Institutional guarantee for high-quality development

　　Perfecting the basic socialist economic system is the institutional guarantee for high-quality economic development and the construction of a modern and powerful country. Standing at a new historical starting point, we should adhere to and improve the socialist basic economic system and promote high-quality economic development in accordance with the requirements put forward by the Fourth Plenary Session of the 19th CPC Central Committee, closely focus on the goal of high-quality development, firmly grasp the important key point of adhering to and improving the socialist basic economic system, and vigorously promote China’s economy to achieve high-quality development.

　　The socialist basic economic system is a great creation of the party and the people and an institutional guarantee for high-quality development.

　　The Fourth Plenary Session of the 19th CPC Central Committee took "public ownership as the main body, multiple ownership economies developing together, distribution according to work as the main body, multiple modes of distribution coexisting, and socialist market economic system" as Socialism with Chinese characteristics’s basic economic system, which is the latest summary and development of China’s socialist basic economic system, a major institutional innovation for China’s socialist basic economic system, and also an important theoretical innovation, reflecting the combination of theoretical innovation, institutional innovation and practical innovation. These economic systems are interrelated and mutually promoted, forming a socialist basic economic system, which is a great creation of the party and the people and an institutional guarantee for high-quality development.

　　The dominant position of public ownership has maintained the nature of the socialist system and the socialist direction of China’s economic development.Adhering to the common development of various forms of ownership has mobilized the enthusiasm of all parties, released new vitality for economic development, improved the enthusiasm and creativity of market players, and cultivated new kinetic energy for economic development. This system maintains the advantages of public assets in quantity, strengthens the control of public economy in important areas of national economy in quality, and realizes the combination of quality and quantity. By improving relevant laws, regulations and policies, we will promote and guide the healthy development of the non-public sector of the economy, so that the public sector of the economy and the non-public sector of the economy can work together to better serve the economic development in the new era.

　　The ownership structure with public ownership as the main body and multiple ownership economies developing together determines the distribution system with distribution according to work as the main body and multiple modes of distribution coexisting.The ownership system determines the distribution system, the dominant position of public ownership determines the distribution according to work, and the coexistence of various forms of ownership determines the coexistence of various modes of distribution. Taking this distribution system as the content of the basic socialist economic system ensures the long-term stability of this distribution system. The basic economic system with distribution according to work as the main body and multiple modes of distribution coexisting plays a positive role in narrowing the income gap, avoiding polarization and improving the income of workers. This distribution system has improved the mechanism that labor, capital, land, knowledge, technology, management, data and other production factors determine their remuneration according to their contributions, and improved the redistribution adjustment mechanism with taxation, social security and transfer payment as the main means, which can rationally adjust the distribution relationship between urban and rural areas, regions and groups, protect legitimate income and ban illegal income.

　　Raising the socialist market economic system to a basic economic system is an affirmation of the combination of socialist system and market economy.The socialist market economy is the combination of socialist system and market economy. Perfecting the socialist market economy system is to build an economic system with "effective market mechanism, dynamic micro-subjects and moderate macro-control", which is a combination of strong market, strong government and strong enterprises. The Fourth Plenary Session of the 19th CPC Central Committee brought the socialist market economy system into the basic economic system, which deepened our party’s understanding of the role of market economy and the relationship between market and government, and showed the world that the direction of developing socialist market economy in China will remain unchanged in the future.

　　On the basis of adhering to the main role of public ownership economy, actively explore various forms of public ownership to promote high-quality economic development.

　　The Decision of the Fourth Plenary Session of the 19th CPC Central Committee put forward "exploring various forms of public ownership" in the paragraph of state-owned economic reform. Putting "exploring various forms of public ownership" in the first sentence has profound significance.

　　On the basis of adhering to the dominant position of public ownership, we can explore the diversification of public ownership.Public ownership and its realization form are the relationship between content and form. Under the premise of adhering to the dominant position of public ownership, the realization form of public ownership can be diversified, and the organizational form and management mode of public assets can be diversified with the goal of maintaining and increasing the value of public assets. The choice of the realization form of public ownership mainly depends on the development level of productive forces. At present, China is still in the primary stage of socialism, and the multi-level and unbalanced development of productive forces in the primary stage of socialism determines the diversification of the realization form of public ownership. The diversification of the forms of public ownership includes two meanings: the first meaning is that the forms of public ownership are diversified, and its own diversification includes ownership by the whole people and collective ownership, etc., and the diversified forms of public ownership can be combined with each other to form more diversified forms of public ownership. At the same time, the carrier of property rights of public ownership is also diversified, and the management system and mode of public ownership can also be diversified. The second meaning is that public ownership coexists with other forms of ownership in the primary stage of socialism, forming an ownership structure with public ownership as the main body and multiple ownership systems coexisting. According to the diversification of public ownership forms, we can promote the separation of ownership and management rights and realize the separation of state-owned economy and state-owned assets in concept and operation, which further shows that the realization form of public ownership economy is not only the type of state-owned enterprises, but also can explore various forms of realization.

