术攻关任务，提升自主创新能力；完善民营企业融资支持政策制度，破解民营企业尤其是中小企业融资难、融资贵问题，为民营企业健康发展提供保障；推动民营企业进行数字化转型，利用大数据、云计算、人工智能等前沿技术提升生产效率和管理水平，进一步激发民营经济的活力与潜力，为经济高质量发展注入强劲动力。

III

三

Marxism holds that "the structure of distribution is completely determined by the structure of production; distribution itself is a product of production." [1]1 The Third Plenary Session of the 20th Central Committee of the CPC: A major meeting of the Communist Party of China's Central Committee, held in July 2024, which focused on further deepening reform comprehensively to advance Chinese-path modernization. In the primary stage of socialism, we have established an ownership structure of "public ownership as the mainstay and diverse forms of ownership developing together." This ownership structure inherently requires and determines that the distribution structure must follow the principle of "distribution according to work as the mainstay and multiple modes of distribution coexisting." This is not only the cornerstone of the socialist distribution system but also the key to ensuring social fairness and justice and stimulating economic vitality. It embodies the core position of labor as the living source of wealth creation, while simultaneously recognizing and encouraging the contributions of other factors of production, jointly promoting comprehensive, coordinated, and sustainable economic and social development, and highlighting the unique advantages and vigorous vitality of the socialist system.

马克思主义认为，“分配的结构完全决定于生产的结构，分配本身是生产的产物”。在社会主义初级阶段，我们确立了“公有制经济为主体、多种所有制经济共同发展”的所有制结构，这一所有制结构内在要求并决定了分配结构必须遵循“按劳分配为主体、多种分配方式并存”的原则，这不仅是社会主义分配制度的基石，也是确保社会公平正义与激发经济活力的关键所在。它体现了劳动作为财富创造活的源泉的核心地位，同时认可并鼓励其他生产要素的贡献，共同推动经济社会全面、协调、可持续发展，彰显了社会主义制度的独特优势与蓬勃生命力。

Distribution according to work, as the basic principle of socialist distribution, ensures that workers receive corresponding remuneration based on the quantity and quality of labor they provide. To further comprehensively deepen reform and promote common prosperity, we must adhere to the dominant position of distribution according to work, improve the wage system, establish and improve wage determination, normal growth, and payment guarantee mechanisms compatible with the socialist market economy, strive to increase the share of residents' income in the distribution of national income, increase the share of labor remuneration in the primary distribution, and let the fruits of development benefit all the people more and more fairly; advocate "more pay for more work," so that hardworking workers receive more returns, stimulating the creative vitality of the whole society; encourage getting rich through hard work, provide every worker with fair opportunities, and help them realize their own value through honest labor.

按劳分配作为社会主义的基本分配原则，确保了劳动者根据其提供的劳动数量和质量获得相应的报酬。进一步全面深化改革，促进共同富裕，必须坚持按劳分配的主体地位，健全工资制度，建立健全与社会主义市场经济相适应的工资决定、正常增长和支付保障机制，努力提高居民收入在国民收入分配中的比重，提高劳动报酬在初次分配中的比重，让发展成果更多更公平惠及全体人民；倡导“多劳多得”，让辛勤劳动者获得更多回报，激发全社会创造活力；鼓励勤劳致富，为每一位劳动者提供公平的机会，助力他们通过诚实劳动实现自身价值。

The participation of factors of production in distribution according to their contribution, as an important part of China's distribution mode, plays a significant role in promoting economic growth, advancing social progress, and achieving a balance between efficiency and fairness. Distribution according to factors distributes income based on the contribution of factors of production (such as labor, capital, land, knowledge, technology, management, data, etc.) in economic development. It not only embodies the principles of fairness and efficiency of the market economy but also promotes the effective allocation of resources and high-quality economic development. To further stimulate market vitality and social creativity, it is necessary to improve the policy system for distribution according to factors, clarify the protection of property rights for various factors, and ensure that owners of various factors can participate fairly in market competition; establish and improve the factor market system to promote the free flow and optimal allocation of factors; focus on regulating excessively high incomes, standardizing hidden incomes, and banning illegal incomes to ensure fair and reasonable income distribution; increase support for low-income groups, narrow the income distribution gap, and promote the realization of the goal of common prosperity.

