Promoting Complementary Advantages and Common Development of All Forms of Ownership

The Third Plenary Session of the 20th Central Committee of the CPC proposed “promoting complementary advantages and common development of all forms of ownership.” [1]1 The Third Plenary Session of the 20th Central Committee of the CPC was held in July 2024 and focused on further deepening reform comprehensively. This is a major strategic deployment for upholding and improving China’s basic socialist economic system, implementing the institutional mechanisms of the “Two Unswervinglys,” [2]2 The “Two Unswervinglys” refers to the policy of unswervingly consolidating and developing the public sector of the economy and unswervingly encouraging, supporting, and guiding the development of the non-public sector of the economy. and promoting the development and growth of all forms of ownership. In further deepening reform comprehensively, it is necessary to deeply understand the significance and advantages of promoting complementary advantages and common development of all forms of ownership, actively explore effective pathways, and make greater contributions to comprehensively advancing the building of a strong country and the great rejuvenation of the Chinese nation through Chinese-path modernization.

党的二十届三中全会提出，“促进各种所有制经济优势互补、共同发展”。这是坚持和完善我国社会主义基本经济制度、落实“两个毫不动摇”体制机制、促进各种所有制经济发展壮大的重大战略部署。在进一步全面深化改革中，必须深刻认识促进各种所有制经济优势互补、共同发展的重要意义和优势，积极探索有效路径，为以中国式现代化全面推进强国建设、民族复兴伟业作出更大贡献。

I. The Significance of Promoting Complementary Advantages and Common Development of All Forms of Ownership

一、促进各种所有制经济优势互补、共同发展的重要意义

Both the public sector of the economy and the non-public sector of the economy are important components of the socialist market economy and important foundations for China’s economic and social development. Promoting complementary advantages and common development of all forms of ownership is necessary for building a high-level socialist market economy system, constructing a modernized economic system, and developing new quality productive forces.

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。促进各种所有制经济优势互补、共同发展是构建高水平社会主义市场经济体制、建设现代化经济体系、发展新质生产力的需要。

The need to build a high-level socialist market economy system. Since the 18th National Congress of the CPC, China’s economic system reform has achieved breakthrough progress, and the socialist market economy system has been gradually improved. As the solid foundation of the high-level socialist market economy system, the common development of multiple forms of ownership has strongly supported China’s high-quality economic development. The scale of the state-owned economy has continued to expand, and the non-public sector of the economy has developed rapidly. The major strategic deployment of complementary advantages and common development of all forms of ownership profoundly embodies the essential requirements of a high-level socialist market economy system, giving play to both the strengths of the market economy and the superiority of the socialist system. It will continuously promote the ongoing improvement of a high-standard market system, further perfect the legal environment for the market economy, further optimize the market environment for fair competition, further enhance the vitality and momentum of economic development, and drive the continuous improvement and development of China’s socialist market economy system.

构建高水平社会主义市场经济体制的需要。党的十八大以来，我国经济体制改革取得突破性进展，社会主义市场经济体制逐步完善。作为高水平社会主义市场经济体制的坚实根基，多种所有制经济共同发展，有力地支撑了我国经济高质量发展。国有经济规模持续扩大，非公有制经济快速发展。各种所有制经济优势互补、共同发展的重大战略部署，深刻体现了高水平社会主义市场经济体制的本质要求，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，将持续推进高标准市场体系不断完善、市场经济法治环境进一步健全、公平竞争的市场环境进一步优化、经济发展的活力和动能进一步增强，推动我国社会主义市场经济体制不断完善和发展。

