Socialist market economy
The socialist market economy (SME) is the economic system and model of economic development employed in the People's Republic of China. The system is based on the predominance of public ownership and state-owned enterprises within a market economy. The term "socialist market economy" was first used during the 14th National Congress of the Communist Party of China in 1992 to describe the goal of China's economic reforms. Originating in the Chinese economic reforms initiated in 1978 that integrated China into the global market economy, the socialist market economy represents a preliminary or "primary stage" of developing socialism. Despite this, many Western commentators have described the system as a form of state capitalism.
Ideology of the Communist Party of China
The guiding ideology of Marxism, the common ideal of the socialism with Chinese characteristics, the national spirit with patriotism as the core, the spirit of the times with reform and innovation as the core, and the socialist concept of honour and disgrace constitute the basic contents of the socialist core values system. We should persist in integrating the socialist core values system into the entire process of national education and the building of a spiritual civilization and having it run through the various aspect of the modernization drive.