Deepening the Understanding of the "Five Balances"

The Central Economic Work Conference held at the end of 2024 proposed that "it is necessary to balance the relationship between an effective market and a competent government, forming an economic order that is both 'vibrant' and 'orderly'"; "it is necessary to balance the relationship between aggregate supply and aggregate demand, smoothing the national economic cycle"; "it is necessary to balance the relationship between cultivating new drivers and upgrading old ones, developing new quality productive forces according to local conditions"; "it is necessary to balance the relationship between optimizing increments and revitalizing stock, comprehensively improving resource allocation efficiency"; and "it is necessary to balance the relationship between improving quality and expanding aggregate, consolidating the material foundation of Chinese-path modernization." These "five balances" are the Party's understanding of the laws governing China's economic work, distilled from practical experience. They are a concrete manifestation of using the methodology of dialectical materialism and historical materialism to analyze and resolve prominent contradictions in the current economic field. They are not only principles that must be adhered to in doing economic work well but also a scientific methodology for achieving high-quality development and advancing Chinese-path modernization, further enriching and developing Xi Jinping's economic thought.

2024年底召开的中央经济工作会议提出，“必须统筹好有效市场和有为政府的关系，形成既‘放得活’又‘管得住’的经济秩序”“必须统筹好总供给和总需求的关系，畅通国民经济循环”“必须统筹好培育新动能和更新旧动能的关系，因地制宜发展新质生产力”“必须统筹好做优增量和盘活存量的关系，全面提高资源配置效率”“必须统筹好提升质量和做大总量的关系，夯实中国式现代化的物质基础”。这“五个统筹”是我们党从我国经济工作实践中总结出来的规律性认识，是用辩证唯物主义和历史唯物主义方法论分析和解决当前经济领域突出矛盾的具体体现，既是做好经济工作必须坚持的原则，也是实现高质量发展、推进中国式现代化的科学方法论，进一步丰富和发展了习近平经济思想。

The purpose of balancing is to take all factors into consideration, that is, to be adept at viewing problems from an overall perspective, balancing the relationships among various aspects in economic and social development, strengthening the coordination of various policies, and forming a joint force to promote high-quality development. Today's world is facing changes unseen in a century. China's economic development faces both opportunities from the rapid development of technological revolution and industrial transformation, and challenges such as extreme pressure from Western countries led by the United States, weak world economic recovery, and insufficient domestic demand. To do economic work well under extremely complex conditions, one must learn to "play the piano," taking all aspects into account. It is necessary to be adept at discovering emerging problems and addressing them early and when they are small; otherwise, "a pinhole can let in a wind as big as a bushel," and a small incident may evolve into a major risk. It is also necessary to be adept at grasping the principal contradiction to drive the resolution of secondary contradictions.

统筹的目的是兼顾，就是要善于从全局看问题，平衡好经济社会发展中各方面的关系，加强各类政策协调配合，形成推动高质量发展的合力。当今世界面临百年未有之大变局，我国经济发展既面临着科技革命和产业变革迅猛发展的机遇，也面临着以美国为首的西方国家的极限施压、世界经济复苏乏力、国内需求不足等挑战。在极为复杂的条件下做好经济工作，必须学会“弹钢琴”，兼顾方方面面。既要善于发现苗头性的问题，抓早抓小，否则，“针尖大的窟窿能漏过斗大的风”，小事件可能演变为大风险；又要善于抓主要矛盾带动次要矛盾的解决。

It is necessary to balance the relationship between an effective market and a competent government, forming an economic order that is both "vibrant" and "orderly"