The need to build a modernized economic system. For a country to be strong, its economic system must be strong. Building a modernized economic system is a major strategic decision made by the Party Central Committee from the overall perspective of the cause of the Party and the state, aiming to achieve the “Two Centenary Goals” [3]3 The “Two Centenary Goals” are the goals of building a moderately prosperous society in all respects by the centenary of the CPC (2021) and building a great modern socialist country that is prosperous, strong, democratic, culturally advanced, harmonious, and beautiful by the centenary of the People’s Republic of China (2049). and conforming to the new requirements of socialism with Chinese characteristics entering a New Era. General Secretary Xi Jinping emphasized, “A modernized economic system is an organic whole composed of the interrelations and internal connections of all links, levels, and fields of social and economic activities.” A modernized economic system is inseparable from the strong support of a well-established property rights system and a modern enterprise system. Multiple forms of ownership jointly lay the foundation for China’s modernized economic system. This requires better adherence to the “Two Unswervinglys,” properly handling the relationship between the public sector and the non-public sector of the economy, and encouraging all economic components to actively participate in the construction of the modernized economic system. State-owned enterprises have advantages such as strong financial strength and robust technical capabilities, while private enterprises have characteristics such as flexible mechanisms and high market sensitivity. State-owned enterprises and private enterprises complement each other’s advantages, gradually building a new model of clear division of labor, effective interaction, deep cooperation, and efficient synergy in the construction of the modernized economic system. Through collaborative innovation and resource sharing in industry-university-research-application, state-owned enterprises and private enterprises will in the future spawn more new technologies, new industries, new models, and new business forms, driving different forms of ownership to jointly build a powerful industrial innovation ecosystem and continuously strengthen China’s economic power and comprehensive national strength.

建设现代化经济体系的需要。国家强，经济体系必须强。建设现代化经济体系，是党中央从党和国家事业全局出发，着眼于实现“两个一百年”奋斗目标、顺应中国特色社会主义进入新时代的新要求作出的重大决策部署。习近平总书记强调，“现代化经济体系，是由社会经济活动各个环节、各个层面、各个领域的相互关系和内在联系构成的一个有机整体”。现代化经济体系离不开完善的产权制度和现代企业制度的有力支撑，多种所有制经济共同筑基我国现代化经济体系，这就要求必须更好坚持“两个毫不动摇”，处理好公有制经济与非公有制经济的关系，鼓励各种经济成分积极投身于现代化经济体系建设。国有企业具有资金实力雄厚、技术力量强等优势，民营企业具有机制灵活、市场敏锐度高等特点，国有企业和民营企业优势互补，在现代化经济体系建设中逐步构建起明确分工、有效互动、深度合作和高效协同的新模式。国有企业和民营企业在产学研用中协同创新、资源共享，未来将催生更多新技术、新产业、新模式和新业态，推动不同所有制经济共同打造强大的产业创新生态链，不断壮大我国经济实力和综合国力。

The need to develop new quality productive forces. As an important pillar and relying force for the Party in governing and rejuvenating the country, state-owned enterprises have political and organizational advantages in areas such as innovation sourcing, talent aggregation, industrial application, and building national strategic scientific and technological strength. They are the backbone force for cultivating and developing new quality productive forces and promoting high-quality development. General Secretary Xi Jinping emphasized that scientific and technological innovation is the core element for developing new quality productive forces, and that scientific and technological innovation should lead the development of new quality productive forces. Enterprises are the main body of scientific and technological innovation. State-owned enterprises, especially central enterprises, are an important component of national strategic scientific and technological strength. Private enterprises are an important force for scientific and technological innovation and also an important force for technology promotion, application, and industrial upgrading. China’s private enterprises account for over 90% of the national high-tech enterprises, strongly supporting the continuous improvement of the innovation level of the private economy. The complementary advantages and common development of multiple forms of ownership will inevitably cause all sources of strength conducive to the development of new quality productive forces to fully surge, creating new miracles in China’s economic development.

发展新质生产力的需要。国有企业作为党执政兴国的重要支柱和依靠力量，在创新策源、人才聚集、产业应用和打造国家战略科技力量等方面具有政治优势和组织优势，是培育和发展新质生产力，推动高质量发展的中坚力量。习近平总书记强调，科技创新是发展新质生产力的核心要素，要以科技创新引领新质生产力发展。企业是科技创新的主体，国有企业特别是中央企业是国家战略科技力量的重要组成部分，民营企业是科技创新的重要力量，也是技术推广应用和产业升级的重要力量。我国民营企业在国家高新技术企业中的占比达到九成以上，有力支撑民营经济创新水平持续提升。多种所有制经济优势互补、共同发展，必将促使一切有利于新质生产力发展的力量源泉充分涌流，创造我国经济发展新奇迹。

II. The Advantages of Promoting Complementary Advantages and Common Development of All Forms of Ownership

二、促进各种所有制经济优势互补、共同发展的优势

Both the public sector of the economy and the non-public sector of the economy are important subjects of the national economy, each with its own advantages and characteristics, jointly contributing to China’s economic and social development. Promoting complementary advantages and common development of all forms of ownership is conducive to driving all forms of ownership to continuously achieve new breakthroughs and new results in their development.

