The Third Plenary Session of the 20th CPC Central Committee made an overall, systematic, forward-looking and practical strategic plan for further comprehensively deepening reform and promoting Chinese-style modernization, and drew up a new blueprint for further comprehensively deepening reform and promoting Chinese-style modernization. The plenary session proposed to "adhere to and implement the 'two unwavering'", "ensure that all ownership economies have equal access to production factors in accordance with the law, fair participation in market competition, equal legal protection, and promote the complementary advantages of all ownership economies and common development." To advance Chinese-style modernization, we must truly implement the "two unswerving principles" and strive for effective results. We must encourage economic entities of different ownments to complement each other's strengths, cooperate in division of labor, and live together in harmony, so as to achieve common development at a higher level, with higher quality and more sustainable. Promoting the complementarity and common development of economies under different forms of ownership at a high level is an important and urgent task on the new journey to further deepen reform in an all-round way and promote Chinese-style modernization.

To promote Chinese-style modernization, we must give full play to the complementary advantages and strategic functions of various ownership economies

The Third Plenary Session of the 20th Central Committee of the Communist Party of China pointed out that "the current and future period is a crucial period for China's modernization to comprehensively promote the construction of a strong country and the great cause of national rejuvenation." The Chinese-style modernization is a socialist modernization led by the Communist Party of China. It is a modernization featuring a huge population, common prosperity for all people, harmony between material and spiritual civilization, harmonious coexistence between man and nature, and peaceful development. It is a new form of human civilization that surpasses Western modernization and a new path for mankind to explore modernization. On the one hand, to promote Chinese-style modernization, we must build and form an economic system suited to China's national conditions, adhere to and improve the basic socialist economic system, and unswervingly uphold the common development of diverse forms of ownership with public ownership as the mainstay. On the other hand, promoting Chinese-style modernization is a pioneering undertaking and a grand systematic project. It requires mobilizing all social forces and giving full play to the enthusiasm, initiative and creativity of all entities. In particular, it is necessary to give full play to the complementary advantages and strategic functions of various forms of ownership to consolidate the foundation of Chinese-style modernization.

The public sector of the economy can ensure and give full play to the superiority of the socialist system of "concentrating one's power to do great things" and is a key force in promoting Chinese-style modernization. As an important representative of the public sector of the economy, state-owned enterprises are an important material and political foundation for socialism with Chinese characteristics, and an important pillar and force for the Party to govern and rejuvenate the country. State-owned enterprises integrate economic, political and social attributes with rich material, scientific and technological bases and talent bases. They focus on important industries and key fields related to national security and the lifeblood of the national economy, public services related to the national economy and the people's livelihood, emergency response capabilities, public welfare fields and forward-looking strategic emerging industries. It undertakes the strategic mission of scientific and technological innovation, industrial control, security support, and improvement of people's livelihood, and plays an irreplaceable important role in providing a solid material foundation for promoting Chinese-style modernization, protecting the common interests of the people, promoting social progress, and safeguarding national security. To promote Chinese-style modernization, we must give full play to the capital, technological, human resources, management and brand advantages of soes, give full play to their strategic functions of serving the national strategy, serving the interests of all the people, and serving social civilization and progress, and transform their diversified advantages and strategic functions into a strong driving force and strategic support for soes to contribute to the Chinese-style modernization drive.

