Ensuring both “development and security” is the historical thread of the national governance of the Communist Party of China (CPC). Starting from this thread, based on historical materials, this paper investigates the historical experience and governing logic formed by the CPC in this process, and extracts its unique advantages from the perspective of Marxism, which is of great significance to study the CPC’s positioning and role in financial governing and even the national governance system. However, the existing research lacks the combing and analysis of the CPC’s financial governance practice and logic, and there is little overall and systematic understanding of the CPC’s role in coordinating the relationship between the government and the market. By combing the historical sources of the CPC’s centennial financial governance, this paper examines the unique role and advantages of the CPC in this process, and makes an academic study of this historical experience and governing logic from the perspective of Marxism, forming a ternary relationship framework of the CPC, the government and the market. The research finds that: (1) Financial governance under the leadership of the CPC not only realizes the transformation of financial support for the real economy from individualization and decentralization to collectivization, scale and even integration, but also deepens the recognition of aspect of security from party security, sovereign security to economic security and even overall national security. (2) The deepening of the understanding of “development and security” stems from the advantages of strategic stability, power regulation capability and political mobilization brought by the CPC’s fundamental ideological orientation, strategic goal orientation and core interest orientation. This makes the CPC’s leadership a long-term strategic leadership on the basis of clarifying the power boundary with the two main bodies of the government and the market, forming a unique governance advantage. (3) The unique governance advantage of the CPC promotes the improvement of national governance efficiency through two power paths. That is, the CPC’s strategic stability advantage ensures the continuity and stability of the government’s decision-making, and the advantages of power regulation ability and political mobilization ability enable the CPC to play a role in guiding and balancing interests between the government and the market. The research contribution mainly lies in three aspects: First, this paper analyzes the CPC’s unique advantages from the perspective of financial governance, which is a further enrichment of the existing research. Second, taking “development and security” as the thread, this paper forms the historical context and analytical framework of the CPC’s centennial financial governance history, which fills the gap of the existing research. Third, this paper further develops the ternary governance framework of the CPC, the government and the market, and expands the existing governing logic.
Unique Advantages of the Communist Party of China in Ensuring both “Development and Security”: Based on the Experience and Logic of the CPC’s Centennial Financial Governance
Journal of Finance and Economics Vol. 47, Issue 11, pp. 4 - 19 (2021) DOI:10.16538/j.cnki.jfe.20210917.201
Cite this article
Lang Xuhua, Mao Peihua. Unique Advantages of the Communist Party of China in Ensuring both “Development and Security”: Based on the Experience and Logic of the CPC’s Centennial Financial Governance[J]. Journal of Finance and Economics, 2021, 47(11): 4-19.