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Since the core issue of Chinese economics is to elucidate the logical relationship between socialism and the market economy, it necessitates a robust foundation for microeconomic analysis to uncover the behavioral patterns and characteristics of microeconomic agents in a socialist market economy and identify the conditions and methods for the functioning of market mechanisms.

The core issue of microeconomics with Chinese characteristics is to identify the economic logic of how market mechanisms play a decisive role in resource allocation under the basic socialist economic system based on China's reform.

The core issue in building the foundation of microeconomic analysis of Chinese economics is addressing the compatibility issue between SOEs and a market economy.

In the author’s view, this can be achieved under the logic of classified reform so as to build the microeconomic foundation for the effective functioning of a socialist market economy.

This paper aims to assess the comparative position of the national innovation system of Chinese state entrepreneurship versus liberal market entrepreneurship. Based on the comparative institutional framework, it asks whether Chinese state entrepreneurship has a comparative disadvantage because of its incoherent institutions in liberal or coordinated economies. Hence, does the Chinese institutional system of innovation lag behind that of US or liberal countries of Organisation for Economic Co-operation and Development (OECD) economies in the transformation of national science into economic products measured as high-technology exports?

This study uses panel data analysis based on 29 OECD economies and the Chinese economy over 23 years. Regarding national science productivity (explorative capabilities), it includes published and patented science streams; regarding technological transformation (exploitative capabilities), it measures the percentage of high-technology exports in gross domestic product (GDP). The interactions between the types of entrepreneurship and national science institutions serve as predictors in the design.

The results show that Chinese state entrepreneurship has a comparative advantage over liberal economies in published science. However, Chinese state entrepreneurship has a comparative disadvantage compared to liberal entrepreneurship in patent science. Regarding the dyadic level of comparability between the national economies, there are mixed results in the transformation of national science.

This study supports the three following theoretical points: national institutions differ regardless of the pressure of convergence through globalization; national science contingencies influence different paths of the transformation of national science to technology; and mixed economies, such as state entrepreneurship, can achieve high performance without fully conforming to liberal markets.

This study emphasizes institutional mechanisms for future research to support the innovation of incoherent institutions and suggests the benefit of cross-pollination of senior managers between state and private organizations for a defined duration.

Theoretically, this research combines an interdisciplinary and interinstitutional level of analysis, and in so doing, it deals with the transformation of national science in scientific publications and patents in the vertical value chain. Empirically, this study links the national published and patented science with the national economic artifacts in high-technology sectors. This novel approach to assess the national and discipline-level interaction sets a context for the future research in other settings. It also informs policy decisions regarding the growth of science, innovation and development.

In the process of reform, although every landmark theoretical breakthrough is marked by the speech of the highest leadership of the Communist Party of China (CPC) or the decision of the CPC National Congress, each breakthrough is attributable to the theoretical contribution made by the academia of political economy. Notably, these theoretical breakthroughs invariably embrace innovations in the discourse system of political economy. The paper aims to discuss this issue.

The innovations and breakthroughs thereof have led to the political economy of socialism with Chinese characteristics.

The success of China’s economy highlights the superiority of the socialist economic system and development path with Chinese characteristics.

These major breakthroughs are accompanied by breakthroughs in relevant theories, which constitute a synthesis of a series of major theoretical innovations in political economics.

This paper is a response to the doctrine that capital is incompatible with public ownership. The fundamental characteristics of modern productivity determine the co-existence of the market economy and capital relations.

Socialism can neither bypass the market economy nor “go beyond capital”; capital appears in two historical forms, including the private capital and the public capital. Public capital is the inevitable outcome of the inherent contradictions of public ownership in a socialist market economy.

It represents an economic relationship that compels individual labourers to provide surplus labour for the society. The combination of the strong accumulation function of public capital and the improvement of people's welfare is the main cause of China's development miracle.

The innovation impetus of the public capital and its “immunity” to the capitalist crisis highlight the tremendous power of socialism with Chinese characteristics in breaking free of the shackles of capitalism and continuously developing productive forces. Public capital demonstrates and will continue to demonstrate the historical legitimacy of socialism.

In the 40 years of reform and opening-up toward a more rational micro-economic structure, the proportion of output of state-owned enterprises shows a declining trend. Over the past decade, on one hand, the operational efficiency of state-owned enterprises has tended to be low as compared to other ownership enterprises; on the other hand, the asset–liability ratio of state-owned enterprises has risen against the trend, and still remains high under the recent national policy of “deleveraging.” The paper aims to discuss this issue.

This indicates that the inefficiency of state-owned enterprises that once hindered China’s economic development has not yet been fundamentally solved, and the task of deepening state-owned enterprises reform is still arduous.

In the process of establishing China’s modern economic system, there will be some “new state-owned enterprises” growing into world-class ones. This requires more effort in enhancing the capacity for independent innovation, improving the level of organizational control, expanding international market opportunities and fulfilling enterprise social responsibilities with high standards.

It is more appropriate for China to have a micro-economic structure in which public ownership predominates and diverse forms of ownership enjoy common prosperity and development.

Since the implementation of reform and opening up, China has made remarkable achievement in terms of economic reform and development. China’s path, as well as its experience, has simultaneously gained worldwide concerns. Developing the market economy against the backdrop of socialism brings conclusions from China’s achievement, deepens knowledge of China’s pathway and builds a socialist political economy with Chinese characteristics. That is the way to realise a basic socialist system, especially with regards to the organic integration of public ownership and market economy. This combination determines the future of socialism with Chinese characteristics and the success or failure of economic restructuring. Therefore, it requires consideration and in-depth study. The paper aims to discuss these issues.