必须统筹好有效市场和有为政府的关系，形成既“放得活”又“管得住”的经济秩序

Handling the relationship between the government and the market is the core issue of China's economic system reform. An effective market means achieving efficient allocation of resources through price and competition mechanisms, ensuring effective incentives for property rights, free flow of factors, flexible price responses, fair and orderly competition, and survival of the fittest among enterprises. A competent government means that the government can promptly remedy market failures, cultivate, supervise, and protect the market, and promote sustained and healthy development of the national economy and society. To balance the relationship between an effective market and a competent government, first, it is necessary to scientifically define the boundaries and respective functions of the market and the government. The function of the market is to achieve efficient resource allocation through market mechanisms. The government's responsibilities are to maintain macroeconomic stability, strengthen and optimize public services, ensure fair competition, strengthen market supervision, maintain market order, promote sustainable development, promote common prosperity, and remedy market failures. Second, it is necessary to let the market play a decisive role in resource allocation and better play the role of the government. General Secretary Xi Jinping pointed out, "On the issue of the role of the market and the government, we must emphasize dialectics and the 'two-point theory.' Both the 'invisible hand' and the 'visible hand' must be used well, striving to form a pattern where the roles of the market and the government are organically unified, mutually complementary, mutually coordinated, and mutually reinforcing." [1]1 Xi Jinping, "On the Relationship between the Market and the Government," excerpt from a speech at the 15th collective study session of the Political Bureau of the 18th CPC Central Committee, May 26, 2014. Third, it is necessary to grasp the appropriate degree in practice. The government must do what it should and refrain from what it should not; it must do what it should do to the fullest extent and resolutely refrain from what it should not do. Practice has proven that laissez-faire competitive capitalism, lacking macroeconomic regulation, leads to polarization, severe economic crises, and social unrest; a highly centralized planned economic system, lacking market adjustment mechanisms, leads to low resource allocation efficiency and a lack of economic vitality. These two economic models have been proven by practice to be undesirable. The relationship between the market and the government is not one of opposing substitution, but one of mutual complementarity, coordination, and reinforcement; it is not a segmented relationship, but an integrated one; each country needs to creatively achieve positive interaction between the government and the market based on its actual conditions. The reason for the problem of "chaos upon liberalization and stagnation upon control" is that the government has liberalized what it should not have and controlled what it should not have, resulting in government function misplacement and absence. To form an economic order that is both "vibrant" and "orderly," the government's functions need to be in place without overstepping or being absent. "Vibrant" means letting the market play a decisive role in resource allocation, releasing higher market efficiency, stronger social vitality, and better market benefits; "orderly" means better playing the role of the government, better remedying market deficiencies, and achieving order, fairness, and efficiency.

处理好政府和市场的关系是我国经济体制改革的核心问题。有效市场就是通过价格和竞争机制实现资源的高效配置，做到产权有效激励、要素自由流动、价格反应灵活、竞争公平有序、企业优胜劣汰。有为政府就是政府能够及时弥补市场失灵，培育、监督、保护市场，促进国民经济和社会持续健康发展。统筹好有效市场和有为政府的关系，首先，要科学界定市场和政府的边界及各自的功能。市场的功能是通过市场机制实现资源有效配置。政府的职责是保持宏观经济稳定，加强和优化公共服务，保障公平竞争，加强市场监管，维护市场秩序，推动可持续发展，促进共同富裕，弥补市场失灵。其次，要让市场在资源配置中起决定性作用和更好发挥政府作用。习近平总书记指出，“在市场作用和政府作用的问题上，要讲辩证法、两点论，‘看不见的手’和‘看得见的手’都要用好，努力形成市场作用和政府作用有机统一、相互补充、相互协调、相互促进的格局”。再次，要在实践中把握好度。政府要有所为有所不为，该为的要为到位，不该为的坚决不为。实践证明，缺乏宏观调控的自由竞争资本主义，导致两极分化、严重经济危机、社会动荡；缺乏市场调节机制的高度集中的计划经济体制，导致资源配置效率低下、经济缺乏活力。这两种经济模式被实践证明都是不可取的。市场和政府之间不是对立的替代关系，而是相互补充、相互协调和相互促进的关系；不是板块式的关系，而是水乳交融的关系；各个国家都需要从实际出发，创造性地实现政府和市场的良性互动。之所以出现“一放就乱、一管就死”的问题，原因在于政府放了不该放的、管了不该管的，政府职能错位和缺位。形成既“放得活”又“管得住”的经济秩序，需要政府职能到位而不越位、不缺位。“放得活”就是要让市场在资源配置中发挥决定性作用，放出更高的市场效率、更强的社会活力、更好的市场效益；“管得住”就是要更好发挥政府作用，更好弥补市场缺陷，实现有序、公平、高效。

