Deeply Understanding the Theoretical Connotations and Innovative Contributions of Fostering a New Development Paradigm

In 2020, General Secretary Xi Jinping proposed fostering a new development paradigm with domestic circulation as the mainstay and domestic and international circulations reinforcing each other at the seventh meeting of the Central Committee for Financial and Economic Affairs under the 19th Party Central Committee. He has since elaborated on it on multiple occasions, making it an important component of Xi Jinping’s economic thought and providing a fundamental guideline for consolidating the foundation of China’s economic development and enhancing the security and stability of development. On April 30 of this year, when presiding over a symposium on economic and social development during the 15th Five-Year Plan period for some provinces, autonomous regions, and municipalities directly under the central government, General Secretary Xi Jinping emphasized: “We must unswervingly handle our own affairs well, unswervingly expand high-standard opening up, take multiple measures to stabilize employment, stabilize enterprises, stabilize the market, and stabilize expectations, effectively stabilize the economic fundamentals, accelerate the fostering of a new development paradigm, and comprehensively promote high-quality development.” This provides scientific guidance for our sound planning of economic and social development during the 15th Five-Year Plan period.

2020年，习近平总书记在十九届中央财经委员会第七次会议上提出构建以国内大循环为主体、国内国际双循环相互促进的新发展格局，此后又多次作出深刻阐述，成为习近平经济思想的重要内容，为夯实我国经济发展的根基、增强发展的安全性稳定性提供了根本遵循。今年4月30日，习近平总书记主持召开部分省区市“十五五”时期经济社会发展座谈会时强调：“要坚定不移办好自己的事，坚定不移扩大高水平对外开放，多措并举稳就业、稳企业、稳市场、稳预期，有效稳住经济基本盘，加快构建新发展格局，全面推动高质量发展。”这为我们科学谋划好“十五五”时期经济社会发展提供了科学指引。

As an original and iconic concept in Xi Jinping’s economic thought, fostering a new development paradigm achieves an organic unity of strategic, theoretical, and practical dimensions. From a strategic perspective, fostering a new development paradigm is a major decision and deployment made by the Party Central Committee with Comrade Xi Jinping at its core, based on changes in China’s development stage, environment, and conditions, with a view to achieving the Second Centenary Goal [1]1 The Second Centenary Goal refers to building China into a great modern socialist country that is prosperous, strong, democratic, culturally advanced, harmonious, and beautiful by the middle of the 21st century, the centenary of the founding of the People’s Republic of China. and seizing the initiative in future development. It is a strategic choice to reshape China’s new advantages in international cooperation and competition and a major strategic task concerning the overall situation of China’s development. From a theoretical perspective, fostering a new development paradigm inherits and develops the theoretical analytical framework of Marxist political economy concerning economic circulation and social reproduction. In scientifically answering the questions of the era concerning China’s economic development in the New Era, it deepens our Party’s understanding of the laws governing the development of a socialist economy with Chinese characteristics and achieves innovative development of Marxist political economy. From a practical perspective, fostering a new development paradigm clarifies the path choice for China’s economic modernization. It can guide us on how to enhance the endogenous driving force and reliability of domestic circulation, how to improve the quality and level of international circulation in promoting the healthy development of economic globalization, and how to better coordinate domestic and international circulations, thereby providing a scientific path for China’s transformation from a large economy to a strong economy.

作为习近平经济思想中具有原创性、标识性的概念，构建新发展格局实现了战略性、理论性、实践性的有机统一。从战略上看，构建新发展格局是以习近平同志为核心的党中央根据我国发展阶段、环境、条件变化，着眼实现第二个百年奋斗目标、把握未来发展主动权，审时度势作出的重大决策部署，是重塑我国国际合作和竞争新优势的战略抉择，是一项关系我国发展全局的重大战略任务。从理论上看，构建新发展格局继承和发展了马克思主义政治经济学关于经济循环、社会再生产等理论分析框架，在科学回答新时代我国经济发展的时代之问中，深化了我们党对中国特色社会主义经济发展规律的认识，实现了对马克思主义政治经济学的创新发展。从实践上看，构建新发展格局明确了我国经济现代化的路径选择，能够指导我们如何增强国内大循环内生动力和可靠性、如何在推进经济全球化健康发展中提升国际循环质量和水平、如何更好统筹国内循环和国际循环等，为我国由经济大国向经济强国转变提供了科学路径。

Deeply comprehending and accurately grasping the theoretical connotations, innovative contributions, and practical requirements of fostering a new development paradigm—this original and iconic concept—is conducive to enhancing our political awareness, strengthening strategic thinking, improving professional capabilities, and doing a good job in economic work. It helps us maintain strategic resolve and firm confidence in development amid the current complex and volatile international situation, and to respond to various uncertainties with the certainty of high-quality development.

