The Guangming Daily (August 12) published an interesting article captioned 'Adhering to the
Party's Leadership is the Fundamental Guarantee to Standardize and Guide the Healthy
Development of Capital', which asserted that "Capital is an important factor of production in
the socialist market economy and has made great contributions to the prosperity of the socialist
market economy. However, due to the natural tendency of capital to expand disorderly, it will
cause serious social and economic problems, so capital must be regulated and guided. Under
the conditions of the socialist market economy, to regulate and guide the healthy development
of capital, we must adhere to the leadership of the party, give full play to the party's
organizational, theoretical and institutional advantages, fully guide capital to play a positive
role, and restrain the negative role of blind expansion of capital, so that the Capital development
better serves national strategic needs and social development needs". It quoted Karl Marx's Das
Kapital and said that though "in the process of the development of the market economy, the
phenomenon of disorderly expansion of capital has also appeared in some fields, resulting in
negative consequences such as hidden financial risks, widening gaps in income and wealth
distribution, ecological environment damage, and monopoly", it emphasised that "the
leadership of the Communist Party of China is the most essential feature of socialism with
Chinese characteristics and the greatest advantage of the socialist system with Chinese
characteristics. Under the conditions of the socialist market economy, the leadership of the
party plays a fundamental role in regulating and guiding the healthy development of capital".
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