The goal of economic restructuring is to establish and develop the socialist market economy. Its main content can be summarised in two parts. The first is the relationship between plan and market or government and market. The second is compatibility or combination of public ownership and market economy. The former is one of the superficial problems, relevant to resource allocation method or economic operation mechanism. The latter stems from deep-rooted problems, represented by ownership or the underlying economic system. These two work together to form the organic integrity of socialist market economy where both similarities and contrasts coexist.

The shared ideal of socialism with Chinese characteristics and the lofty goals of communism will then become empty words. In this sense we can say that, whether we can realise the unity and opposition between public ownership and market economy and better integrate advantages of socialist system with strengths of market economy, will to a large extent determine the future and destiny of the socialist market economy.

As previously mentioned, the relationship between plan and market or government and market are part of resource allocation methods or economic operation mechanism. Compatibility and combination, however, with public ownership and market economy are part of an ownership or basic economic system. Science reveals the nature and developmental law of the socialist market economy. An in-depth study must be conducted on the relationship between public ownership and market economy.

The proportional distribution of social labor is a general law governing human social and economic activities, also a law discovered by Marxist political economy that governs socialist economic operations and development based on public ownership.

This law draws on Marx's vision of future society, but how it is adopted is not only subject to the way a country's economy interacts but also to the influence of a country's historical and cultural traditions. Generations of the CPC and state leaders since Mao Zedong have made unremitting explorations for its application.

As socialism with Chinese characteristics enters a new era, the Party Central Committee with Comrade Xi Jinping at the core adheres to the standpoints, viewpoints and methods of Marxist political economy, draws from the splendid Chinese traditional culture that values integrity, peace and harmony of all, builds on the reality of China's socialist market economy development, has summed up the features of socialist economy development with Chinese characteristics, and has proposed the five-sphere integrated plan, the four-pronged comprehensive strategy.

The new development concept of “innovation, coordination, green development, openness, and sharing” for socialism with Chinese characteristics, all reflecting the Party's deepening understanding of coordinated development, the gradual formation of the general thought and policy methods of the country's economic regulations based on the coordination and balance of economic structure, the continuous explorations to open a new chapter of contemporary Marxist political economy, China's experience and wisdom, and the Party's confidence in the theories it applies, the road it takes, its system and its culture. The coordination and balance of economic structure are a major theoretical innovation of socialist political economy with Chinese characteristics in the new era.

The purpose of this paper is to analyze the characteristics and dynamics of the entrepreneurship ecosystem in the ICT sector in Qatar.

The methodology of this research is based on a literature review and information collected through semistructured interviews with the different stakeholders involved in the entrepreneurship ecosystem in the ICT sector in Qatar.

The results show that two opposite forces shape the entrepreneurship ecosystem in the ICT sector in Qatar. On one hand, the strong determination and intervention of the Qatari government to diversify the economy by creating a vibrant ecosystem in the ICT sector. On the other hand, entrepreneurs in this sector are still facing some barriers and difficulties, and those issues are tightly related to Qatar's economic characteristics as a rentier state whose economy is driven by hydrocarbon resources.

These findings contribute to the clarification and critical analysis of the current dynamics of the entrepreneurship ecosystem in the ICT sector in Qatar, which would have several policy implications.

This paper aims to determine the status of the socialist market economy through a logical analysis of the evolution of economic systems in human society.

This paper presents an analysis of uncertainty and the functions performed by different economic systems in managing and resolving it, thereby explaining the evolutionary rationale behind economic system evolution.

Firstly, the socialist market economy empowers the market to play a decisive role in resource allocation, which serves as the foundation for activating individuals' motivation to engage in economic activities. Secondly, the socialist market economy adheres to the basic socialist economic system, which is the basis for the socialist market economy to stabilize the economy and society or to address the risk of economic uncertainty that may trigger macro-level inconsistencies in economic operations. Thirdly, the advantages of a socialist market economy in adapting to economic uncertainties do not arise spontaneously and must be exerted through continuous improvement of the socialist market economy.

The innovation of this paper lies in introducing uncertainty to clarify the logic behind the evolution of economic systems in human society and explaining the typical significance of the socialist market economy and its advantages in accommodating and resolving uncertainty.

The socialist political economy with Chinese characteristics reflects the characteristics of ushering into a new era, and the research object thereof shifts to productive forces. Emancipating and developing productive forces and achieving common prosperity become the main theme. Wealth supersedes value as the fundamental category of economic analysis.

The theoretical system of socialist political economy with Chinese characteristics cannot proceed from transcendental theories but is problem-oriented. Leading problems involve development stages and research-level problems.

The economic operation analysis is subject to the goal of optimal allocation of resources with micro-level analysis focused on efficiency and macro-level analysis focused on economic growth and macroeconomic stability also known as economic security. The economic development analysis explores the laws of development and related development concepts in compliance with laws of productive forces. The new development concepts i.e. the innovative coordinated green open and shared development drive the innovation of development theory in political economy.

Accordingly, the political economy cannot study the system only, but also needs to study the problems of economic operation and economic development. Therefore, the theoretical system of the political economy tends to encompass three major parts, namely economic system, economic operation and economic development (including foreign economy). The basic economic system analysis needs to understand the relationship between public ownership and non-public ownership, between distribution according to work and factor payments, and between socialism and market economy from the perspective of coexistence theory, thus transforming institutional advantage into governance advantage.