深刻领会、准确把握构建新发展格局这一原创性概念、标识性概念的理论内涵、创新贡献和实践要求，有利于我们提高政治意识、增强战略思维、提升专业能力、做好经济工作，在当前复杂多变的国际形势下保持战略定力、坚定发展信心，以高质量发展的确定性应对各种不确定性。

Deepening the Understanding of the Laws of Economic Circulation in Marxist Political Economy

深化了马克思主义政治经济学关于经济循环规律的认识

Economic operation is a dynamic cycle of repeated, spiraling upward movement. Economic circulation is an important subject of study in Marxist political economy. Marxism holds that economic operation is a process of cyclical movement through the four links of production, distribution, exchange, and consumption, where production appears as the starting point, consumption as the end point, and distribution and exchange as intermediate links. In this process of cyclical movement, production determines distribution, exchange, and consumption, while distribution, exchange, and consumption react upon production, forming a relationship of mutual connection, interdependence, and mutual promotion among all links. Generally speaking, if economic circulation is smooth, material products and social wealth increase continuously, achieving an effective balance between supply and demand, and the national economy will form a benign development process of spiraling upward. If the links are not smooth and circulation is blocked, it will affect the quality and efficiency of economic operation.

经济运行是一个周而复始、螺旋上升的动态循环。经济循环是马克思主义政治经济学研究的重要内容。马克思主义认为，经济运行是生产、分配、交换、消费四个环节的循环往复运动过程，其中生产表现为起点，消费表现为终点，分配和交换表现为中间环节。在这个循环往复运动的过程中，生产决定分配、交换、消费，分配、交换、消费反作用于生产，各个环节之间形成相互联系、相互依存、相互促进的关系。一般来看，如果经济循环畅通，物质产品和社会财富持续增加，实现供需有效平衡，国民经济运行将形成螺旋上升的良性发展过程；如果各环节之间不畅通、循环受阻，则会影响经济运行的质效。

General Secretary Xi Jinping points out: “The advantage of a large country’s economy lies in its ability to circulate internally” [2]2 This is a quotation from Xi Jinping’s remarks.; “We must properly coordinate the relationship between aggregate supply and aggregate demand to smooth the circulation of the national economy”; “The smoother the domestic circulation, the stronger the gravitational field it forms for global resources and factors, the more conducive it is to fostering a new development paradigm with domestic circulation as the mainstay and domestic and international circulations reinforcing each other, and the more conducive it is to forming new advantages in participating in international competition and cooperation.” Currently, China is in a critical period of economic structural transformation, industrial upgrading, and consumption expansion and quality improvement. At the same time, there are still many blockages and bottlenecks in the construction of a unified national market. This places higher demands on promoting the unimpeded circulation of the economy and achieving dynamic balance and positive interaction between the supply and demand sides. Judging from the realistic characteristics of China’s super-large market scale and the persistent problems of unbalanced and inadequate development, smoothing economic circulation cannot start from a single link alone. It requires simultaneous efforts in the links of production, distribution, exchange, and consumption, so that the combination of various production factors is organically connected and circulates smoothly in each link, continuously improving the quality and efficiency of national economic operation.

习近平总书记指出：“大国经济的优势就是内部可循环”“必须统筹好总供给和总需求的关系，畅通国民经济循环”“国内循环越顺畅，越能形成对全球资源要素的引力场，越有利于构建以国内大循环为主体、国内国际双循环相互促进的新发展格局，越有利于形成参与国际竞争和合作新优势。”当前，我国正处于经济结构转型、产业优化升级、消费扩容提质的关键期，同时全国统一大市场建设还存在不少堵点、卡点问题。这对促进经济循环畅通无阻，实现供给和需求两端的动态平衡、良性互动提出了更高要求。从我国市场规模超大、发展不平衡不充分问题仍然存在等现实特征来看，畅通经济循环不能仅从单一环节入手，需要针对生产、分配、交换、消费各环节同时发力，使各种生产要素的组合在各环节有机衔接、循环流转，持续不断提高国民经济运行的质效。

Fostering a new development paradigm further enriches and expands the connotations and extensions of each link in the analytical framework of economic circulation in Marxist political economy. It emphasizes removing blockages and bottlenecks in the process of economic circulation, promoting the organic connection and smooth circulation of various production factors and their combinations in the links of production, distribution, circulation, and consumption, and making simultaneous and coordinated efforts on both the supply and demand sides to achieve a virtuous cycle of the national economy. This transcends the limitations of Western economics, which, in analyzing the operation of capitalist economies, neglects the intrinsic connection between supply and demand. It more profoundly answers major propositions such as how to smooth economic circulation under the conditions of a socialist market economy and how to better coordinate the supply-demand relationship. First, it not only emphasizes the balance between supply and demand but also places greater importance on enhancing the adaptability and flexibility of the supply structure to changes in demand under conditions of technological progress. This will fully stimulate the role of “production” as the starting point and “consumption” as the end point in the national economic cycle, forming a higher-level dynamic balance where demand drives supply and supply creates demand. To this end, we must insist on coordinated and simultaneous efforts on both the supply and demand sides for dynamic balance, organically combining the implementation of the strategy of expanding domestic demand with deepening supply-side structural reform, achieving a balance in total supply and demand, structural optimization, and internal and external equilibrium. Second, it emphasizes optimizing and improving the distribution system, properly dividing the “cake” while making it bigger, and taking the improvement of people’s quality of life as the starting point and落脚点 [3]3 The term “落脚点” (luòjiǎo diǎn) literally means “foothold” or “point of arrival”; in this context, it signifies the ultimate goal or fundamental purpose. of smoothing domestic circulation and as the key junction for the mutual reinforcement of domestic and international circulations. This is not only a vivid manifestation of the fundamental purpose of socialist production but also conducive to enhancing the endogenous driving force of high-quality development. To this end, we must establish and improve long-term mechanisms for expanding household consumption, effectively safeguard workers’ treatment and rights and interests, continuously expand the size of the middle-income group, seek more benefits for the people’s livelihood and relieve their concerns, and activate the potential of the “distribution” link to promote economic circulation. Third, it highlights the fundamental role of the circulation system in the national economy, expanding the “exchange” link to encompass the construction of a unified national market, including commerce, logistics, transportation, finance, credit, and other aspects, thereby enriching the spatial scenarios and related fields of the “exchange” link.