　　The state-owned economy should adjust its strategic layout, with progress and retreat.General Secretary of the Supreme Leader has made many speeches on the structural adjustment of the layout of the state-owned economy. He proposed, "Speed up the layout optimization, structural adjustment and strategic reorganization of the state-owned economy. Advance and retreat, do something different, innovate and develop a batch, reorganize and integrate a batch, clean up and withdraw a batch, promote the concentration of state-owned capital in strategic key areas and advantageous industries, and accelerate the strategic adjustment of the state-owned economy. " According to the exposition of the Supreme Leader General Secretary and the spirit of the Fourth Plenary Session of the 19th CPC Central Committee, we need to deepen the supply-side structural reform, adjust and optimize the layout structure of the state-owned economy, revitalize the manufacturing industry and the real economy, actively promote the transformation and upgrading of traditional industries, and accelerate the development of strategic emerging industries. In the economic development of the new era, around the major strategy of serving the country, we should persist in making progress and retreating, and do something different. We should invest more state-owned capital in important industries and key areas that are related to the lifeline of the national economy, especially strategic emerging industries, promote the upgrading of economic structure, optimize the layout of state-owned assets and state-owned enterprises, and cultivate new economic growth points.

　　Take mixed ownership as a new realization form of public ownership.The Fourth Plenary Session of the 19th CPC Central Committee included the reform of mixed ownership in the scope of state-owned economy, which is to bring the reform of mixed ownership into the scope of ownership reform and explore the realization form of public ownership through the reform of mixed ownership. This means that the mixed ownership economy with cross-shareholding and mutual integration of state-owned capital, collective capital and non-public capital is an important realization form of the basic economic system. This form is conducive to amplifying the function of state-owned capital, improving the competitiveness of state-owned capital, expanding the development space of private capital, and promoting and developing all kinds of ownership capital together. As a new form of public ownership, the reform of mixed ownership is not only a breakthrough in the reform of state-owned enterprises, but also brings new opportunities for the development of private enterprises. Through the promotion of mixed ownership reform, we can promote the integrated development of state-owned capital and non-public capital, thus stimulating the endogenous power of China’s high-quality economic development.

　　Improve the policy system to support the new form of public ownership.Exploring the new realization form of public ownership economy is to better adhere to the dominant position of public ownership, and developing mixed ownership economy is a new exploration of the realization form of public ownership and an important way to consolidate China’s basic economic system. However, the development of mixed ownership economy needs to improve the policy system supporting the new realization form of public ownership, and focus on solving the reform motive force of mixed ownership, the equal protection of all kinds of property rights in the reform of mixed ownership and the operation mechanism of mixed ownership. Focusing on the development of mixed ownership, it is necessary to highlight the transformation of operating mechanism, explore a management and control model that adapts to the development of mixed ownership economy, and enhance the enthusiasm and initiative of social capital to participate in the reform of mixed ownership of state-owned enterprises. We will create an integrated development of various ownership entities, use resource elements equally according to law, and form a market environment that is open, fair and just to participate in competition and equally protected by law.

　　Combine the improvement of the high-level socialist market economic system with the construction of a high-level open economic new system to promote high-quality economic development.

　　Achieving high-quality economic development requires certain conditions. This condition is the combination of the role of the government and the role of the market. The combination of a high-level domestic socialist market economic system and a high-level opening-up system is the institutional and institutional basis for achieving high-quality development. To this end, we should combine the improvement of the high-level socialist market economic system with the construction of a high-level open economic new system to promote high-quality economic development.

　　On the basis of giving play to the decisive role of the market in resource allocation, we should correctly handle the relationship between the government and the market, give full play to the role of the government, and combine the role of the government with the role of the market to promote high-quality economic development.With the goal of high-quality development, we should correctly handle the relationship between the government and the market, realize the combination of the government and the market on the basis of effectively exerting the decisive role of the market, and accelerate the high-quality development. On the one hand, realize the combination of government function and market function. In the process of economic development, we should follow the laws of market economy and improve the market system. Clarify the decisive role of the market in resource allocation and truly change the mode of economic development. At the same time, we should change government functions, give play to the role of supervision, guidance and regulation, and play the role of government through macroeconomic regulation, making up for market failures and the supply of public goods. On the other hand, a modern economic system is established through the combination of government and market. Build an economic system with effective market mechanism, dynamic micro-subjects and moderate macro-control. Through the combination of the role of government and market, on the basis of quality reform, efficiency reform, power reform and improving total factor productivity, we will accelerate the construction of a modern economic system with supply-side structural reform as the main line. Build a modern industrial system with coordinated development of real economy, scientific and technological innovation, modern finance and human resources.

　　Realize the combination of a high-level socialist market economy and a higher-level open economic new system to promote high-quality development.On the one hand, China should build a high-level socialist market economic system. Build a high-standard market system, speed up the improvement of the property rights system, and realize effective incentives for property rights. Accelerate the market-oriented allocation of factors and realize the free flow of factors. Create a unified, open and competitive market environment. Improve the property rights definition system, property rights allocation system and property rights transaction system, and promote the market-oriented allocation of factors. In accordance with the spirit of the Fourth Plenary Session of the 19th CPC Central Committee, improve the system and mechanism of scientific and technological innovation, improve the system and mechanism of encouraging and supporting basic research and original innovation, and improve the incentive mechanism of scientific and technological talents and the policy system of scientific and technological management. Establish a technological innovation system with enterprises as the main body, market orientation and deep integration of Industry-University-Research. On the other hand, it is necessary to build a new open economic system at a higher level. The Third Plenary Session of the 18th CPC Central Committee proposed to build a new open economic system, and the Fourth Plenary Session of the 19th CPC Central Committee proposed to build a new open economic system with a higher level. Comparatively speaking, the requirements for opening up are higher and the level is higher, which means that in the new era, we should implement comprehensive opening-up in a wider scope, in a wider field and at a deeper level. In order to achieve this goal, we should strive to create a market-oriented, rule-based and international business environment, further promote the construction of a new open economic system, and promote high-quality economic development with a high level of openness.

　　Author: Ren Baoping, Dean and Professor of Graduate School of Northwest University and Changjiang Scholar of Ministry of Education.