公有制经济和非公有制经济都是国民经济的重要主体，各有优势、各具特色，共同为我国经济社会发展作出贡献。促进各种所有制经济优势互补、共同发展，有利于推动各种所有制经济发展不断取得新突破新成效。

It is conducive to consolidating the dominant position of the public sector of the economy and giving play to the leading role of the state-owned economy. China is a socialist country. Public ownership is the essential feature of socialism. Under the conditions of common development of multiple forms of ownership in the primary stage of socialism, it is necessary to adhere to the dominant position of the public sector of the economy. This is the fundamental guarantee for maintaining our socialist nature. General Secretary Xi Jinping pointed out, “China’s basic economic system is an important pillar of the system of socialism with Chinese characteristics and also the foundation of the socialist market economy system. The dominant position of public ownership cannot be shaken, and the leading role of the state-owned economy cannot be shaken. This is an institutional guarantee for ensuring that the people of all ethnic groups in China share the fruits of development, and it is also an important guarantee for consolidating the Party’s ruling position and upholding China’s socialist system.” As the main form of the public sector of the economy, the state-owned economy controls the lifeline of the national economy and plays a leading role in economic development. Promoting complementary advantages and common development of all forms of ownership is conducive to further consolidating the dominant position of the public sector of the economy and better giving play to the strategic supporting role of the state-owned economy in Chinese-path modernization.

有利于巩固公有制经济主体地位，发挥国有经济主导作用。我国是社会主义国家，公有制是社会主义的本质特征，在社会主义初级阶段多种所有制经济共同发展的条件下，必须坚持公有制经济占主体地位，这是我们保持社会主义性质的根本保证。习近平总书记指出，“我国基本经济制度是中国特色社会主义制度的重要支柱，也是社会主义市场经济体制的根基，公有制主体地位不能动摇，国有经济主导作用不能动摇。这是保证我国各族人民共享发展成果的制度性保证，也是巩固党的执政地位、坚持我国社会主义制度的重要保证”。国有经济作为公有制经济的主要形式，控制着国民经济命脉，对经济发展起主导作用。促进各种所有制经济优势互补、共同发展，有利于进一步巩固公有制经济主体地位，更好发挥国有经济在中国式现代化建设中的战略支撑作用。

It is conducive to stimulating the vitality and creativity of the non-public sector of the economy, promoting its development and growth, and better giving play to the role of the non-public sector of the economy in stabilizing growth, promoting innovation, increasing employment, and improving people’s livelihoods. General Secretary Xi Jinping pointed out, “On the new journey of the New Era, the development prospects of the private economy are broad and full of promise. The vast number of private enterprises and private entrepreneurs have ample opportunities to display their talents at the right time.” As an important part of the non-public sector of the economy, the private economy is a vital force for advancing Chinese-path modernization, an important foundation for high-quality development, and an important force for promoting China’s comprehensive building of a great modern socialist country and achieving the Second Centenary Goal. Since the establishment of the socialist market economy system, the non-public sector of the economy, as an important component of the socialist market economy, has demonstrated greater achievements in promoting growth, driving innovation, creating employment, and competing internationally.

有利于激发非公有制经济活力和创造力，促进非公有制经济发展壮大，更好发挥非公有制经济稳定增长、促进创新、增加就业、改善民生等作用。习近平总书记指出，“新时代新征程民营经济发展前景广阔、大有可为，广大民营企业和民营企业家大显身手正当其时”。作为非公有制经济的重要组成部分，民营经济是推进中国式现代化的生力军，是高质量发展的重要基础，是推动我国全面建成社会主义现代化强国、实现第二个百年奋斗目标的重要力量。社会主义市场经济体制建立以来，非公有制经济作为社会主义市场经济的重要组成部分，在促进增长、推动创新、创造就业、国际竞争中展现更大作为。