构建新发展格局进一步丰富拓展了马克思主义政治经济学关于经济循环分析框架中各环节的内涵外延，强调要打通经济循环过程中的堵点断点，促进各种生产要素及其组合在生产、分配、流通、消费各环节有机衔接，供需两端同时发力、协调配合，实现国民经济良性循环。这超越了西方经济学在分析资本主义经济运行时忽视供需之间内在联系的局限性，更深刻回答了在社会主义市场经济条件下如何畅通经济循环、如何更好协同供需关系等重大命题。一是不仅强调供给和需求相互之间的平衡，同时更加重视在技术进步条件下增强供给结构对需求变化的适应性和灵活性。这将充分激发“生产”这个起点和“消费”这个终点在国民经济循环中的作用，形成需求牵引供给、供给创造需求的更高水平动态平衡。为此，必须坚持供需两侧协同发力、动态平衡，把实施扩大内需战略同深化供给侧结构性改革有机结合起来，实现供给与需求总量平衡、结构优化、内外均衡。二是强调优化完善分配制度，在做大“蛋糕”的同时分好“蛋糕”，把提高人民生活品质作为畅通国内大循环的出发点和落脚点以及国内国际双循环相互促进的关键联结点。这不仅是社会主义生产根本目的的生动体现，也有利于增强高质量发展的内生动力。为此，要建立和完善扩大居民消费的长效机制，切实保障劳动者待遇和权益，不断壮大中等收入群体规模，多谋民生之利、多解民生之忧，激活“分配”环节促进经济循环的潜力。三是突出流通体系在国民经济中的基础性作用，将“交换”环节拓展为涵盖全国统一大市场建设，包含商贸、物流、交通、金融、信用等多方面，丰富了“交换”环节的空间场景和涉及领域。

Overall, fostering a new development paradigm scientifically answers major questions such as why we should take domestic demand as the basic foothold and how to establish a strong and complete domestic demand market system. It provides logical guidance and forward momentum for us to strengthen our confidence and resolve, and to stabilize the economic fundamentals by relying on unleashing the potential of the huge domestic market.

总的来看，构建新发展格局科学回答了为什么要以国内需求为基本立足点、如何建立强大完整的内需市场体系等重大问题，为我们坚定底气和信心，依靠释放强大国内市场潜力稳固经济基本盘提供了逻辑遵循和前进动力。

Forming a New Interpretation of the World Market in Marxist Political Economy

形成了马克思主义政治经济学关于世界市场的新阐释

Marxist political economy has long focused on issues such as the world market and global economic development. Marx and Engels pointed out: “The more the original isolation of separate nationalities is destroyed by the developed mode of production and intercourse and the division of labour between various nations naturally brought forth by these, the more history becomes world history.” “The bourgeoisie, by the rapid improvement of all instruments of production, by the immensely facilitated means of communication, draws all, even the most barbarian, nations into civilisation. The cheap prices of commodities are the heavy artillery with which it batters down all Chinese walls, with which it forces the barbarians’ intensely obstinate hatred of foreigners to capitulate. It compels all nations, on pain of extinction, to adopt the bourgeois mode of production; it compels them to introduce what it calls civilisation into their midst, i.e., to become bourgeois themselves. In one word, it creates a world after its own image.” Engels, in *Principles of Communism*, stated: “Thus big industry has brought all the peoples of the earth into relations with each other, has merged all local markets into one world market, has prepared the ground for civilisation and progress everywhere, and has ensured that everything that happens in the civilised countries must affect all other countries.” Marxist political economy explains the process of economic globalisation from the perspective of the development of social productive forces, pointing out that economic globalisation is the objective requirement of the development of social productive forces and the inevitable result of scientific and technological progress, an inevitable trend in the development of human society, and profoundly revealing the essence, logic, and process of economic globalisation. The prophecy Marx and Engels made back then has now become reality; history and reality increasingly prove the scientific value of this prophecy.

