以经济建设为中心，坚持四项基本原则（1）社会主义道路（2）党的领导（3）人民民主专政（4）马列主义毛泽东思想、坚持改革开放
the central task refers to economic construction and two basic points are the four cardinal¹ principles - adherence² to the socialist³ road, to Communist Party leadership, to the people's democratic dictatorship and to Marxism-Leninism and Mao Zedong Thought - and persisting in reform and opening.

改革是"社会主义制度的自我完善和自我发展"。
Reform is "the self-perfection and self-development of the socialist system."

我们辨别的标准是看这样做是否有利于发展社会主义的生产力，是否有利于增强社会主义国家的综合国力，是否有利于提高人民的生活水平。
The criterion for our judgement is whether the move facilitates the development of socialist productive forces, whether it helps increase the overall national strength of a socialist country, and whether it brings about better living standards.

社会主义的最终目标是解放生产力，消灭剥削，消除贫富两极分化，最终达到共同富裕。
The main goals of socialism are the liberation and development of productive forces, the elimination⁴ of exploitation and polarization between the rich and the poor and the final achievement of common prosperity.

要人们警惕右和"左"的影响，特别是"左"的根深蒂固的影响。
to warn people of the influence of both the Right and the "Left" deviations⁶, particularly of the deep-rooted "Left" influence.

中国要警惕右，但更要防"左"。
China needs to be vigilant⁷ against the Right deviation⁵, but primarily, it should guard against the "Left"deviation.

资本主义和社会主义并不是以计划经济和市场的多少来划分的。
Socialism and capitalism⁸ are not distinguished⁹ by the proportion of planned and market economy.

随着改革的深化，国家指令性计划的范围将会缩小，而市场调节的范围将会扩大。
As the reform further develops, the scope for mandatory¹⁰ state plans will be narrowed, while the scope for market forces will be enlarged.

初步建立社会主义计划商品经济新体制。
to establish at a preliminary level a new system of socialist planned commodity economy.
各尽所能，按劳/需分配。
from each according to his ability, to each according to his work/needs.

逐步实现工业、农业、国防和科学技术的现代化，把我国建设成为富强、民主、文明的社会主义国家。
to modernize¹¹ the country's industry, agriculture, national defence and science and technology step by step to turn China into a strong and prosperous socialist country with a high level of culture and democracy.

社会主义经济制度的基础是生产资料的社会主义公有制，即全民所有制和劳动群众集体所有制。
The basis of the socialist economic system is socialist public ownership of the means of production, namely, ownership by the whole people and collective ownership by the working people.

国有经济，即社会主义全民所有制经济，是国民经济中的主导力量。
The state economy is the sector¹² of socialist economy under ownership by the whole people; it is the leading force in the national economy.

国家保障国有经济的巩固和发展。
The state ensures the consolidation¹³ and growth of the state economy.

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