It is necessary to balance the relationship between aggregate supply and aggregate demand, smoothing the national economic cycle

必须统筹好总供给和总需求的关系，畅通国民经济循环

Aggregate supply refers to the total quantity of products and services actually provided to the market for final use by social production activities in a country or region within a certain period. Aggregate demand refers to the total purchasing power for products or services actually formed by expenditures available for investment or consumption in a country or region within a certain period. Balancing the relationship between aggregate supply and aggregate demand means continuously achieving a high-level dynamic balance in the operation of the national economy. If aggregate supply is significantly greater than or less than aggregate demand for a long time, it will cause serious waste of resources or idling of resources, making it difficult to achieve potential economic growth. To achieve a balance between aggregate supply and aggregate demand, on the one hand, it is necessary to deepen supply-side structural reform. Because the demand structure of Chinese residents has changed significantly, but the supply structure has not changed accordingly, leading to insufficient effective domestic demand. This requires promoting the effective resolution of overcapacity and eliminating backward production capacity; focusing on improving the quality of products and services, seeking benefits from quality and brands; promoting scientific and technological innovation, vigorously developing new quality productive forces, and developing strategic emerging industries and modern service industries; increasing the effective supply of public products and services, and improving the adaptability and flexibility of the supply structure to changes in demand. On the other hand, it is necessary to exert effort from the demand side. Because there is also a problem of insufficient effective investment and effective consumption demand in the current operation of China's economy.

总供给是指一个国家或地区在一定时期内由社会生产活动实际提供给市场可供最终使用的产品和服务总量。总需求是指一个国家或地区在一定时期内由社会可用于投资或消费的支出所实际形成的对产品或服务的购买力总量。统筹好总供给和总需求的关系，就是要在国民经济运行中不断实现高水平动态平衡。如果总供给长期严重大于或小于总需求，就会造成资源的严重浪费或资源闲置，难以实现潜在经济增长。实现总供给与总需求的平衡，一方面，要深化供给侧结构性改革。因为我国居民的需求结构已经发生明显变化，但供给结构没有随之改变，导致国内有效需求不足。这就要求促进产能过剩的有效化解，淘汰落后产能；着力提高产品和服务质量，向质量和品牌要效益；促进科技创新，大力发展新质生产力，发展战略性新兴产业和现代服务业；增加公共产品和服务的有效供给，提高供给结构对需求变化的适应性和灵活性。另一方面，要从需求侧发力。因为当前我国经济运行中同样存在有效投资和有效消费需求不足的问题。

To expand effective investment demand, it is necessary to grasp the key points. First, promote the stable and healthy development of the real estate market. China's new-type urbanization still has considerable room for development, and the newly added urban population remains at a large scale. Although the per capita living area of urban and rural residents continues to increase, the structure is unbalanced, and there is both rigid demand and demand for improved housing for real estate. It is necessary to continuously improve market expectations, optimize stock, improve quality, adjust housing purchase restriction policies, and support demand for improved housing. Second, promote urban renewal. China's urbanization is shifting from a focus on quantitative expansion in terms of population increase and urban area expansion to a focus on improving quality of life and people-centered qualitative improvement. Urban renewal will release huge demand for infrastructure investment. Third, continuously improve rural infrastructure and support the construction of high-standard farmland.