马克思主义政治经济学一直关注世界市场、全球经济发展等问题。马克思、恩格斯指出：“各民族的原始封闭状态由于日益完善的生产方式、交往以及因交往而自然形成的不同民族之间的分工消灭得越是彻底，历史也就越是成为世界历史”“资产阶级，由于开拓了世界市场，使一切国家的生产和消费都成为世界性的了。”恩格斯在《共产主义原理》中指出：“这样，大工业便把世界各国人民互相联系起来，把所有地方性的小市场联合成为一个世界市场，到处为文明和进步做好了准备，使各文明国家里发生的一切必然影响到其余各国。”马克思主义政治经济学从社会生产力发展的视角解释经济全球化进程，指明了经济全球化是社会生产力发展的客观要求和科技进步的必然结果，是人类社会发展的必然趋势，深刻揭示了经济全球化的本质、逻辑和过程。马克思、恩格斯当年的这个预言，现在已经成为现实，历史和现实日益证明这个预言的科学价值。

General Secretary Xi Jinping points out: “The new development pattern is not a closed domestic loop, but an open dual circulation of domestic and international markets.” “China does not seek to stand out alone, does not engage in zero-sum games, and will not close its doors to operate in isolation. It will gradually form a new development pattern with domestic circulation as the mainstay and domestic and international circulations reinforcing each other, opening up space for China’s economic development and adding impetus to world economic recovery and growth.” Today, the global nature of human interaction is deeper and broader than ever before; the mutual connections and interdependence among countries are more frequent and closer than ever before. Economic globalisation has become an irreversible trend of the times. China has long been deeply integrated into the world economic system, becoming a major trading partner for over 150 countries and regions, and has long maintained its position as the world’s second-largest recipient of foreign capital. The domestic circulation has a strong attraction and influence on countries around the world. In 2023, while global foreign direct investment fell by 2% and cross-border mergers and acquisitions were at their lowest level in recent years, China’s outward foreign direct investment grew by 8.7%, and its outward FDI flow accounted for 11.4% of the global share in the same period. In 2024, China’s outward direct investment across all industries increased by 11.3% year-on-year, continuously improving the quality and level of international circulation. Although economic globalisation has encountered headwinds in recent years, especially with the rise of hegemonism, power politics, and trade protectionism, and the momentum of international economic circulation has noticeably weakened, the trend of economic globalisation is unstoppable. Deepening international economic cooperation is the common choice of most countries. China insists on opening its doors ever wider to the outside world, injecting rare stability and certainty into world economic growth, and is continuously committed to promoting the healthy development of economic globalisation.

习近平总书记指出：“新发展格局不是封闭的国内循环，而是开放的国内国际双循环”“中国不追求一枝独秀，不搞你输我赢，也不会关起门来封闭运行，将逐步形成以国内大循环为主体、国内国际双循环相互促进的新发展格局，为中国经济发展开辟空间，为世界经济复苏和增长增添动力。”今天，人类交往的世界性比过去任何时候都更深入、更广泛，各国相互联系和彼此依存比过去任何时候都更频繁、更紧密，经济全球化已经成为不可逆转的时代潮流。我国早已同世界经济体系深度融合，成为150多个国家和地区的主要贸易伙伴，长期保持全球第二大外资流入国地位，国内大循环对世界各国具有强大吸引力和影响力。2023年，在全球外国直接投资下降2%、跨境并购规模为过去几年最低的情况下，我国对外直接投资增长8.7%，同期对外直接投资流量占全球份额的11.4%；2024年，我国全行业对外直接投资较上年增长11.3%，推动国际循环质量和水平不断提升。虽然近年来经济全球化遭遇逆流，特别是霸权主义、强权政治和贸易保护主义抬头，国际经济循环的动能明显减弱，但经济全球化潮流势不可挡，深化国际经济合作是大多数国家的共同选择。我国坚持对外开放的大门越开越大，为世界经济增长注入难能可贵的稳定性和确定性，持续致力于推进经济全球化健康发展。

Fostering a new development pattern innovatively applies the analytical framework of Marxist political economy concerning economic globalisation, firmly conforms to the general trend of economic globalisation, and emphasises that domestic and foreign markets are interdependent and mutually reinforcing. Taking domestic circulation as the mainstay by no means means closing the door to operate in isolation; rather, it requires actively integrating into the world economic system and achieving mutual benefit and win-win outcomes with other countries, thereby transcending the logical limitations of Western economics, which studies international economic cooperation from the perspective of maximising self-interest. First, it emphasises the necessity of having a strong domestic economic circulation system and a solid foundation, thereby forming a strong attraction for global factors and resources, and using international circulation to enhance the efficiency and level of domestic circulation, explaining the internal mechanism of interaction and mutual promotion between the domestic economy and economic globalisation. Second, it emphasises promoting high-level opening up, continuously deepening the opening of flows of goods, services, capital, talent, and other factors, and steadily expanding institutional opening up in terms of rules, regulations, management, and standards. At the same time, it optimises the layout of regional opening up, accelerates the construction of the New International Land-Sea Trade Corridor, accelerates the construction of the Hainan Free Trade Port, and implements the strategy of upgrading pilot free trade zones, forming growth points for participating in international circulation. This provides an effective path for actively shaping a favourable international economic and trade cooperation environment and improving the quality and level of international economic circulation during the transition from a large economy to a strong economy. Third, it promotes high-quality joint construction of the Belt and Road Initiative, actively participates in negotiations on international economic and trade rules, promotes the formation of an open, diverse, and stable world economic order, and enhances China’s voice in international circulation, creating conditions for the linkage and circulation of both domestic and international markets and resources. Fourth, it advocates building an open world economy, continuously promoting economic globalisation towards a more open, inclusive, balanced, and win-win direction for all, and promoting the formation of an open, diverse, and stable world economic order, pointing the way for the healthy development of economic globalisation.

