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The 19th National Congress of the Communist Party of China (CPC) has taken Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era (hereinafter referred to as the "Thought") as the guiding principle to which the CPC must adhere over the long term. The Thought serves as the CPC's theoretical guide in the new era and is the manifestation of Marxism for 21st-century China. It is also a theory based in science that closely ties practicability and innovation to rejuvenate China. Since the 19th CPC National Congress was convened, innovative attempts have been made to enrich and develop the Thought; these attempts are explained in the third volume of Xi Jinping: The Governance of China. In this book, general secretary Xi Jinping's remarks on high-quality economic development carry critical importance because he breaks down the "what," "why," and "how" of achieving high-quality economic development based on practical thought and rigorous logic.
Why high-quality economic development should be promoted
High-quality economic development reflects China's new development philosophy
General secretary Xi Jinping noted in the report delivered at the 19th CPC National Congress that a defining feature of China's economic development in the new era is that the economy has been transitioning from rapid growth to high-quality development. General secretary Xi Jinping further defined high-quality development, explaining that "highquality development can meet the people's ever-growing desire for a better life. It embodies the new development philosophy that regards innovative development as the top growth driver, coordinated development the intrinsic feature, green development the prevailing form, open development the indispensable approach, and shared development the ultimate goal."
This new development philosophy provides guidance for practice, as it is a strategic, overarching, and guiding plan and embodies development ideas, direction, and priorities. As socialism with Chinese characteristics enters a new era, China's economy also embraces a "new normal" with new changes and characteristics that present unprecedented opportunities and challenges. In 2014, general secretary Xi Jinping remarked that now, Chinese economy has entered a "new normal." It is shifting gears from high-speed to medium-to-highspeed growth, from an extensive model that emphasized scale and speed to a more intensive one valuing quality and efficiency, from focusing on expanding quantity and capacity to emphasizing revitalizing existing resources while facilitating growth,...