Purpose As a major theoretical breakthrough of the Marxist political economy based on the practice of China's reform and opening up, the theory of socialist market economy constitutes an important part of the political economy of socialism with Chinese characteristics. The paper aims to discuss...

The Chinese economy has undergone three major phases: the 1978-97 period marked as the SOE-led economy, the 1998-2015 phase as the investment-driven economy, and the new normal economy since 2016. All three economies have been shaped by the government financial policies, defined as a set of...