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Xi Jinping Thought on Economy: A Scientific Theory Guiding China's High-Quality Development

Strategic Insights

— 2 min read

Chinese President Xi Jinping has emphasized the importance of Xi Jinping Thought on Economy, an essential part of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, in guiding the country's high-quality development. This thought has formed the foundation for China's economic achievements, showcasing the country's unique approach to modernization and development. By upholding Marxist political economics and innovating theory, Xi Jinping Thought on Economy provides a scientific theory rooted in China's national conditions, with a global perspective, and oriented toward the future.

Key Takeaways:

  • Xi Jinping Thought on Economy upholds and develops Marxist political economics, drawing on and going beyond Western economics, and is a scientific theory rooted in China's national conditions, with a global perspective, and oriented toward the future.
  • The thought provides scientific guidance for accurately grasping the laws of economic and social development and advancing socialist economic construction.
  • Xi Jinping Thought on Economy stresses steadily advancing new industrialization, informatization, urbanization, and agricultural modernization, integrating the pursuit of high-quality development throughout the process of new industrialization.
  • The Chinese characteristics of the economic system are embodied in the people-centered development philosophy, which contrasts with the Western doctrine of upholding private ownership and the dominance of private ownership.
  • Xi Jinping Thought on Economy guides China's economic development, providing a clear path and method for promoting high-quality development, including innovation, coordinated development, green development, open development, shared development, and modernization for the common prosperity of all people.
  • The thought emphasizes that innovation is the primary driving force for development, and China's R&D investment reached 2.68 percent of GDP in 2024.
  • Xi Jinping Thought on Economy prioritizes the integrated development of urban and rural areas, improving the ecological environment, and protecting productivity.
  • The thought emphasizes China's commitment to building an inclusive, clean, and beautiful world of lasting peace, universal security, and shared prosperity.

Statistics:

  • China's GDP reached 130 trillion yuan ($18.11 trillion) in 2024, making it the world's second-largest economy.
  • The per capita GDP rose from $6,300 in 2012 to over $13,000 in 2024, nearing the threshold of high-income countries.
  • China's R&D investment reached 2.68 percent of GDP in 2024.

Sources:

  • Xi Jinping on Economics, Volume 1, Selected Works 2012-2024
  • Global Times (August 13, 2025)
  • Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era (adopted at the 19th National Congress of the Communist Party of China)

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