It is conducive to promoting the continuous improvement of the modern enterprise system with Chinese characteristics. After years of in-depth reform, China’s ownership structure has been gradually adjusted, the effective forms of realization of the basic economic system have gradually become clear, and a set of enterprise governance systems has been formed that both follow the common laws of modern enterprise systems and highlight the institutional advantages of the system of socialism with Chinese characteristics. This system ensures that the Party’s major policies are effectively implemented in state-owned enterprises, and that the ownership and distribution rights of the public sector of the economy are always owned, used, and enjoyed by the broad masses of the people. Private enterprises actively respond to the call of the Party and the state, gradually improve their corporate governance structures and management systems, standardize their business conduct, strengthen internal supervision, actively participate in government and social capital cooperation projects, and engage in various undertakings such as rural revitalization, green development, and social charity, making important contributions to the sustained and healthy development of China’s economy and society and to meeting the people’s growing needs for a better life.

有利于促进中国特色现代企业制度不断完善。经过多年的深入改革，我国所有制结构逐步调整，基本经济制度有效实现形式逐渐明晰，形成了一套既遵循现代企业制度共性规律、又彰显中国特色社会主义制度优势的企业治理体系。这一制度保证了党的大政方针在国有企业得到有效贯彻，公有制经济的所有权和分配权始终为广大人民所有、所用、所享。民营企业积极响应党和国家号召，逐步完善企业治理结构和管理制度、规范经营行为、强化内部监督，积极参与政府和社会资本合作项目，投身乡村振兴、绿色发展、社会慈善等各类事业，为我国经济社会持续健康发展和满足人民日益增长的美好生活需要作出了重要贡献。

III. Actively Exploring Effective Pathways for Promoting Complementary Advantages and Common Development of All Forms of Ownership

三、积极探索促进各种所有制经济优势互补、共同发展的有效路径

Since the 18th National Congress of the CPC, the state-owned economy and the private economy have deepened cooperation, learned from each other’s strengths to offset weaknesses, and promoted each other, achieving good results. At the same time, the institutional mechanisms for promoting complementary advantages and common development of all forms of ownership still need to be explored and improved.

党的十八大以来，国有经济与民营经济深化合作、取长补短、相互促进，取得良好成效。与此同时，促进各种所有制经济优势互补、共同发展的体制机制仍有待探索完善。

Guide the whole society to correctly and comprehensively understand the promotion of complementary advantages and common development of all forms of ownership. For many years, on the issue of the relationship between the state-owned economy and the private economy, there have always been erroneous statements such as “the state advances and the private sector retreats,” [4]4 “The state advances and the private sector retreats” (国进民退) is a slogan used by critics to allege that state-owned enterprises are expanding at the expense of the private sector. “the state-owned enterprise monopoly theory,” and “the private economy exit theory,” [5]5 “The private economy exit theory” (民营经济离场论) refers to claims that the private economy should or will be phased out of China’s economic system. which question the basic socialist economic system and deny or weaken the public-ownership economy or the non-public-ownership economy. We must resolutely resist and clearly refute these. It must be deeply understood that the public-ownership economy and the non-public-ownership economy are not mutually exclusive or offsetting, but rather complement and reinforce each other. General Secretary Xi Jinping emphasized, “Consolidating and developing the public-ownership economy well is not opposed to encouraging, supporting, and guiding the development of the non-public-ownership economy; rather, they are organically unified,” and “to achieve good economic and social development, everyone must work together with one heart; many hands make light work.” General Secretary Xi Jinping’s important discussions provide the fundamental guidance for promoting the common development of all forms of ownership. It is necessary to guide the whole society to correctly and comprehensively understand the status and role of the state-owned economy, unswervingly consolidate and develop the public-ownership economy; correctly and comprehensively understand the contributions and role of the private economy, unswervingly encourage, support, and guide the development of the non-public-ownership economy.

引导全社会正确全面认识促进各种所有制经济优势互补、共同发展。多年来，在关于国有经济和民营经济二者关系问题上，总萦绕着“国进民退”、“国有企业垄断论”、“民营经济离场论”等质疑社会主义基本经济制度、否定和弱化公有制经济或非公有制经济的错误言论。对此，我们应当坚决抵制、鲜明批驳。要深刻认识到，公有制经济、非公有制经济二者并不是相互排斥、相互抵消，而是相辅相成、相得益彰。习近平总书记强调，“把公有制经济巩固好、发展好，同鼓励、支持、引导非公有制经济发展不是对立的，而是有机统一的”，“要把经济社会发展搞上去，就要各方面齐心协力来干，众人拾柴火焰高”。习近平总书记的重要论述为促进各种所有制经济共同发展提供了根本遵循。要引导全社会正确全面认识国有经济的地位和作用，毫不动摇巩固和发展公有制经济；正确全面认识民营经济的贡献和作用，毫不动摇鼓励、支持、引导非公有制经济发展。