扩大有效投资需求，需抓住重点。一是促进房地产市场平稳健康发展。我国新型城镇化还有较大发展空间，新增城镇人口仍然保持较大规模。虽然城乡居民人均居住面积持续增加，但结构不平衡，对房地产既存在刚需，也存在改善性需求。要持续改善市场预期，优化存量、提高质量，调整住房限购政策，支持改善性住房需求。二是推动城市更新。我国城镇化正在从过去以人口数量增加、城镇面积扩大的量的扩张为主转向更加注重生活品质和以人为本的质的提高为主，城市更新会释放巨大的基础设施投资需求。三是持续改善农村基础设施、支持高标准农田建设。

To expand effective consumption demand, it is necessary to build a long-term mechanism. The key points are: achieving synchronization of residents' income growth with economic growth, synchronization of labor remuneration increases with labor productivity increases, expanding the proportion of the middle-income group, and enabling more residents to have the ability to consume; improving the social security system, eliminating the worries of urban and rural residents about consumption, and enabling them to dare to consume; issuing consumption vouchers for low-income earners, which is conducive to both ensuring and improving their living standards and expanding consumption demand; deepening reforms in education, medical care, and other systems to reduce the expenditure expectations of urban and rural residents; doing everything possible to increase employment, especially providing more internship positions and employment services for college students, achieving full employment, and improving the quality of employment; and focusing on improving the consumption environment so that consumers can consume with confidence.

扩大有效消费需求，需构建长效机制。重点在于，实现居民收入增长和经济增长同步，劳动报酬提高与劳动生产率提高同步，扩大中等收入群体比重，让更多居民有能力消费；完善社会保障制度，消除城乡居民消费的后顾之忧，让城乡居民敢于消费；为低收入者发放消费券，既有利于保障和改善其生活水平，又可以扩大消费需求；深化教育、医疗等体制改革，降低城乡居民支出预期；千方百计增加就业，特别是要为大学生提供更多的实习岗位和就业服务，实现充分就业，提高就业质量；着力改善消费环境，让消费者放心消费。

Smoothing the national economic cycle requires the organic connection of various production factors in the links of production, distribution, circulation, and consumption. Its main task is to achieve effective smoothness on the supply side, using strong effective supply capacity to unblock circulation bottlenecks, eliminate constraints, create more employment opportunities and sources of income, and expand effective demand. To achieve smoothness on the supply side, it is necessary to promote the optimization and upgrading of the industrial structure, enhance the resilience of the supply system, form a more efficient and higher-quality input-output relationship, and achieve a higher level of dynamic balance between supply and demand.

畅通国民经济循环，需要各种生产要素组合在生产、分配、流通、消费各个环节有机衔接，其最主要的任务是实现供给侧有效畅通，凭借强大的有效供给能力打通循环堵点、消除瓶颈制约，并创造更多就业机会和收入来源，扩大有效需求。实现供给侧的畅通，需推动产业结构优化升级，增强供给体系韧性，形成更高效率和更高质量的投入产出关系，实现更高水平的供需动态平衡。

It is necessary to balance the relationship between cultivating new drivers and upgrading old ones, developing new quality productive forces according to local conditions

必须统筹好培育新动能和更新旧动能的关系，因地制宜发展新质生产力

The process of economic development is a process of replacing old drivers with new ones. Cultivating new drivers means promoting scientific and technological innovation, transforming traditional industries, developing emerging industries, and nurturing future industries. Renewing old drivers requires, on the one hand, using new technologies to transform traditional industries and promote the upgrading of the industrial structure; on the other hand, it requires eliminating backward industries that are energy-intensive, fail to meet environmental protection and safety requirements, and are inefficient. Only by vigorously implementing scientific and technological innovation and developing emerging industries, especially strategic emerging industries, can we better eliminate backward production capacity, smoothly achieve the "vacating the cage to change the bird," [2]2 "Vacating the cage to change the bird" (腾笼换鸟) is a Chinese economic metaphor for phasing out outdated industries and replacing them with higher-value, more advanced ones. allocate scarce resources to new drivers, and improve resource allocation efficiency. We must target the frontiers of scientific and technological progress, strengthen innovation in key generic technologies, cutting-edge leading technologies, modern engineering technologies, and disruptive technologies, and accelerate the transformation of scientific and technological achievements into practical applications. We should regulate the development of various types of venture capital and promote the germination, growth, and strengthening of future industries. We must improve the scientific and reasonable assessment mechanism for local development of new quality productive forces according to local conditions.

