Under the leadership of the Communist Party of China, China's economic system has given full play to the advantage of concentrating on major events and effectively solved a series of major problems in economic and social development. The socialist economic system with Chinese characteristics not only focuses on the decisive role of the market in resource allocation, but also gives better play to the role of the government, achieving rapid economic development and long-term social stability. The Chinese government has always adhered to the people-centered development ideology, continuously promoted reform and opening up, guaranteed and improved people's livelihood, promoted social fairness and justice, and ensured that people enjoy a wide range of rights and freedoms. China's practice has proved that the path of socialism with Chinese characteristics is the correct path in line with China's national conditions and has brought real well-being to the Chinese people.