构建新发展格局创新运用马克思主义政治经济学关于经济全球化的分析框架，坚定顺应经济全球化大势，强调内外需市场是相互依存、相互促进的，以国内大循环为主体绝不是关起门来封闭运行，而要积极主动融入世界经济体系，同世界各国互利共赢，超越了西方经济学从追求利益最大化视角研究国际经济合作的逻辑局限。一是强调必须具备强大的国内经济循环体系和稳固的基本盘，以此形成对全球要素资源的强大吸引力，并以国际循环提升国内大循环的效率和水平，阐释了国内经济运行与经济全球化互动互促的内在机理。二是强调推进高水平对外开放，持续深化商品、服务、资金、人才等要素流动型开放，稳步拓展规则、规制、管理、标准等制度型开放；同时，优化区域开放布局，加快建设西部陆海新通道，加快建设海南自由贸易港，实施自由贸易试验区提升战略，形成参与国际大循环的增长点，为经济大国向经济强国转变过程中积极塑造良好国际经贸合作环境、提升国际经济循环质量水平提供了有效路径。三是推动高质量共建“一带一路”，积极参与国际经贸规则谈判，推动形成开放、多元、稳定的世界经济秩序，增强在国际大循环中的话语权，为实现国内国际两个市场、两种资源联动循环创造条件。四是主张构建开放型世界经济，持续推动经济全球化朝着更加开放、包容、普惠、平衡、共赢的方向发展，推动形成开放、多元、稳定的世界经济秩序，为促进经济全球化健康发展指明了方向。

Overall, fostering a new development pattern profoundly answers major propositions such as how to promote the linkage between domestic and foreign markets and how to advance the healthy development of economic globalisation. By leveraging the potential of domestic demand, it will better connect the domestic and international markets, make better use of both domestic and international markets and resources, and achieve stronger and more sustainable development.

总的来看，构建新发展格局深刻回答了如何促进内外市场联动、如何推进经济全球化健康发展等重大命题，将通过发挥内需潜力，使国内市场和国际市场更好联通，更好利用国际国内两个市场、两种资源，实现更加强劲可持续的发展。

It has developed the Marxist political economy theory of social reproduction.

发展了马克思主义政治经济学关于社会再生产的理论

In *Capital*, Marx profoundly analysed the general laws of the movement of social reproduction, founded the theory of social reproduction, and divided reproduction into two aspects: simple reproduction and expanded reproduction. Simple reproduction refers to the production process repeated on the original path and scale, and is the foundation and prerequisite for expanded reproduction. Expanded reproduction refers to the addition of new means of production to the production process, including extensive expanded reproduction achieved by increasing the input of factors of production, intensive expanded reproduction achieved by improving the output efficiency of factors of production, and reproduction achieved through a combination of the two. In this process, Marx also revealed the internal mechanism of the development of social productive forces, pointing out that “the productive forces of labour are determined by multiple circumstances, among them the average degree of skill of the workers, the level of development of science and its technological application, the social organisation of the production process, the scale and effectiveness of the means of production, and the natural conditions,” providing guidance for liberating and developing social productive forces.

马克思在《资本论》中深刻剖析了社会再生产运动的一般规律，创立了社会再生产理论，并将再生产分为简单再生产和扩大再生产两个方面。简单再生产是指在原有路径和规模上重复进行的生产过程，是扩大再生产的基础和前提；扩大再生产是指向生产过程中追加新的生产资料，包括通过增加生产要素投入的外延式扩大再生产、通过提高生产要素产出效率的内涵式扩大再生产以及二者相结合实现的再生产。在这一过程中，马克思还揭示了社会生产力发展的内在机理，指出“劳动生产力是由多种情况决定的，其中包括：工人的平均熟练程度，科学的发展水平和它在工艺上应用的程度，生产过程的社会结合，生产资料的规模和效能，以及自然条件”，为解放和发展社会生产力提供了指引。