经济发展的过程就是以新动能更新替代旧动能的过程。培育新动能，就是要推动科技创新，改造传统产业，发展新兴产业，培育未来产业。更新旧动能，一方面要以新技术改造传统产业，推动产业结构升级；另一方面要淘汰能耗高、不符合环保和安全要求、低效率的落后产业。只有大力实施科技创新，发展新兴产业特别是战略性新兴产业才能更好地淘汰落后产能，才能顺利地实现“腾笼换鸟”，才能把稀缺的资源配置到新的动能上，提高资源的配置效率。要瞄准科技进步前沿，加强关键共性技术、前沿引领技术、现代工程技术、颠覆性技术创新，加快实现科技成果转化。规范发展各种风险投资，促进未来产业的萌芽、成长和壮大。健全对各地因地制宜发展新质生产力的科学合理的考核机制。

Balancing the relationship between cultivating new drivers and renewing old drivers is an inherent requirement for developing new quality productive forces according to local conditions. Traditional industries are an important foundation for the development of new quality productive forces; traditional industries are not equivalent to backward industries. After technological transformation, they can be upgraded to modern industries. Developing new quality productive forces does not mean abandoning traditional industries, but rather using national technical standards, energy consumption standards, and safety standards to transform and upgrade traditional industries, and using digital technology to empower traditional industries. China has a vast territory, with significant differences in natural conditions, cultural customs, scientific and technological foundations, and industrial supporting facilities. This requires all localities to proceed from their actual conditions, establish the new before abolishing the old, [3]3 "Establish the new before abolishing the old" (先立后破) is a policy principle emphasizing orderly transition, often cited in the context of economic restructuring and energy transition. adapt measures to local conditions, provide classified guidance, explore paths for developing new quality productive forces suitable for their local realities, and purposefully supplement, extend, and strengthen industrial chains. Developed regions should leverage their strong scientific research capabilities, focusing on developing emerging industries and future industries, while less developed regions should prioritize the application of advanced technologies. The eastern region, with its advantages in data research and development, should focus on developing data centers; the western region, with its advantages in energy, land, and suitable climatic conditions, should focus on deploying computing power centers, forming a mechanism of rational division of labor, scientific layout, and efficient collaboration to optimize the regional allocation of resources.

统筹好培育新动能和更新旧动能的关系是因地制宜发展新质生产力的内在要求。传统产业是新质生产力发展的重要基础，传统产业不等于落后产业，经过技术改造之后可以升级为现代产业，发展新质生产力不是要放弃传统产业，而是要用国家技术标准、能耗标准、安全标准改造提升传统产业，用数字技术赋能传统产业。我国国土面积广大，自然条件、文化习俗、科技基础、产业配套等有很大差异，这就要求各地从实际出发，先立后破、因地制宜、分类指导，探索适合本地实际的发展新质生产力的路径，有针对性地补链、延链、强链。发达地区要发挥好科技研发力量雄厚的优势，侧重发展新兴产业和未来产业，欠发达地区要重视先进技术应用。东部地区具有数据研发优势，重点发展数据中心，西部地区具有能源、土地优势和适宜的气候条件，重点布局算力中心，形成合理分工、科学布局、高效协作的机制，优化资源的区域配置。

It is necessary to balance the relationship between optimizing increments and revitalizing stock, comprehensively improving the efficiency of resource allocation.

