The Multi-level Synergy of Institutions,Technology,and Culture Collaboratively Builds a High-standard Socialist Market Economic System
Chinese modernization requires the construction of a high-standard socialist market economic system.The basic requirement is that the market mechanism should be"Lift restrictions on the market while ensuring effective regulation"as required by the Third Plenary Session of the 20th CPC Central Committee."Lift restrictions on the market"reflects the market's decisive role in resource allocation;"ensuring effective regulation"reflects the government's better performance,which is the criterion for a high-standard socialist market economy.From the perspective of the basic institutions of market economy,"lift restrictions on the market"is reflected in the improvement of property rights protection and market access,which requires the allocation of resources according to market rules,market prices,and market competition,and is reflected in consumer sovereignty,equal opportunities,free competition,enterprise autonomy,and the free flow of resources;"ensuring effective regulation"is reflected in the improvement of market order and social credit,involving the effective management of the market,with the goal of being dynamic without chaos and regulated without stagnation.To let the market be dynamic and to regulate effectively,it is not only necessary to deepen reforms at the institutional level but also to promote the deep integration of the market economy and the digital economy,providing modern technological means and platforms for"lift restrictions on the market"and"ensuring effective regulation".In addition to the synergy of institutions and technology,it is also necessary to improve the level of market civilization through the construction of market culture,which is to establish informal institutional arrangements consistent with formal institutional rules,and the effective implementation of formal institutions depends on informal institutional rules to reduce institutional costs.It can basically be summarized as the level of market civilization reflected by market culture.This market civilization can automatically ensure the smooth progress of market transactions,reduce the costs of contract negotiation,execution,and supervision,overcome commercial risks caused by incomplete information and incomplete contracts,and avoid opportunistic behavior.In summary,institutions,technology,and culture form a synergistic force at multiple levels to promote the construction of a high-standard socialist market economy system,reflecting the modernization level of the national governance system and governance capacity.
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