生产要素按贡献参与分配作为我国分配方式的重要内容，在促进经济增长、推动社会进步、实现效率与公平兼顾等方面发挥着重要作用。按要素分配是根据生产要素（如劳动、资本、土地、知识、技术、管理、数据等）在经济发展中的贡献来分配收入，不仅体现了市场经济的公平与效率原则，还促进了资源的有效配置和经济的高质量发展。为进一步激发市场活力和社会创造力，要完善按要素分配政策制度，明确各类要素的产权保护，确保各类要素所有者能够公平参与市场竞争；要建立健全要素市场体系，促进要素自由流动和优化配置；要注重调节过高收入，规范隐性收入，取缔非法收入，确保收入分配公平合理；加大对低收入群体的支持力度，缩小收入分配差距，推动共同富裕目标的实现。

Building a coordinated and supporting institutional system of primary distribution, redistribution, and tertiary distribution is an important pathway to achieving common prosperity. Adhere to distribution according to work as the mainstay and the coexistence of multiple modes of distribution, distributing according to the contribution of factors of production such as land, capital, labor, and data in the production process; improve redistribution adjustment mechanisms such as taxation, social security, and transfer payments to compensate for the deficiencies of primary distribution and place greater emphasis on fairness; guide and support willing and capable enterprises, social organizations, and individuals to actively participate in public welfare and charitable undertakings, serving as a beneficial supplement to primary distribution and redistribution, improving income distribution, and promoting social harmony. The three distributions are both distinct and interconnected: primary distribution is the foundation, redistribution is the guarantee, and tertiary distribution is the supplement. The three coordinate and support each other, jointly promoting the realization of the goal of common prosperity.

构建初次分配、再分配、第三次分配协调配套的制度体系，是实现共同富裕的重要途径。坚持按劳分配为主体，多种分配方式并存，根据土地、资本、劳动、数据等生产要素在生产过程中的贡献进行分配；完善税收、社会保障、转移支付等再分配调节机制，弥补初次分配的不足，更加注重公平；引导、支持有意愿有能力的企业、社会组织和个人积极参与公益慈善事业，作为初次分配和再分配的有益补充，改善收入分配，促进社会和谐。三次分配相互区别又相互联系：初次分配是基础，再分配是保障，第三次分配是补充，三者相互协调、相互配套，共同推动共同富裕目标的实现。

IV

四

General Secretary Xi Jinping pointed out, "Developing a market economy under socialist conditions is a great innovation of our Party. A key factor in the great success of China's economic development is that we have leveraged both the strengths of the market economy and the superiority of the socialist system." [2]2 Xi Jinping, "Speech at the 28th Collective Study Session of the Political Bureau of the 18th Central Committee," November 2015. Facing the development requirements of the New Era, the Third Plenary Session of the 20th Central Committee of the Party established the strategic goal of comprehensively building a high-level socialist market economy system by 2035. This marks China's economic system reform entering a new historical stage. This strategic deployment aims to start from a higher starting point, pursue a higher level, set higher goals, comprehensively deepen economic system reform, further release market potential and vitality, and promote high-quality economic development.

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”。面对新时代的发展要求，党的二十届三中全会确立了到2035年全面建成高水平社会主义市场经济体制的战略目标，这标志着我国经济体制改革进入一个新的历史阶段。这一战略部署，旨在从更高起点出发，以更高层次为追求，设定更高目标，全面深化经济体制改革，进一步释放市场潜力与活力，推动经济高质量发展。

Handling the relationship between the government and the market is the core issue of economic system reform and the key to promoting high-quality economic development. Giving full play to the decisive role of the market in resource allocation and better playing the role of the government is the theoretical crystallization of our Party's great practice of leading the economic construction of a socialist country in the new development stage, keeping pace with the times. It is a new breakthrough in our Party's understanding of the laws governing the construction of socialism with Chinese characteristics, a new achievement in adapting Marxism to the Chinese context and the needs of the times, and marks the entry of the socialist market economy into a new stage. We must scientifically define the boundaries between the government and the market, promote a better combination of an effective market and a competent government, achieving both "vitality through liberalization" and "control through regulation"; strengthen their organic integration and policy coordination, forming a pattern of organic unity, mutual supplementation, mutual coordination, and mutual promotion, jointly promoting the continuous improvement and development of the high-level socialist market economy system.