The non-public sector of the economy has its own unique advantages and is an important force in promoting Chinese-style modernization. As an important part of the non-public economy, the private economy shows the characteristics of "May 66889", that is, it contributes more than 50% of the tax revenue, more than 60% of the GDP, more than 70% of the technological innovation results, more than 80% of the urban labor employment, more than 90% of the number of enterprises. It has played an important role in stabilizing the economy, increasing employment, national tax revenue, technological innovation, financial development, and foreign trade. General Secretary Xi Jinping pointed out that "the private economy is an important achievement in the development of the socialist market economy, an important force in promoting the development of the socialist market economy, and an important subject in promoting supply-side structural reform, promoting high-quality development, and building a modern economic system." It is also an important force for our Party to govern for a long time, unite and lead the people of the whole country to achieve the 'two centenary goals' and the Chinese dream of the great rejuvenation of the Chinese nation." In essence, the private economy is a natural market economy with flexible mechanism, strong sense of competition and fast response to the market. It is an important foundation for high-quality development and a new force for promoting Chinese-style modernization. As an important representative of the non-public sector of the economy, foreign-funded enterprises play an important role in supporting China's economic development and are an important force in promoting the common prosperity and development of the Chinese economy and the world economy. Foreign-funded enterprises often have the characteristics of advanced technology, advanced management and high level of internationalization. They are not only sharing the opportunities of Chinese modernization, but also becoming important participants and contributors in promoting Chinese modernization. To promote Chinese-style modernization, we need to give full play to the heterogeneous advantages and positive functions of the private economy and foreign-funded enterprises, and form a diversified driving force and multi-dimensional support for Chinese-style modernization.

The Chinese-style modernization has endowed the common development of various forms of ownership with richer connotations and higher requirements

The Third Plenary Session of the 20th CPC Central Committee pointed out that "a high-level socialist market economic system is an important guarantee for Chinese-style modernization" and "high-quality development is the primary task of comprehensively building a modern socialist country." Different from the "common development" in previous periods, the common development of various forms of ownership required by the promotion of Chinese-style modernization is "high-quality common development" under new circumstances such as accelerating the evolution of the century-old change, China's economy shifting from the stage of high-speed growth to the stage of high-quality development, and accelerating the construction of a high-level socialist market economy. The high-quality common development of diverse ownership economies is the new connotation, new requirements and new positioning given by Chinese modernization to the common development of diverse ownership economies, the advanced form and high-level paradigm of the common development of diverse ownership economies, and the high-level adherence and implementation of the "two unwavering". "High-quality common development" is based on the economic ecosystem concept and focuses on promoting high-quality economic development. It requires the complete, accurate and comprehensive implementation of the new development concept, and strives to build a good environment suitable for the healthy development of various ownership economies, promote high-quality development of various ownership economies, and promote high-level synergism and win-win cooperation among different ownership economies. To achieve multi-level, high-quality and sustainable "national progress", "national strength" and "national excellence", form a strong support for the construction of a modern economic system and a high-level socialist market economy, and provide a strong driving force for the promotion of Chinese-style modernization.

The first level of "high-quality common development" emphasizes the development quality of various ownership economies, that is, both the public and non-public economies themselves achieve high-quality development. At this level, various ownership economies are required to jointly achieve intensive, high-level, and sustainable development modes through quality, efficiency, and power changes, and form a common trend of scale growth and quality and efficiency improvement. This level means that when judging the common development of a variety of ownership economies, we should not simply stop at their proportional structure, proportion change, and relative growth rate in relevant indicators, but should pay attention to their own development progress, especially the continuous progress in the quality and efficiency of development. At this level, it is necessary to continue to deepen the reform of state-owned assets and state-owned enterprises, promote the optimization of the layout and structural adjustment of the state-owned economy with the "three concentrations" of state-owned capital, focus on improving the "five values" of state-owned enterprises, promote state-owned capital and state-owned enterprises to become stronger, better and bigger, enhance core functions, enhance core competitiveness, and truly achieve high-quality development of the state-owned economy. Guide private enterprises to practice the new development concept, adhere to the main business, strengthen the industry, improve the utilization efficiency of resource factors and operation management level through their own reform and development, compliance management, transformation and upgrading, consciously take the road of high-quality development, and promote the private economy to become bigger, better and stronger. We will strive to create a market-oriented, law-based, and world-class business environment, make greater efforts to attract and utilize foreign investment more effectively, and guide foreign-funded enterprises to improve the quality and level of development.

