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The purpose of this paper is to promote the theoretical innovation of socialist economics with Chinese characteristics in these areas.

We must “excavate new materials, discover new problems, propose new ideas, and construct new theories from the practice of China’s reform and development.”

Giving full play to the government’s role in realizing optimal allocation of resources required for the public economy to better exert its control, influence and guidance, and at least assume the following three responsibilities. The first is to iron out the economic cycle. The second is to lead the industry to upgrade. The third is to ensure national economic security.

Some deep-rooted issues still need to be further studied in order to establish the scientific and practical nature of the socialist economics with Chinese characteristics. For instance, why is the theory of a socialist economy with Chinese characteristics summarized from the development practice in China a scientific theory?

The purpose of this paper is based on China’s economic fundamentals. Factor input, structural optimization and institutional reform, which determine the fundamentals of China's economic development, will actively prop up long-term, sustained and stable growth of the Chinese economy and keep China's potential economic growth rate stabilized within a reasonable growth range in the long term.

The fundamentals of economic development of a country are the basic situation of economic operation determined by the country's main factors and the long-term trend thereof, and they have such characteristics as stability, internality and persistence.

Stability refers to economic operation that remains relatively stable within a reasonable growth range at a certain stage of development, and this does not rule out exceptional economic fluctuations in certain years due to the impact of unexpected short-term factors. For instance, the fundamentals of the Chinese economy during the period after the reform and opening-up are characterized by a sustained high growth rate.

Internality refers to the intrinsic quantity and quality of all factors supporting the economic development of a country, especially the quantity and quality of the factors that play a decisive role in the economic development of a country at a specific stage. For instance, demographic dividend and capital formation have bolstered the high-speed growth of the Chinese economy since the reform and opening-up.

The aim of this paper is reviewing the discipline development course of the history of socialist political economy with Chinese characteristics and recognising the changes of its development and its historic mission in the new stage will be beneficial to the construction of socialist political economy with Chinese characteristics from the perspective of doctrinal history.

In this paper from the aspect of discipline formation and development, the history of China’s socialist political economy has experienced two stages: emergence and formation (the first stage) and steady development (the second stage). It has explored new research fields and improved the quality of research levels. However, the role of studying the history of socialist political economy with Chinese characteristics has not been fully played regarding satisfying the needs of constructing socialist political economy with Chinese characteristics.

In this study when the construction of socialist political economy with Chinese characteristics entered a new era, the study of the history of socialist political economy also entered a new stage, showing new features in terms of research objectives, principles, scale and methods.

Therefore, the research on the history of socialist political economy with Chinese characteristics should be highly emphasised, and the focus on serving the construction of socialist political economy with Chinese characteristics should be its historic mission and core task. Also, researchers should pay attention to changing ideas, laying a good foundation, highlighting key points, building platforms and broadening horizons.