General Secretary Xi Jinping pointed out, "The selection of path is a life-or-death issue for the future of the CPC," he told the new leadership. " Over the past century, the Communist Party of China has realized the combination of the basic principles of Marxism with China's specific reality from revolution to construction and from reform to development.
This paper summarizes the four characteristics of China's path from the perspective of Political Economy: 1. Socialist transformation aims to promote the development of productive forces and lay the institutional foundation. 2. The completion of socialist transformation has laid a material foundation for reform and opening up. China has entered the primary stage of scientific understanding of socialism and carried out all-round ideological emancipation. 3. We have established a basic socialist economic system with Chinese characteristics, with multiple forms of ownership and distribution coexisting. 4. Taking developed countries as models and catch-up targets, we are moving towards a powerful socialist modern country. It has Chinese characteristics in the goal, path and way of realizing socialist modernization.
