By Shi Jianxun

Core Idea

As the beginning year to carry out the spirit of the 19^th National Congress of the Communist Party of China (CPC), the year 2018 also marks the 40^th anniversary of the introduction of the reform and opening up policy, being considered as the key year of winning the all-round development of a well-off society and the key year of implementing the 13^th Five-Year Plan. To make this year a fruitful one, we must comprehensively carry out the spirit of the 19^th National Congress of CPC, following Xi Jinping’s socialist economic thought with Chinese characteristics in the new era, strengthening the CPC party’s leadership in economic work. Efforts are needed to accelerate the development of high quality metrics system, policy system, standard system, statistical system and performance evaluation, in addition to establishing and improving the institutional environment, promoting our economy in achieving high quality development.

The central economic work conference pointed out that promoting high-quality development was the fundamental requirement for determining the development ideas, formulating economic policies and implementing macro-control at present and in a period to come. We should deeply understand and closely follow this fundamental requirement, firmly promote high-quality development, and accelerate the transformation of development ideas and working methodologies.

Promoting High Quality Development is the Inevitable Requirement to Adapt to the Change of the Social Principal Contradiction in China ; 

In the new era, the principal contradiction in our society has transformed into a contradiction between people’s ever growing needs for a better life and the inadequate and unbalanced development. To meet people’s desire for a better life is the goal of the Communist Party of China. As a matter of fact, the most imminent goal of high-quality development is to meet the needs of the people, which means we should focus on the growing demand of the people in economy, politics, culture, society and ecological environment. Continuous progress needs to be made to make sure people enjoy the rights to education, employment, medical and old-age care, and housing to better promote all-round human development and social progress. To promote high-quality development, we should put the people-centered development concept into effect, adhere to the problem-solving orientation, and start from the efforts aiming to solve the most direct and practical problems of the people, thus improving people’s livelihood in an all-round way and improving their sense of gain and happiness.

The main aspect of the social principal contradiction in our country is the unbalanced & inadequate development, which mainly performed as the insufficient supply and the structural imbalance of supply. In order to solve the principal contradiction, we should start with the main aspect, take the supply side structural reform as the main line, focus on improving the supply structure, thus improving the quality of supply, reducing the ineffective supply, expanding the effective supply and improving the adaptability of supply structure to demand structure. In order to achieve high quality development, the reform method should be used to eliminate the institutional barriers which impede the optimal resource allocation and rational flow of production factors, so as to promote the institutional mechanism in which market can play a decisive role in resource allocation. In addition, efforts shall be made to improve the total factor productivity, with the aim to achieve high quality development.

Promoting High Quality Development is the Inevitable Requirement of Building a Socialist Modernized Powerful Country in an All-round Way

In order to realize the Two 100-year Goals, and therefore build a socialist modernization power in an all-round way, we it must be built on the basis of high-quality development. As pointed out on in the central economic work conference, the development of our socialist society with Chinese characteristics has entered into a new era and China’s economic development has also entered into a new era. One of the basic characteristics is that china’s economy has shifted from a high-speed growth stage to a high-quality growth stage. High-quality development means the aim of the development is to provide more high-end products and high-quality services, with high- quality standards to protect consumers’ rights interests, ensuring food safety and reliable living conditions in an all-round way.

High quality development means reduced energy consumption and less pollution per unit GDP, improved environmental quality, higher living quality and better health conditions of urban and rural residents. High-quality development means more balanced and coordinated development, with the development gap among different regions, different fields, different groups and urban- rural areas reduced or eliminated. Only by achieving high quality development, can we form a pattern of economic prosperity, political democracy, cultural prosperity, social equality and healthy ecological environment, thus building a prosperous, democratic, civilized, harmonious and beautiful socialist modernization power in the middle of this century.

Promoting High-quality Development by Following Xi Jinping’s Socialist Economic Theory with Chinese Characteristics in the New Era

Xi Jinping’s socialist economic theory with Chinese characteristics in the new era is the theoretical crystallization of the past five years’ efforts in promoting China’s economic development. As the latest achievement of the practice of socialist political economics with Chinese characteristics, Xi’s theory represents the precious spiritual wealth of the Party and the country, and needs to be consistently carried out and developed. As the beginning year for the CPC party to carry out the spirit of the 19^th national Party’s Congress, the year 2018 also marks the 40th anniversary of the introduction of the reform and opening up policy, being considered as the key year of winning the all-round development of a well-off society and the key year of implementing the 13^th 5-year plan. To fulfil all these goals, we mush comprehensively carry out the spirit of the 19^th National Party’s Congress, following Xi Jinping’s socialist economic thought with Chinese characteristics in the new era, strengthening the CPC party’s leadership in economic work. Efforts are needed to accelerate the development of high quality metrics system, policy system, standard system, statistical system and performance evaluation, in addition to establishing and improving the institutional environment, promoting our economy to make new progress in achieving high quality development.

To promote high-quality development, the people-centered development methodology should be integrated into the “Five-in-One” plan and coordinated with the “Four Comprehensives” strategy. Considering the changing principal social contradictions in our country, we should always regard people’s need for a better life as the starting point and the working goal of the CPC Party and the government at all levels. People’s sense of gains and well-being should be considered as the touchstones to test the quality and effectiveness of our development. We should, in accordance with the requirements of high-quality development, take the actual performance results as the target of cadre assessment, making sure all policies or measures may be of real help. Only in this way, can we enhance people’s sense of gain and satisfaction of their lives.

In order to promote high-quality development, we should follow a progressive and comprehensive way, taking structural reform on the supply side as the main line, coordinately promoting steady growth, reform, structure adjustment, livelihood improvement and risk aversion. Efforts need to be made to continue the reform & opening up policy, and to innovate and improve the macro-control over the economy, with the aim to realize effective reforms favoring efficiency, motivations and productivity. Relying on innovation development, we should speed up the construction of a modern industrial system with high scientific and technological content, low resource consumption and less environmental pollution. Such a system should integrate solid economy, scientific and technological innovation, modern finance and human resources all together. We should strengthen the organic integration of industrial chain and innovation chain, foster the new driving force for growth, develop competitive advantage, and accelerate the formation of a modern economic system and development model mainly guided and supported by innovation. We should speed up the construction of an effective market mechanism, with dynamic micro-activities and well-measured macro-control, thus laying a solid foundation for high-quality development.

Promoting high-quality development is a complicated systematic project. While adhering to the demand-oriented, problem-oriented and effect-oriented principle, we should focus on the key problems and strengthen the overall planning, with the aim to resolving the principal social contradictions. Only in this way, can we accomplish our goals in risk aversion, precisely-targeting poverty reduction and pollution control. By doing so, we may effectively accelerate high-quality development, fostering more favorable environment to resolve our principal social contradictions, thus improving people’s living conditions and promoting the consistent and healthy social and economic development.

By Shi Jianxun (Dean of the Finance and Economics Research Institute of Tongji University, Deputy President of the State Innovation Development Academy, and professor of the School of Economics and Management of Tongji University)