处理好政府和市场的关系，是经济体制改革的核心问题，也是推动经济高质量发展的关键。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，是新发展阶段我们党与时俱进领导社会主义国家经济建设伟大实践的理论结晶，是我们党对中国特色社会主义建设规律认识的一个新突破，是马克思主义中国化时代化的一个新的成果，标志着社会主义市场经济发展进入一个新阶段。我们要科学界定政府和市场的边界，推动有效市场和有为政府更好结合，既“放得活”又“管得住”；要加强二者的有机结合和政策协同，形成有机统一、相互补充、相互协调、相互促进的格局，共同推动高水平社会主义市场经济体制的不断完善和发展。

Building a unified national market is a major decision made by the Party Central Committee with Comrade Xi Jinping at its core from an overall and strategic perspective. The Third Plenary Session of the 20th Central Committee of the Party further established building a unified national market as an important part of building a high-level socialist market economy system and deployed major reform measures. This is an active choice consistent with the laws of market economy development and the actual situation of China's economic development. In the New Era, to build a new development pattern and promote high-quality economic development, we must accelerate the construction of a unified national market that is efficient, standardized, fair, competitive, and fully open. Improve the systems and rules for factor markets, promote the smooth flow of production factors, efficient allocation of various resources, and full release of market potential; improve the circulation system, accelerate the development of the Internet of Things, and establish coherent and integrated circulation rules and standards; accelerate the cultivation of a complete domestic demand system, enhance the foundational role of consumption in economic development and the key role of investment in optimizing the supply structure.

构建全国统一大市场，是以习近平同志为核心的党中央从全局和战略高度作出的重大决策。党的二十届三中全会进一步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，并部署了重大改革举措，这是符合市场经济发展规律和我国经济发展实际的主动选择。新时代，为构建新发展格局，推动经济高质量发展，必须加快建设高效规范、公平竞争、充分开放的全国统一大市场。完善要素市场制度和规则，推动生产要素畅通流动、各类资源高效配置、市场潜力充分释放；完善流通体制，加快发展物联网，健全一体衔接的流通规则和标准；加快培育完整内需体系，增强消费对经济发展的基础性作用和投资对优化供给结构的关键作用。

The basic institutions of the market economy, such as property rights protection, market access, fair competition, and social credit, are the fundamental guarantees for the effective operation of the socialist market economy, the necessary prerequisites for ensuring that the market plays a decisive role in resource allocation and that the government better fulfills its role, and the inherent requirements for building a high-level socialist market economy system. General Secretary Xi Jinping has repeatedly emphasized the need to accelerate the improvement of basic institutions of the market economy, including property rights protection, market access, fair competition, and social credit. He pointed out that these institutions are important components of building a high-level socialist market economy system and are of great significance for promoting high-quality economic development. 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's Central Committee, held in July 2024, which focused on further deepening reform comprehensively to advance Chinese-path modernization. made important arrangements for "improving the basic institutions of the market economy." To build a high-level socialist market economy system, it is necessary to accelerate the establishment and improvement of a modern property rights system based on the principle of fairness, with clear ownership, well-defined rights and responsibilities, strict protection, and smooth transfer; to protect equally according to law the property rights and autonomous management rights of enterprises under all forms of ownership, so that market entities have a greater sense of security and belonging; to improve the market access system, optimize the market access environment for new business forms and new fields, and create a market-oriented, law-based, and internationalized first-class business environment.

产权保护、市场准入、公平竞争、社会信用等市场经济基础制度，是社会主义市场经济有效运行的基本保障，是确保充分发挥市场在资源配置中的决定性作用、更好发挥政府作用的必要前提，是构建高水平社会主义市场经济体制的内在要求。习近平总书记多次强调，要加快完善产权保护、市场准入、公平竞争、社会信用等市场经济基础制度。他指出，这些制度是构建高水平社会主义市场经济体制的重要内容，对于推动经济高质量发展具有重要意义。党的二十届三中全会对“完善市场经济基础制度”作出重要部署。为构建高水平社会主义市场经济体制，必须加快建立健全以公平为原则，归属清晰、权责明确、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，让经营主体有更多的安全感、归属感；完善市场准入制度，优化新业态新领域市场准入环境，营造市场化、法治化、国际化一流营商环境。

Online editor: Paul

网络编辑：保罗