General Secretary Xi Jinping points out: “We must accelerate self-reliance and self-improvement in science and technology. This is the key to ensuring the smooth flow of domestic circulation and shaping new advantages for our country in international circulation.” “To promote domestic circulation, we must adhere to the main line of supply-side structural reform, improve the quality and level of the supply system, create new demand with new supply, and scientific and technological innovation is the key. To smooth domestic and international dual circulation, we also need scientific and technological strength to ensure the security and stability of industrial and supply chains.” Currently, a new round of scientific and technological revolution and industrial transformation is accelerating. The role of scientific and technological innovation in the development of social productive forces has increased unprecedentedly. Major countries in the world are increasing the proportion of input of new factors of production such as technology and data in social reproduction. Historical experience fully proves that the comprehensive competitiveness of a major country is reflected not only in its population size and economic volume, but more so in the quality and efficiency of the development of its social productive forces, and in whether it can innovatively optimise the structure of factor inputs and continuously inject new vitality into the development of social productive forces. As China’s economy shifts from a stage of high-speed growth to a stage of high-quality development, the relative advantages of production factors have changed. Labour costs and resource and environmental constraints have continuously increased. The original combination mode of the production function is no longer sustainable. This objectively requires accelerating the transformation of the economic development mode from factor-driven to innovation-driven, and from scale-speed type to quality-efficiency type. At the same time, it should be noted that the situation in which China is constrained by others in some key core technologies in certain fields has not fundamentally changed. With a view to the goal of building a strong country and achieving national rejuvenation, and to seize strategic initiative in the increasingly fierce international competition, the factor input structure of China’s social reproduction must be optimised and upgraded towards a higher end, relying on innovation-driven intensive growth to achieve high-level scientific and technological self-reliance and self-strengthening.

习近平总书记指出：“要加快科技自立自强。这是确保国内大循环畅通、塑造我国在国际大循环中新优势的关键”“推动国内大循环，必须坚持供给侧结构性改革这一主线，提高供给体系质量和水平，以新供给创造新需求，科技创新是关键。畅通国内国际双循环，也需要科技实力，保障产业链供应链安全稳定。”当前，新一轮科技革命和产业变革加速演进，科技创新对社会生产力发展的作用空前增强，世界主要国家纷纷加大技术、数据等新生产要素在社会再生产中的投入比重。历史经验充分证明，大国综合竞争力不仅体现为人口规模、经济体量，更多体现为社会生产力的发展质量和效率，体现为是否能够创新优化要素投入结构，不断为社会生产力发展注入新的活力。随着我国经济由高速增长阶段转向高质量发展阶段，生产要素相对优势出现了变化，劳动力成本和资源环境约束持续上升，原有的生产函数组合方式已难以持续，客观上要求推动经济发展方式加快由要素驱动向创新驱动转变、由规模速度型向质量效益型转变。同时应该看到，我国部分领域关键核心技术受制于人的局面尚未根本改变。着眼强国建设、民族复兴伟业目标，在日趋激烈的国际竞争中把握战略主动，要求我国社会再生产的要素投入结构必须向更加高端的方向优化升级，依靠创新驱动的内涵型增长实现高水平科技自立自强。

Fostering a new development paradigm, based on the evolution of the times and developmental needs, elevates independent innovation to an unprecedented height of determining survival and development, clarifies that achieving a high level of self-reliance and self-strengthening is the most essential feature of fostering a new development paradigm, and profoundly answers major propositions such as how to improve the efficiency of resource allocation and raise the level of social reproduction in the process of transforming a large economic country into a strong economic country. First, it deepens the understanding of science and technology as the primary productive force, emphasizing that science and technology are the primary productive force and the primary competitive force, and that we must fully leverage the significant advantage of China’s socialist system in concentrating resources to accomplish major tasks, fight the critical battle for core technologies in key areas, accelerate the pace of scientific and technological self-reliance and self-strengthening, and accelerate the conquest of “bottleneck” technologies in important fields. Second, it enriches and expands the types of production factors, emphasizing that, on the basis of rationally utilizing the role of traditional production factors such as labor, capital, and land, we should increase the input and use of new production factors such as knowledge, technology, management, and data, improve total factor productivity, and optimize and innovate the combination of production functions for expanding social reproduction under new technological conditions. Third, it emphasizes that the new development paradigm is based on a modernized industrial system, and that smooth economic circulation requires orderly linkages and efficient flows among various industries. We must rely on China’s ultra-large-scale market, complete industrial system, and strong production capacity to enhance the ability to gather global factors, accelerate the transformation of scientific and technological innovation achievements and factor inputs into real productive forces, coordinate industrial upgrading and industrial transfer from both temporal and spatial dimensions, promote deep integration of domestic and foreign industries, and build a modernized industrial system that is self-controllable, safe and reliable, and highly competitive.

构建新发展格局，立足时代演进和发展需要，把自主创新放在能否生存和发展的空前高度加以认识，明确实现高水平的自立自强是构建新发展格局最本质的特征，深刻回答了经济大国向经济强国转变过程中如何提高资源配置效率、提升社会再生产水平等重大命题。一是深化了对科学技术作为第一生产力的认识，强调科学技术是第一生产力、第一竞争力，要充分发挥我国社会主义制度能够集中力量办大事的显著优势，打好关键核心技术攻坚战，加快科技自立自强步伐，加快攻克重要领域“卡脖子”技术。二是丰富拓展了生产要素类型，强调在合理利用劳动、资本和土地等传统生产要素作用的基础上，加大知识、技术、管理、数据等新生产要素的投入使用，提高全要素生产率，优化创新了新技术条件下扩大社会再生产的生产函数组合方式。三是强调新发展格局以现代化产业体系为基础，经济循环畅通需要各产业有序链接、高效畅通。要依托我国超大规模市场、完备产业体系和强大的生产能力，增强汇聚全球要素能力，加速科技创新成果、要素投入向现实生产力转化，从时空两方面统筹抓好产业升级和产业转移，促进内外产业深度融合，打造自主可控、安全可靠、竞争力强的现代化产业体系。

Overall, fostering a new development paradigm points out the path for China to expand social reproduction. By vigorously promoting scientific and technological innovation and innovation in other aspects, it points the way for forming more new growth points and growth poles, and for making efforts to unblock all links of production, distribution, circulation, and consumption.

