The Theoretical Attributes and Original Contributions of Xi Jinping’s Exposition on the Private Economy

Abstract

Xi Jinping’s exposition on the private economy constitutes a signifi cant theoretical advancement in the Communist Party of China’s contemporary understanding of the governing principles of the socialist market economy. This major exposition is rooted in the scientific worldview of historical materialism and demonstrates a distinct theoretical character that integrates the unity of Party leadership and the people-centered principle, the alignment of technological innovation and institutional reform, and the combination of independent perspectives with a global outlook.Its original contributions are manifested in a new strategic orientation grounded in new-quality productive forces, new theoretical judgments regarding the essential components of China’s economic system, and the formulation of a new theoretical framework centered on “cordial and clean relationship between government and business.” Xi Jinping’s important exposition on the private economy not only provides fundamental guidance for promoting the high-quality development of the private economy in the new era but also injects new intellectual momentum into the development of contemporary Chinese Marxist political economy.