Finance is the core of modern economy and an important component of a country's core competitiveness. The development path of Chinese characteristic finance is an unprecedented innovation path, which has elevated our party's understanding of the essential laws and development path of financial work to a new height. General Secretary Xi Jinping pointed out that "the development path of Chinese characteristic finance not only follows the objective laws of modern financial development, but also has distinctive characteristics suitable for China's national conditions, and is fundamentally different from the Western financial model." To deeply study and implement the spirit of General Secretary Xi Jinping's important speech, it is necessary to further understand the theoretical transcendence and practical value of the development path of Chinese characteristic finance from the perspective of combining theory and practice, and enhance the theoretical and practical consciousness of accelerating the construction of a financial power. Finance is the lifeblood of the real economy. In history, the Western financial model has demonstrated outstanding performance in mobilizing financial resources, promoting value discovery, and driving economic growth, and has been regarded as a benchmark by some countries. But practice has proven that the Western financial model has significant drawbacks. Especially in recent years, some Western economies have fallen into a situation of weak growth, high inflation, hollowing out of industries, and frequent financial crises, exposing the shortcomings of the Western financial model and reflecting that the Western financial model is no longer able to meet the requirements of inclusive and sustainable development in today's era, requiring comprehensive and profound theoretical reflection. The development path of Chinese characteristic finance has been taken under the leadership of our Party, which is the most essential feature of the development path of Chinese characteristic finance and the greatest political and institutional advantage of China's financial development. Our party actively explores the laws of financial development in the new era using Marxist financial theory, and deeply promotes the great practical exploration of the "two combinations" in the financial field. The development path of Chinese characteristic finance is in sharp contrast to the Western financial model, demonstrating strong vitality and significant advantages. Adhere to putting the people at the center in terms of value orientation. Serving capital and the wealthy few is the essence of Western finance. On the contrary, the development path of Chinese characteristic finance adheres to the people-centered value orientation, promotes financial development for the people, continuously enhances the diversity, inclusiveness, and accessibility of financial services, and better protects the rights and interests of financial consumers; The promotion of financial development relies on the people, and the formulation of financial policies adheres to the principles of asking the people about politics, needs, and plans, promoting the mutual promotion and advancement of high-quality financial development and the high-quality life of the people; Promote the sharing of financial development achievements by the people, improve a modern financial system with high adaptability, competitiveness, and inclusiveness, focus on addressing regional disparities, urban-rural disparities, income disparities, and other issues, and solidly promote common prosperity. Adhering to the value orientation of putting the people at the center determines that the essence of China's finance is not a profit seeking tool for a few people, but a public product that serves the people. Adhere to the fundamental principle of serving the real economy. Finance is the lifeblood of the real economy, serving the real economy is the duty of finance, and it is also the fundamental measure to prevent financial risks. Marx conducted a dialectical analysis of the relationship between virtual capital and real capital under the capitalist mode of production in Capital, revealing the consequences of the detachment of capitalist financial development from the real economy. Finance can only achieve sustainable and healthy development by serving the real economy. The development path of Chinese characteristic finance adheres to the fundamental purpose of providing financial services to the real economy, and in macroeconomic regulation, creates a favorable monetary and financial environment for the development of the real economy from the aspects of quantity, structure, and price; In terms of resource allocation, we will focus on the five major areas of technology finance, green finance, inclusive finance, pension finance, and digital finance, and strengthen financial support for key areas and weak links; In terms of micro incentives, improving the compatibility between macroeconomic regulation and micro incentives can better promote a virtuous cycle of economy and finance. Adhere to scientific and steady governance. Marx's analysis of the cyclical crises in the capitalist credit system reveals the limitations of relying solely on free market regulation. The international financial crisis that erupted in 2008 also demonstrated that allowing capital to pursue profits will inevitably trigger a crisis. The development path of Chinese characteristic finance adheres to the combination of an efficient market and a proactive government, strengthens the centralized and unified leadership of the Party Central Committee over financial work, establishes the Central Financial Committee, and forms a scientific and efficient decision-making and leadership mechanism; Establish a dual pillar regulatory framework of monetary policy and macroprudential policy, and institutionalize the prevention of systemic risks; Comprehensively strengthen institutional supervision, behavioral supervision, functional supervision, penetrating supervision, and continuous supervision to effectively respond to the trend of complex financial formats and mixed operation. At the same time, actively participate in international financial governance and cooperation, and pragmatically carry out multilateral and bilateral monetary and financial cooperation. This not only eliminates the superstition of free markets, but also avoids excessive intervention in normal financial activities. Adhere to overall planning and coordination in development. The development path of Chinese characteristic finance focuses on balancing the relationships between development and security, efficiency and fairness, innovation and stability, openness and autonomy. Encourage financial innovation, promote high-quality financial development, and prevent disorderly expansion of capital to maintain the bottom line of preventing systemic risks; Both improving the efficiency of financial resource allocation and emphasizing the role of finance in promoting common prosperity; Expand financial openness while maintaining financial sovereignty and security; Wait. It is precisely by adhering to the systemic concept that China's financial development has maintained stable operation in a complex environment, avoiding the severe fluctuations caused by frequent crises in the Western financial system. Since the new era, the quality of financial development in China has continued to improve, fully demonstrating the feasibility and stability of the path of financial development with Chinese characteristics. The period of the 15th Five Year Plan is a crucial period for the basic realization of socialist modernization. To complete the strategic deployment of "accelerating the construction of a strong financial country", we must continue to explore in practice, so as to make the path of development of Chinese characteristic finance wider and wider. One is to explore the cultural genes of China's financial development, adhere to the cultivation of Chinese characteristic financial culture based on the excellent traditional Chinese culture of integrity, righteousness, and risk, and establish financial ethical norms that comply with international norms and also have the characteristics of excellent traditional Chinese culture. The second is to deeply summarize and extract the practical experience rooted in the complex governance context of China's super large market, such as the supply side structural reform of finance, the organic combination of policy finance and commercial finance, and innovate and develop the theory of Chinese characteristic financial development with universal explanatory power, and deepen the theoretical interpretation of the development path of Chinese characteristic finance. Thirdly, based on the national conditions of our country and focusing on the common challenges faced by humanity, we will systematically and deeply express and transform the rich connotations of the development path of Chinese characteristic finance, forming theoretical achievements that can reflect both Eastern wisdom and participate in global dialogue, and contribute Chinese wisdom to the reform of global financial governance. Author: Li Jianjun (Vice President of Central University of Finance and Economics); Li Juncheng (Associate Researcher at the Institute of Finance, Chinese Academy of Social Sciences)