On the afternoon of April 29, the Political Bureau of the CPC Central Committee conducted the thirty-eighth collective study on regulating and guiding the healthy development of capital in my country.
Xi Jinping, General Secretary of the Central Committee of the Communist Party of China, emphasized when presiding over the study that capital is an important factor of production in the socialist market economy, and regulating and guiding the development of capital under the conditions of the socialist market economy is not only a major economic issue, but also a major political issue. The practical issue is also a major theoretical issue. It is related to adherence to the basic socialist economic system, the basic national policy of reform and opening up, high-quality development and common prosperity, and national security and social stability.
We must deepen our understanding of various types of capital and their roles in the new era, regulate and guide the healthy development of capital, and play its active role as an important factor of production.
Liu Yuanchun, vice president and professor of Renmin University of China, explained this issue and put forward work suggestions.
Comrades from the Political Bureau of the Central Committee listened carefully to the explanation and held discussions.
Xi Jinping delivered an important speech while presiding over the study.
He emphasized that in the course of the party's century-long struggle, we adhered to the basic principles of Marxism, proceeded from our country's national conditions and main tasks in different periods, continuously deepened our understanding of capital, and constantly explored principles and policies to regulate and guide the healthy development of capital.
After the implementation of reform and opening up at the Third Plenary Session of the Eleventh Central Committee of the Communist Party of China, we have broken the shackles of traditional concepts of ownership, and believe that capital, as an important factor of production, is a tool for the market to allocate resources, and a way and means for economic development. Socialist countries can also Using various types of capital to promote economic and social development, it has gradually established basic socialist economic systems such as public ownership as the main body, multiple ownership economies developing together, distribution according to work as the main body, multiple distribution methods coexisting, and the socialist market economic system. Unswervingly consolidate and develop the public economy, and unswervingly encourage, support and guide the development of the non-public economy.
Xi Jinping pointed out that since the 18th National Congress of the Communist Party of China, we have adhered to and improved the basic socialist economic system, and have written the "two unswerving" into the basic strategy of upholding and developing socialism with Chinese characteristics in the new era, as a part of the party and the country. The major policies were further determined.
We have comprehensively deepened reforms, and emphasized that the market should play a decisive role in resource allocation, the government should play a better role, and create a more favorable market environment and legal environment for the development of various types of capital.
We strengthen anti-monopoly, prevent disorderly expansion of capital, effectively prevent risks, and maintain fair market competition.
We focus on preventing and defusing financial risks, overcoming the tendency of the economy to deviate from reality to reality, and focus on addressing non-performing asset risks and bubble risks.
We continue to expand opening up, and strive to build a new development pattern with the domestic cycle as the main body and the domestic and international dual cycles mutually reinforcing, and build a new system of a higher-level open economy.
Our understanding of the nature of capital has gradually deepened, our understanding of the role of capital has become more comprehensive, our grasp of the laws of capital has become more in-depth, and our ability to manage capital operations has been continuously improved.
Xi Jinping emphasized that over the past 40 years of my country's reform and opening up, capital, together with production factors such as land, labor, technology, and data, have contributed to the prosperity and development of the socialist market economy, and the positive role of various types of capital must be fully affirmed.
At this stage, my country has various forms of capital, including state-owned capital, collective capital, private capital, foreign capital, and mixed capital.
Xi Jinping pointed out that we must adhere to the party's leadership and my country's socialist system, firmly grasp the correct political direction, adhere to problem-oriented, systematic thinking, be based on the current, focus on the long-term, adhere to the combination of dredging and blocking, classify policies, and coordinate development and safety, efficiency and fairness. , vitality and order, domestic and international, focus on stimulating the vitality of various types of capital including non-public capital, and play its active role in promoting scientific and technological progress, prospering the market economy, facilitating people's lives, and participating in international competition, so that they always obey and serve In the interests of the people and the country, it will contribute to building a modern socialist country in an all-round way and realizing the great rejuvenation of the Chinese nation.
Xi Jinping emphasized that it is necessary to strengthen theoretical research on capital under the conditions of the new era.
How to regulate and guide the healthy development of capital under the socialist system is a major theoretical and practical problem that must be studied and solved by Marxist political economy in the new era.
It is necessary to in-depth summarize the positive and negative experience in treating and handling capital since the founding of New China, especially since the reform and opening up, deepen the theoretical research on capital under the conditions of the socialist market economy, guide practice with scientific theories, and promote the sound and common development of various types of capital. Give full play to its role in developing productive forces, creating social wealth, and enhancing people's well-being.
Xi Jinping pointed out that it is necessary to understand and grasp the various types of capital existing in our society and their functions historically, developing and dialectically.
