The basic socialist economic system in the new era constitutes a scientific synthesis of the practical experience in socialism with Chinese characteristics, representing groundbreaking anchored in the people-centered paradigm. It realizes the internal unity of public and non-public ownership, production and distribution machanisms, socialist principles and market economy dynamics. The system embodies the axiological dimensions of Chinese modernization, including common prosperity, participatory governamce, and holistic human development. The development of socialist political economy with Chinese characteristics in the new era requires us to adhere to and deepen our scientific understanding of the theoretical connotations of the basic economic system, deeply interpret the people-centric orientation, livelihood-focused praxis, and the scientific method of integrating theory with practice, fully revealing the high degree of unity between the theoretical logic, historical logic, and practical logic based on the Marxist position, viewpoint, and method, to continuously promote the positive interaction between the theory of socialist economy with Chinese characteristics and economic practice.