The second level of "high-quality common development" emphasizes the quality of "common development" of various ownership economies, that is, the realization of high-level and high-level synergies, mutually beneficial cooperation and ecological co-construction between the public and non-public economies, and the formation of a symbiotic community of complementary advantages, interdependence and solidarity. The logical starting point of this level is that the public economy and the non-public economy, as two populations in the economic ecosystem, have a symbiotic relationship similar to the symmetry or asymmetry between the populations in the natural ecosystem, and this symbiotic relationship is mainly realized through the benign competition mechanism, the division of labor and cooperation mechanism and the integration and sharing mechanism. At this level, healthy competition emphasizes high-quality development elements such as fair competition environment, quality competition, efficiency competition, innovation competition and responsibility competition between the public and non-public economies, and forms a high-quality and equal competition pattern. Division of labor and cooperation emphasizes the division of tasks and cooperation among different ownership economies based on their own advantages in the economic ecosystem, including high-level industrial collaboration, innovation collaboration and business cooperation. Industrial cooperation requires starting from the overall situation of national economic and social development and the new concept of modern industrial chain, optimizing the industrial division and layout of various ownership economies, and promoting a higher level of industrial chain and supply chain cooperation. Innovation synergy calls for encouraging economies of all ownerships to fully implement the innovation-driven development strategy, vigorously promote joint innovation, collaborative innovation, and integrated innovation, and comprehensively raise the level of innovation synergy. Business cooperation requires comprehensive optimization of business cooperation modes among various ownership economies, more strategic level cooperation, more emphasis on integrated cooperation, long-term cooperation, and upgrade the level of business cooperation. Integration and sharing emphasize that the public and non-public economies are embedded and cross-integrated deeply in the same economic organization, or through the deep sharing of core resources and key elements to achieve integrated development, the former is high-quality capital integration, the latter is high-level resource sharing.

The third level of "high-quality common development" emphasizes that the various ownership economies jointly achieve higher and more sustainable development results and social contributions, that is, the various ownership economies jointly strengthen the support for the construction of a modern economic system and high-quality economic development, and jointly enhance the contribution to the improvement of people's quality of life and promote social progress. Jointly enhance the positive function of promoting Chinese-style modernization. This level reflects the social value and macro effect of promoting the common development of various ownership economies, and is the deepening of the understanding of the common development of various ownership economies at a higher level across the micro level of enterprises and the middle level of populations. The judgment on the common development of multi-ownership economy puts more emphasis on whether it can promote the sustainable development of the entire economic ecosystem, whether it helps to enhance the contribution to high-quality economic development, and whether it is conducive to bringing tangible sense of gain to the people. At this level, it is necessary to guide enterprises of all types of ownership to establish a systematic, overall and long-term perspective, build a sustainable economic ecosystem, and jointly promote high-quality economic development and social progress.

To promote the high-quality and common development of multi-ownership economies, we need to continue to promote multi-level institutional innovation

The Third Plenary Session of the 20th Central Committee of the Party proposed that to further comprehensively deepen reform, we should "adhere to system construction as the main line, strengthen top-level design and overall planning, break and establish simultaneously, first and then break, build a solid fundamental system, improve basic systems, and innovate important systems." To promote the common development of diverse ownership sectors at three levels of high quality, we cannot do without favorable institutional arrangements and effective institutional supply. We need to continue to promote multi-level institutional innovation involving the common development of various ownership sectors. We need to work hard to improve basic institutions, optimize targeted institutions, improve subjective institutions, and innovate specialized institutions. Truly break the institutional bottlenecks that restrict the high-quality common development of diverse ownership economies.