Under the socialist market economy system, capital is an important link for driving the agglomeration and allocation of various production factors, and an important force for promoting the development of social productive forces. It is necessary to give play to the positive role of capital in promoting the development of social productive forces.
At the same time, it must be recognized that capital has a profit-seeking nature. If it is not regulated and restrained, it will bring immeasurable harm to economic and social development.
We must base ourselves on the new development stage, implement new development concepts, build a new development pattern, promote high-quality development, and correctly handle the relationship between different forms of capital. healthy growth.
Xi Jinping stressed that the issue of capital and benefit distribution must be properly handled.
The national nature of my country's socialism determines that we must adhere to the principle of distribution according to work, with multiple distribution methods coexisting, and to reflect the supremacy of the people in social distribution.
It is necessary to pay attention to the inclusiveness of economic development and the fairness of primary distribution, not only to ensure that capital participates in social distribution to gain growth and development, but also to maintain the dominant position of distribution according to work, and insist that development is for the people, development depends on the people, and development results are owned by the people. Sharing, and unswervingly follow the path of common prosperity for all people.
Xi Jinping pointed out that it is necessary to deepen the reform of the capital market.
It is necessary to continue to improve the basic system of my country's capital market, give better play to the functions of the capital market, and release more space for the development of various types of capital.
It is necessary to improve the property rights protection system, further promote the implementation of the fair competition policy, fully implement the fair competition review system, eliminate various market barriers, and enable all types of capital to have equal opportunities, fair access, and orderly competition.
It is necessary to improve the open economic system, continuously improve the level of opening to the outside world, promote investment facilitation, and attract more international capital to invest and start businesses in my country with a high-quality market environment.
We must support and encourage Chinese capital and enterprises to go global.
Xi Jinping stressed the need to regulate and guide the development of capital.
It is necessary to set up "traffic lights", improve the legal system for capital development, and form a rule system with a complete framework, clear logic and complete system.
Guided by the protection of property rights, the maintenance of contracts, the unification of the market, the equal exchange, fair competition, and effective supervision, in response to the outstanding problems, the relevant laws and regulations should be formulated, revised, and abolished.
It is necessary to strictly control the entrance of the capital market, improve the market access system, and improve the scientificity and accuracy of the market access list.
It is necessary to improve the rules and regulations of capital behavior.
It is necessary to strengthen anti-monopoly and anti-unfair competition supervision and law enforcement, and crack down on monopoly and unfair competition acts such as abuse of market dominance in accordance with the law.
It is necessary to cultivate a culture of integrity that is civilized, healthy, upward and kind, and educates and guides the main body of capital to practice the core socialist values, respect credit and trustworthiness, pay attention to social responsibility, and follow the right path in the world.
Xi Jinping pointed out that it is necessary to comprehensively improve the efficiency of capital governance.
It is necessary to summarize experience, grasp the laws, explore and innovate, enhance the pertinence, scientificity, and effectiveness of capital governance, and improve the full-chain capital governance system that links advance guidance, in-process prevention, and post-event supervision.
It is necessary to deepen the reform of the regulatory system and mechanism, adhere to legal supervision, fair supervision, source supervision, precise supervision, and scientific supervision, fully implement supervision responsibilities, innovate supervision methods, make up for supervision shortcomings, and improve capital supervision capabilities and the level of modernization of the supervision system.
The laws and regulations are not clear, and the supervision responsibility should be implemented according to the principle of "whoever approves, whoever supervises, whoever is in charge, whoever supervises".
To strengthen territorial supervision, local governments must fully implement territorial supervision responsibilities to ensure that supervision is in place.
It is necessary to improve the division of labor and cooperation mechanism for industry governance and comprehensive governance, and strengthen the coordination and linkage of industry supervision and comprehensive supervision of financial supervision, foreign investment supervision, competition supervision, and safety supervision.
It is necessary to accurately grasp the key areas and key objects that may bring systemic risks, enhance the predictability and agility of governance, and discover and resolve risks early.
Xi Jinping emphasized that it is necessary to strengthen anti-corruption in the capital field, maintain a high-pressure anti-corruption situation, resolutely crack down on capital-based profit-seeking behaviors based on power, and focus on investigating and punishing corrupt behaviors behind disorderly expansion of capital and platform monopoly.
Xi Jinping pointed out that regulating and guiding the healthy development of capital is an important part of the Party's leading economic work.
Party committees (party groups) at all levels should unify their thoughts and actions into the decision-making and deployment of the Party Central Committee, earnestly assume the main responsibility, improve their capital management skills, strengthen policy publicity and guidance on expectations, and resolutely prevent systemic risks.