To build a high-level socialist market economy system, it is necessary to systematically promote three dimensions, including the ownership base, the decisive role of the market in resource allocation and the guiding (or leading) role of the government in the allocation of important resources, as required by the report of the 20th National Congress of the Communist Party of China. On the basis of ownership, we should unswervingly consolidate and develop the public ownership economy, especially giving full play to the dominant role of the state-owned economy in the national economy, and at the same time unswervingly encouraging, supporting and guiding the development of the Non-public ownership economy. On the decisive role of the market in the allocation of resources, we must follow the general laws of the market economy, adhere to the superiority of the socialist system, and give full play to the decisive role of the market in the allocation of resources and better play the role of the government on the basis of effective prevention of the shortcomings of the capitalist market economy. On the government’s guiding (or leading) role in the allocation of important resources, we should improve the macroeconomic governance system, improve the planning and regulation of social production and national economy by the state, systematically prevent and resolve financial risks, and anti-monopoly and anti-unfair competition according to the law, break local protection and administrative monopoly, and regulate and guide the healthy development of capital according to the law.

Editor: Zhong Yao、Zheng Yifan

From:Chinese Journal of Political Economics.2023.No.1.