总的来看，构建新发展格局指明了我国扩大社会再生产的实现路径，通过大力推进科技创新及其他各方面创新，为形成更多新的增长点、增长极，着力打通生产、分配、流通、消费各个环节指明了方向。

It has elevated Marxist political economy’s understanding and grasp of the contradictions in the operation of the capitalist economy.

提升了马克思主义政治经济学对资本主义经济运行矛盾的认识和把握

Marxism holds that capital has an innate nature of pursuing profit, and that when capitalism develops to a certain stage, economic crises characterized by overproduction will inevitably occur. The periodic economic crises in the capitalist world are a concentrated manifestation of this law. Marx pointed out clearly in *Capital*: “The true barrier to capitalist production is capital itself” and “the absolute development of the productive forces, which constantly comes into conflict with the specific conditions of production within which capital moves, and alone can move.” The inherent contradiction of capitalism between socialized production and private ownership of the means of production has long existed, only with different forms of manifestation and characteristics at different stages. Within this framework, Marxist political economy analyzes the fundamental contradictions of the capitalist mode of production and reveals the root causes of capitalist economic crises. At the same time, Marx did not deny the positive role of capital in the development of productive forces, pointing out that capital “is conducive to the development of productive forces, conducive to the development of social relations, and conducive to the creation of various elements of a higher new form.”

马克思主义认为，资本具有逐利的天性，资本主义发展到一定阶段时将不可避免地发生以生产过剩为基本特征的经济危机，资本主义世界的周期性经济危机就是这一规律的集中体现。马克思在《资本论》中鲜明指出：“资本主义生产的真正限制是资本自身”“使生产力绝对发展，而这种发展和资本在其中运动、并且只能在其中运动的独特的生产条件不断发生冲突。”资本主义固有的生产社会化和生产资料私人占有之间的矛盾长期存在，只是在不同阶段的表现形式、存在特点有所不同。按照这一框架，马克思主义政治经济学分析了资本主义生产方式的根本矛盾，揭示了资本主义经济危机的根源。同时，马克思并不否定资本对生产力发展的积极作用，指出资本“有利于生产力的发展，有利于社会关系的发展，有利于更高级的新形态的各种要素的创造”。

General Secretary Xi Jinping pointed out: “Engaging in a socialist market economy is a great creation of our Party. Since it is a socialist market economy, various forms of capital will inevitably emerge” and “We must base ourselves on the new stage of development, implement the new development philosophy, foster a new development paradigm, promote high-quality development, and correctly handle the relationships between different forms of capital.” It should be recognized that capital always pursues profit. From the world economic crisis of the 1920s and 1930s to the world economic crisis triggered by stagflation in capitalist countries in the 1970s, and then to the unprecedented severe challenges posed to world economic development by the 2008 international financial crisis, which caused the trend of the economies of major capitalist countries shifting from real to virtual to intensify, these are all full manifestations of the profit-seeking nature of capital. We must fully recognize the basic reality that the inherent contradictions of capitalism still exist, fully recognize that there are many differences between capital in capitalist society and capital in socialist society, actively explore how to play the positive role of capital under the conditions of the socialist market economy while effectively controlling its negative role, earnestly leverage the institutional advantages of socialism with Chinese characteristics, neither allowing “capital tycoons” to act recklessly nor neglecting capital’s function as a factor of production, and always be prepared to deal with a series of new risks and challenges, achieving a positive interaction between high-quality development and high-level security.

习近平总书记指出：“搞社会主义市场经济是我们党的一个伟大创造。既然是社会主义市场经济，就必然会产生各种形态的资本”“我们要立足新发展阶段、贯彻新发展理念、构建新发展格局、推动高质量发展，正确处理不同形态资本之间的关系”。应当看到，资本都是要追逐利润的。从上世纪二三十年代的世界经济危机到20世纪70年代资本主义国家滞胀引发的世界经济危机，再到2008年国际金融危机对世界经济发展造成前所未有的严峻挑战、造成主要资本主义国家经济脱实向虚的势头愈演愈烈，都是资本逐利性的充分体现。我们必须充分认识资本主义固有内在矛盾依然存在这一基本现实，充分认识到资本主义社会的资本和社会主义社会的资本有很多不同，积极探索如何在社会主义市场经济条件下发挥资本的积极作用，同时有效控制资本的消极作用，切实发挥中国特色社会主义的制度优势，既不让“资本大鳄”恣意妄为，又要发挥资本作为生产要素的功能，并时刻做好应对一系列新的风险挑战的准备，实现高质量发展和高水平安全良性互动。