必须统筹好做优增量和盘活存量的关系，全面提高资源配置效率

Stock refers to the quantity of accumulated products, goods, reserves, and asset-liability balances at a specific point in time; increment refers to the increase in various types of assets formed during a specific period. Optimizing increments and revitalizing stock are important components of improving the macroeconomic governance system and are important driving forces for achieving high-quality economic development. The focus of optimizing increments is on "optimization," which means optimizing the efficiency of resource allocation to achieve greater benefits and optimizing the structure of increments. The focus of revitalizing stock is on "vitalization," making idle assets active, bringing them into the national economic circulation system, and ensuring scarce resources are fully utilized. Optimizing increments and revitalizing stock are not contradictory but mutually reinforcing. Revitalizing stock can generate increments, and optimizing increments helps revitalize stock. If stock is not revitalized, it directly constrains national economic growth, and increments will inevitably be affected. Increments must not only increase quantity but also be optimized; otherwise, new idle assets will be created, increasing the burden of revitalizing stock.

存量是指在某一指定的时间点，过去积累的产品、货物、储备、资产负债结存的数量，增量是指在特定的时段形成的各类资产增加量。做优增量和盘活存量是健全宏观经济治理体系的重要内容，是实现经济高质量发展的重要动力。做优增量的重点在“优”，要优化资源配置效率实现更大的效益，优化增量结构。盘活存量的重点在“活”，让闲置资产活起来，进入国民经济循环体系，让稀缺资源得到充分利用。做优增量和盘活存量不是矛盾的而是相互促进的。盘活存量可以带来增量，做优增量有助于盘活存量。存量不盘活，直接制约国民经济增长，增量必然受到影响。增量不仅要增加量，更要做优，否则就会形成新的闲置资产，增加盘活存量的负担。

To optimize increments, it is necessary to support key national projects under construction or continuation, drive industrial innovation through scientific and technological innovation, develop new industries, new models, and new drivers, lead new directions, open up new tracks, and focus on developing new quality productive forces. To revitalize stock, it is necessary to fully utilize and flexibly apply supportive policies, promote the revitalization of idle and inefficient land in industrial parks, deepen capital market reforms, unblock the blockages and sticking points hindering the entry of medium- and long-term funds into the market, and make good use of local government special bonds.

做优增量，就需要支持国家重点在建续建项目，以科技创新带动产业创新，发展新产业、新模式、新动能，引领新方向，开辟新赛道，着力发展新质生产力。盘活存量，就需要用足用活支持政策，促进产业园区盘活存量闲置低效土地，深化资本市场改革，打通中长期资金入市的堵点卡点，用好地方政府专项债券。

Balancing the relationship between optimizing increments and revitalizing stock requires the comprehensive use of fiscal, monetary, industrial, pricing, and employment policies to optimize the allocation of various incremental resources and the adjustment of stock structures, unleash the vitality of various production factors, especially innovation factors, promote the optimal utilization of idle resources, accelerate the concentration of various advanced production factors towards the development of new quality productive forces, achieve maximum resource utilization and maximum economic benefits, and promote high-quality economic development.

统筹好做优增量和盘活存量的关系，需要综合运用财政、货币、产业、价格、就业等政策，优化各类增量资源配置和存量结构调整，释放各种生产要素特别是创新要素的活力，促进闲置资源优化利用，加快促进各类先进生产要素向发展新质生产力集聚，实现资源的最大化利用和经济效益最大化，促进经济高质量发展。

It is necessary to balance the relationship between improving quality and expanding aggregate quantity, consolidating the material foundation for Chinese-path modernization.

必须统筹好提升质量和做大总量的关系，夯实中国式现代化的物质基础

The indicators for measuring the quality of economic development are multi-dimensional, including the continuity of economic growth, manifested as a continuous growth process; balance, i.e., the coordination and optimization of the economic structure; sustainability, i.e., paying more attention to resource conservation and environmental protection during the economic growth process; fairness, i.e., focusing on fairness in distribution so that the fruits of development benefit the broadest masses of the people to the greatest extent; and security, i.e., the security and stability of industrial and supply chains. Improving quality means achieving new improvements in each of the above dimensions. Only by continuously improving quality can we achieve the sustainable development of the national economy, provide the broad masses of the people with higher quality products and services, and better meet the people's ever-growing needs for a better life. The aggregate quantity of economic development refers to the total market value of all final goods and services provided by a country or region within a certain period. Expanding aggregate quantity is a necessary prerequisite for achieving Chinese-path modernization. Only by balancing the relationship between improving quality and expanding aggregate quantity can we consolidate the material foundation for Chinese-path modernization, make the "cake" bigger, [4]4 "Making the cake bigger" (做大蛋糕) is a common Chinese political metaphor for expanding the total wealth or output of the economy, often paired with "distributing the cake well" (分好蛋糕) regarding equitable distribution. improve people's well-being, and gain strategic advantages and strategic initiative in fierce international competition.

