November 25, 2015, a day after Xi Jinping chaired a politburo study session on the Marxist political economy, Qiushi Journal, a semi-monthly publication of the Central Committee of the Chinese Communist Party (CCP), published a commentary titled, "Extending New Spheres of the Marxist Political Economy in Contemporary China." It called for creatively contributing to the evolution of the Marxist political economy.
The commentary recalled that, since 1949, all the way through the reform and opening up years, four former CCP leaders, Mao Zedong, Liu Shaoqi, Deng Xiaoping, and Chen Yun, all paid attention to the study, research, and application of the Marxist political economy.
As China’s reform enters a period where it must fight the toughest battles, the interests that a number of social groups have expressed have become more diversified and economic development has displayed growing uncertainty. To seek the right way forward, to respond to the challenges of our time, to showcase the benefits of the socialist system, and to offer theoretical guidance in the practice of grand historic reform, the Marxist political economy is called for in order to fulfill its historic mission with characteristics that mark open-mindedness, inclusiveness, and evolving with the changing times.
The commentary stated that, in the face of the extremely complex economic situation at home and abroad, as well as varied economic phenomena, the study of the Marxist political economy could help in the conduct of an economic analysis in a scientific way, improve the capability of managing a socialist market economy, and better answer problems related to economic development.
The commentary concluded that the creative evolution of the Marxist political economy requires us to take into consideration the relationship between politics and the economy, government and markets, the economy and society, and China and the world. It also requires us to have a firm grasp of the situation in China while borrowing from helpful elements in Western economics. This will bring forth the great momentum, vitality, and potential of the theoretical creativity that underpins China’s sweeping economic and social development, and will facilitate the contribution of Chinese wisdom to the Marxist political economy.
Source: Qiushi Journal, November 25, 2015