Improving the basic system aims to ensure that economic entities under all forms of ownership have equal access to factors of production in accordance with the law, participate in market competition fairly, enjoy equal protection under the law, and effectively enjoy equal rights, equal opportunities, and equal rules. The focus should be on improving the property rights system, protecting the property rights of all forms of economic ownership on an equal and permanent basis in accordance with the law, continuing to improve the intellectual property rights protection system, imposing equal responsibility, equal punishment and improving the punitive compensation system for those who violate the property rights and legitimate interests of all forms of economic ownership. We will improve the market access system, thoroughly break down market access barriers, and appropriately reduce the negative list for foreign investment access. We will fully implement the policy and system of fair competition, promote the unification of basic market institutions and rules, fair and unified market supervision, and high-standard connectivity of market facilities, improve the system and rules of factor markets, and sort out and abolish regulations and practices that impede a unified national market and fair competition.

To optimize the targeted system is to take into account the differentiated characteristics of various ownership economies, and provide the system supply suitable for the development of specific types of ownership economies according to the different institutional obstacles and special institutional needs they face in their development. For the state-owned economy, the focus should be on eliminating the institutional drawbacks that restrict the high-quality development of state-owned enterprises, improving the management and supervision mechanisms of state-owned assets and state-owned enterprises, improving the institutional arrangements for state-owned enterprises to promote original innovation, establishing an evaluation system for state-owned enterprises to fulfill their strategic missions, and improving the classification evaluation system for state-owned enterprises. For the private economy, the focus should be on the formulation of a private economy promotion law, the establishment of a long-term mechanism for private enterprises to participate in the construction of major national strategies, major projects, and major technological research, the improvement of financing support policies and systems for private enterprises, the improvement of long-term supervision of enterprise-related charges and the legal and regulatory system for the settlement of debts owed to enterprises, and the establishment of a comprehensive credit evaluation system for private enterprises. We will improve the credit increase system for private small and medium-sized enterprises, and comprehensively build a friendly and clean relationship between government and business. For foreign-funded enterprises, the focus will be on expanding the list of industries that encourage foreign investment, deepening the reform of the system and mechanism for promoting foreign investment, ensuring the national treatment of foreign-funded enterprises, improving the system of convenient living for overseas workers, and creating a market-oriented, law-based and internationalized first-class business environment.

The improvement of the subjective system starts from the micro-enterprise subject, constructs and improves the organizational level system supporting the high-quality development of enterprises of all kinds of ownership, and forms the internal driving force for the sustainable growth of enterprises. The focus should be on improving the modern enterprise system with Chinese characteristics, strengthening the leadership of the Party, improving corporate governance, optimizing the operating mechanism, upgrading internal management, and encouraging enterprises to establish and improve a modern enterprise system with clear property rights, clear rights and responsibilities, separate government from enterprises, and scientific management, and implementing policies and promoting them according to the scale, stage of development, and nature of ownership of enterprises. We will establish and improve a long-term mechanism for promoting entrepreneurship, strive to optimize the institutional and policy environment for stimulating entrepreneurship, create a good atmosphere for the whole society to promote excellent entrepreneurship, and give better play to the leading role of entrepreneurs in promoting high-quality development of enterprises.

The innovation specialized system aims to promote the division of labor, cooperation, integration and sharing between the public and non-public economies, and provide specialized institutional supplies for industrial collaboration, innovation collaboration, business cooperation, capital integration and resource sharing among enterprises of various ownership. It is important to improve the long-term mechanism for state-owned enterprises and private enterprises to carry out industrial collaboration, innovation collaboration, business cooperation, capital integration and resource sharing, establish and improve the incentive, restraint and due diligence exemption mechanism to promote the coordinated development of state-owned enterprises and private enterprises, and increase the enthusiasm of the two sides to deepen cooperation and high-level collaboration. We will improve policies supporting the coordinated development of state-owned enterprises and private enterprises, formulate and introduce specific measures to promote the coordinated development of state-owned enterprises and private enterprises, and strengthen special support for key projects, projects, and areas of coordinated development.

Source: SASAC of The State Council