BEIJING - Xi Jinping Thought on Socialist Economy with Chinese Characteristics for a New Era has been advancing with the times, steering the Chinese economy ahead amid a changing world full of uncertainties.

Xi's economic thought, unveiled at the Central Economic Work Conference held in December 2017, is mainly based on the new development philosophy put forward by Xi in 2015 and features innovative, coordinated, green, open and shared development.

Regarded as the "latest fruit" of socialist political economy with Chinese characteristics, the thought reflects the leadership's growing understanding of the laws of economic and social development and makes clear the key principles to be upheld in promoting economic development for a new era.