The new development concept is a theoretical and practical guide for China’s economic and social development.

　　Author: Zhou Yuehui, Economics Department of Central Party School

　　The Fifth Plenary Session of the 18th CPC Central Committee emphasized that the development concept of "innovation, coordination, green, openness and sharing" must be firmly established and effectively implemented in order to achieve the development goals during the 13th Five-Year Plan period, solve development problems and cultivate development advantages. It is the first time in the history of our party to write the new development concept into the document of the Central Plenary Session as an organic whole. The new development concept is a theoretical and practical guide for China’s economic and social development in the "Thirteenth Five-Year Plan" and even a longer period.

　　General Secretary of the Supreme Leader pointed out that the concept of development is the forerunner of development action, the thing that manages the overall situation, the root, the direction and the long-term, and the concentrated expression of development ideas, development direction and development focus. At present, world multipolarization, economic globalization, cultural diversity and social informatization will develop in depth, but the haze of the international financial crisis has not dissipated. At the same time, the task of domestic reform, development and stability is still arduous, facing the dual pressures of economic downturn and transformation and upgrading, and the cyclical and structural contradictions are prominent. It is urgent to accelerate the transformation of economic development mode. Under the previous circumstances, the new development concept clarified the main context of economic and social development during the 13 th Five-Year Plan period. At present, China’s economic development has entered a new normal, and the internal supporting conditions and external demand environment of economic development have undergone profound changes. Adapting to and leading the new normal requires a brand-new development concept. The new development concept just meets the requirements of adapting to and leading the new normal of economic development, conforms to the overall improvement trend of China’s productivity level, and is a prescription for the complicated international and domestic situation.

　　From the logical structure, the new development concept is a tight whole. Innovation is the first driving force to lead development. Under the situation of increasingly fierce international development competition and the transformation of China’s development power, we must focus on innovation, form an institutional framework to promote innovation, and shape more leading development driven by innovation and giving full play to the first-Mover advantage. Coordination is the inherent requirement of sustained and healthy development. We should adhere to regional coordination, integration of urban and rural areas, equal emphasis on material civilization and spiritual civilization, and integration of economic construction and national defense construction, broaden the development space in coordinated development, and enhance the development potential in strengthening weak areas. Green is a necessary condition for sustainable development and an important embodiment of people’s pursuit of a better life. We should adhere to the principle of enriching the country and benefiting the people, provide more high-quality ecological products for the people, promote the formation of a green development mode and lifestyle, and work together to promote people’s prosperity, country’s prosperity and China’s beauty. Opening-up is the only way for the country’s prosperity and development. To create a new situation of opening-up, we must enrich the connotation of opening-up, improve the level of opening-up, promote strategic mutual trust, economic and trade cooperation and cultural exchanges in coordination, and strive to form a deeply integrated and mutually beneficial cooperation pattern. Sharing is the essential requirement of Socialism with Chinese characteristics. We should stick to the bottom line, highlight key points, improve the system, guide expectations, pay attention to fair opportunities, safeguard basic people’s livelihood and achieve the goal of building a well-off society in an all-round way in accordance with the requirements of everyone’s participation, everyone’s efforts and everyone’s enjoyment.

　　It is worth pointing out that the "Thirteenth Five-Year Plan" period may be a period of continuous accumulation and even concentrated exposure of domestic and international risks. This requires us to firmly establish a new development concept, adhere to the bottom line thinking, enhance our sense of urgency and risk, take precautions, and establish and improve the institutional mechanisms to resolve various risks. At present, we should pay special attention to resolving economic risks, including overcapacity risk, real estate risk, local government debt risk, financial risk and so on. We should also pay attention to responding to the voices and concerns of the masses, focus on solving employment, social security and other issues, and coordinate various interests. It is necessary to develop an open economy at a higher level and seek mutually beneficial cooperation with deep integration. Put China’s development under the background of economic globalization, and expand the international vision and the mind of a big country. Maintain strategic strength, make better use of international markets and resources, and expand the breadth and depth of opening up. Improve the level of trade and investment facilitation, strengthen international capacity cooperation, pragmatically promote the construction of the "Belt and Road", actively participate in global economic governance and public goods supply, and build a broad community of interests.

　　In short, the new development concept clarifies the basic ideas and methods of leading the new normal of economic development and building a well-off society in an all-round way according to China’s development environment, conditions, tasks and requirements under the new normal. We must find the focus of development, run the new development concept through the whole process and all fields of China’s economic and social development, so that the new development concept can truly take root and blossom!