On the new judgment on the principal contradiction facing Chinese society and financial function in China: a mission of financial theory development with Chinese characteristicsApr. 28,2020
Holding a market-augmenting government is a direct reason for the rapid development of productivity and the partial transformation of social contradictions in China after the reform and opening-up. In the new judgment of principal social contradiction, “people’s ever-growing needs for a better life” mainly refers to the needs of advanced system and public goods, and “unbalanced and inadequate development” is also closely related to the development strategy since reform and opening-up. Therefore, the Chinese government’s responsibilities cannot be measured by the counterpart of Western governments, nor can we deny the general economic and social laws, because our government takes special responsibilities. To solve the principal social contradiction, government needs to more scientifically implement the market system and better develop its own function. In this process, public finance occupies the position of convergence and plays a joint role. It is also the significance of public finance as the foundation and pillar of national governance. In China’s financial theory and practice, allocation logic and tradeoff logic should be combined organically. Government should more firmly persist in the thought of market economy and promote the formation of inclusive social mechanism and system.
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