Party leadership helps market play due role

Xi Jinping Thought on Socialist Economy with Chinese Characteristics for a New Era is a new development philosophy as socialism with Chinese characteristics steps into a new era. It is a strong guidance to ensure China's healthy economic development, and highlights the role of the Communist Party of China's strong leadership and the market's decisive role in resource distribution in the country's high-quality development in the new era.

China's economy is shifting from high-speed growth to high-quality development, or the new normal. Promoting high-quality development is necessary for sustainable and healthy economic growth, as well as to achieve the goal of building a moderately prosperous society in an all-round way.

The Party's centralized and unified leadership is essential for promoting a new development concept, people-oriented development thought and the new normal of development, ensuring the market plays a decisive role in resource distribution, dealing with the change in the major contradiction of economic development, and consolidating the new development strategy as well as perfecting its method.