Optimize the policy and institutional environment for complementary advantages and common development of all forms of ownership. All forms of ownership are the main participants in China’s economic activities, the main providers of employment opportunities, and important drivers of technological progress. The complementary advantages and common development of all forms of ownership cannot be separated from a good policy and institutional environment as a guarantee. Creating a good policy and institutional environment is of great significance for stimulating the vitality of business entities. First, deepen the reform of state-owned enterprises, make breakthroughs in improving the modern enterprise system with Chinese characteristics and perfecting market-oriented operation mechanisms, further stimulate the endogenous vitality of state-owned enterprises, and give full play to the role of state-owned enterprises as the “pillar” in the socialist economy with Chinese characteristics. Second, make precise efforts in improving governance structures and management systems, perfecting financing support policy systems, and fully implementing fair competition policy systems, to further enhance the quality and vitality of private economic development. By optimizing the policy and institutional environment, effectively transform China’s political and institutional advantages into the effectiveness of high-quality development, and promote the complementary advantages and common development of all forms of ownership.

优化各种所有制经济优势互补、共同发展的政策制度环境。各种所有制经济是我国经济活动的主要参与者、就业机会的主要提供者、技术进步的重要推动者，各种所有制经济优势互补、共同发展离不开好的政策和制度环境作保障。营造好的政策和制度环境，对激发经营主体活力具有重要意义。一是深化国有企业改革，在完善中国特色现代企业制度、健全市场化经营机制等方面攻坚发力，进一步激发国有企业内生动力，发挥好国有企业在中国特色社会主义经济中的“顶梁柱”作用。二是在完善治理结构和管理制度、完善融资支持政策制度、全面落实公平竞争政策制度等方面精准发力，进一步提高民营经济发展质量和活力。通过优化政策制度环境，切实把我国政治优势、制度优势转化为高质量发展效能，促进各种所有制经济优势互补、共同发展。

Comprehensively strengthen coordination and cooperation among all forms of ownership. First, deepen the reform of state-owned assets and state-owned enterprises, enhance core functions, improve core competitiveness, accelerate the formation of relations of production more compatible with new quality productive forces, continuously promote state-owned capital and state-owned enterprises to become stronger, better, and larger, ensure their continuous preservation and appreciation, and strengthen their strategic supporting role. Second, further accelerate the development of private enterprises, support capable private enterprises to take the lead in undertaking major national technological research tasks, and further open up major national scientific research infrastructure to private enterprises. Third, strengthen coordination and cooperation among all forms of ownership. Support enterprises of all forms of ownership to establish long-term and stable cooperative relationships around industrial chains, supply chains, value chains, and innovation chains, establish mechanisms such as supply-demand matching, project co-construction, and achievement sharing, and achieve mutual promotion and common development in the process of building a modern industrial system, developing new quality productive forces, and stimulating the vitality of various business entities.

全方位加强各种所有制经济协同合作。一是深化国资国企改革，增强核心功能，提升核心竞争力，加快形成同新质生产力更相适应的生产关系，持续推动国有资本和国有企业做强做优做大，让其不断保值增值，强化战略支撑作用。二是进一步加快民营企业发展，支持有能力的民营企业牵头承担国家重大技术攻关任务，向民营企业进一步开放国家重大科研基础设施。三是加强各种所有制经济协同合作。支持各种所有制企业围绕产业链、供应链、价值链、创新链建立长期稳定合作关系，建立供需对接、项目共建、成果共享等机制，在建设现代化产业体系、发展新质生产力、激发各类经营主体活力的合作过程中实现互促互进，共同发展。

(The authors are, respectively, an assistant researcher at the Institute of Economics, Chinese Academy of Social Sciences, and a professor at the School of Marxism Studies, Renmin University of China)

（作者系中国社会科学院经济研究所助理研究员；中国人民大学马克思主义学院教授）

Online Editor: Ma Jingren

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