衡量经济发展质量的指标是多维的，包括经济增长连续性，即表现为一个连续不断的增长过程；平衡性，即经济结构的协调与优化；可持续性，即在经济增长过程中更加注重节约资源和保护环境；公平性，即在分配上注重公平，让发展成果最大限度地惠及广大人民群众；安全性，即产业链供应链的安全与稳定。提升质量就是要在上述各维度实现新的提高。只有不断提升质量，才能实现国民经济的可持续发展，为广大人民群众提供更高质量的产品和服务，更好满足人民群众日益增长的美好生活需要。经济发展总量是指一个国家或地区在一定时期内提供的所有最终商品和服务的市场价值总和。做大总量是实现中国式现代化的必要前提。只有统筹好提升质量和做大总量的关系，才能夯实中国式现代化的物质基础，才能做大“蛋糕”、增进民生福祉，才能在激烈的国际竞争中赢得战略优势和战略主动。

Achieving high-quality economic development means improving quality while expanding aggregate quantity, and expanding aggregate quantity while further improving quality. The past extensive development model and traditional path of productivity development, which only focused on increasing quantity while neglecting quality improvement, are unsustainable. It is necessary to accelerate the transformation of the economic development model, accelerate scientific and technological progress, promote the optimization of the economic structure, and reduce resource and energy consumption. China is in a critical stage of high-quality development. We must guide reasonable quantitative growth through effective qualitative improvement, and support effective qualitative improvement through reasonable quantitative growth.

实现经济高质量发展，就是要在做大总量中提升质量，在进一步提升质量中做大总量。过去只注重量的增加忽视质的提升的粗放式发展方式和传统的生产力发展路径是不可持续的，必须加快转变经济发展方式，加快推进科技进步，促进经济结构优化，降低资源和能源消耗。我国正处在高质量发展的关键阶段，要通过质的有效提升引领量的合理增长，通过量的合理增长支撑质的有效提升。

Balancing the relationship between improving quality and expanding aggregate quantity requires fully building a unified, open, competitive, and orderly market system, breaking down regional blockades, departmental segmentation, and market monopolies, leveraging the advantages of the super-large market, and achieving survival of the fittest; improving the institutional mechanisms for promoting high-quality economic development, developing new quality productive forces according to local conditions, promoting the deep integration of the real economy and the digital economy, accelerating the improvement of modern infrastructure, and building institutional mechanisms that support comprehensive innovation; improving the institutional mechanisms for high-standard opening up, deeply integrating into the tide of economic globalization, and improving quality and expanding aggregate quantity in all-round opening up.

统筹好提升质量和做大总量的关系，就需要充分构建统一开放、竞争有序的市场体系，打破地区封锁、部门分割、市场垄断，发挥超大规模市场优势，实现优胜劣汰；健全推动经济高质量发展体制机制，因地制宜发展新质生产力，促进实体经济与数字经济深度融合，加快完善现代化基础设施，构建支持全面创新体制机制；完善高水平对外开放体制机制，深度融入经济全球化的大潮，在全方位开放中提升质量做大总量。

[The author is a researcher at the Research Center for Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era and Director of the Department of Economics at the Central Party School (National Academy of Governance).]

【作者系中央党校（国家行政学院）习近平新时代中国特色社会主义思想研究中心研究员、经济学教研部主任】

Online editor: Huihui

网络编辑：慧慧