Fostering a new development paradigm transcends the cognitive limitations of Western economics, which evades the inherent contradictions of the capitalist economic operation. On the basis of insight into the profit-seeking nature of capital, the laws of capitalist economic operation, and the inevitability of capitalist economic crises, it emphasizes that if capital is not regulated and constrained, it will bring incalculable harm to economic and social development. It calls for firmly holding the bottom line of safe development while simultaneously leveraging the positive role of capital in promoting the development of social productive forces, profoundly answering major propositions such as how to effectively respond to the impact of capitalist economic crises and coordinate development and security. First, it distinguishes between “capital” and “capitalism.” While revealing the inherent contradictions of capitalism, it clarifies that under the socialist market economy system, capital is an important bond driving the agglomeration and allocation of various production factors and an important force in promoting the development of social productive forces. It requires correctly handling the relationships between different forms of capital, distinguishing them in nature, clarifying their positioning, and simultaneously strengthening effective supervision of capital in accordance with the law, curbing the disorderly expansion of capital. By improving basic market economy systems such as the property rights protection system, market access system, and fair competition system, improving the functions of the capital market, and regulating and guiding the healthy development of capital in accordance with the law, it provides a plan for leveraging the positive role of capital under the conditions of the socialist market economy. Second, it requires efforts to promote high-level opening up of the financial sector. This is an inevitable choice for enhancing the international competitiveness of China’s financial system, shaping new advantages, and playing a greater role in global economic and financial governance. To this end, we must adhere to the principle of “bringing in” and “going global” simultaneously, steadily expand institutional opening up in the financial field, improve the facilitation level of cross-border investment and financing, increase financial support for jointly building the Belt and Road Initiative, enhance the international hub status of China’s industrial and supply chains, and attract more foreign financial institutions and long-term capital to operate and do business in China. Third, it emphasizes the need to properly handle the relationship between opening up and security, weave a tight and secure net for opening up, enhance the ability to dynamically maintain national financial security in an open environment, guard against risks brought about by opening up itself, and also guard against risks deliberately created by competitors, providing a solution for us to actively respond to and prevent the impact of capitalist economic crises.

构建新发展格局超越了西方经济学回避资本主义经济运行内在矛盾的认识局限，在洞察资本逐利天性、资本主义经济运行规律和资本主义经济危机必然性的基础上，强调如不对资本加以规范和约束，就会给经济社会发展带来不可估量的危害，要牢牢守住安全发展这条底线，同时发挥资本促进社会生产力发展的积极作用，深刻回答了如何有效应对资本主义经济危机冲击、统筹发展和安全等重大命题。一是区别了“资本”和“资本主义”，在揭示资本主义固有内在矛盾的同时，明确在社会主义市场经济体制下，资本是带动各类生产要素集聚配置的重要纽带，是促进社会生产力发展的重要力量，要求正确处理不同形态资本之间的关系，在性质上要区分，在定位上要明确，同时依法加强对资本的有效监管，遏制资本无序扩张，通过完善产权保护制度、市场准入制度、公平竞争制度等市场经济基础制度，健全资本市场功能，依法规范和引导资本健康发展，为在社会主义市场经济条件下发挥资本的积极作用提供了方案。二是要求着力推进金融高水平开放。这是提升我国金融体系国际竞争力、塑造新优势并在全球经济与金融治理中发挥更大作用的必然选择。为此，要坚持“引进来”和“走出去”并重，稳步扩大金融领域制度型开放，提升跨境投融资便利化水平，加大对共建“一带一路”的金融支持，增强我国产业链供应链的国际枢纽地位，吸引更多外资金融机构和长期资本来华展业兴业。三是强调要把握好开放和安全的关系，织密织牢开放安全网，增强在对外开放环境中动态维护国家金融安全的本领，既要防范开放本身带来的风险，还要防范博弈对手蓄意制造的风险，为我们积极应对和防范资本主义经济危机冲击影响提供了解决之道。

On the basis of inheriting the theory and analytical framework of Marxist political economy, fostering a new development paradigm adheres to the innovative application of the Marxist scientific worldview and methodology, the “master key” for studying and solving problems. It reveals the objective laws and inevitable trends of a large economic country transforming into a strong economic country. It is both theoretical and practical. We must deeply understand and accurately grasp the strategic connotation and great significance of fostering a new development paradigm from the dimensions of historical inevitability, long-term development, and the overall situation of modernization. We must insist on placing the development of the country and the nation on the basis of our own strength, continuously enhance our country’s viability, competitiveness, development capacity, and sustainability, firmly grasp the initiative in development, and ensure the smooth realization of the goal of building China into a great modern socialist country in all respects.

构建新发展格局在继承马克思主义政治经济学理论和分析框架的基础上，坚持创新运用马克思主义科学的世界观和方法论这把研究问题、解决问题的“总钥匙”，揭示了经济大国向经济强国发展的客观规律和必然趋势，既是理论的，也是实践的。我们必须从历史必然性、发展长期性、现代化建设的全局性等维度深刻认识、准确把握构建新发展格局的战略内涵和重大意义，坚持把国家和民族发展放在自己力量的基点上，不断增强我国的生存力竞争力发展力持续力，牢牢掌握发展主动权，确保顺利实现全面建成社会主义现代化强国目标。

Online editor: Tongxin

网络编辑：同心