Rethinking on Efficiency and Equity in a Socialist Market Economy with Chinese Characteristics

Abstract

The basis of economic development is efficiency and fairness, and the level of social productivity determines the production relations and market competition, so it is necessary to adhere to the people-oriented in the market economy system. China's economy has been growing rapidly since the reform and opening up, but the world is becoming increasingly prominent in terms of resource allocation methods and inter-regional flows. In order to achieve this goal and make it continue to move forward at a faster pace, we need to constantly improve the pace and direction of the socialist economic system reform system construction, improve the level of efficiency to further promote the enhancement of social productivity and the degree of social progress of the whole country, we need to adhere to the economic development as the center, so as to achieve the overall progress of society.