"Socialism with Chinese characteristics" refers to the adaptation of socialist principles to fit the unique historical, cultural, and economic context of China. It emphasizes the importance of a strong central government while allowing for market-oriented reforms and private enterprise. This approach aims to combine the benefits of socialism, such as social equity, with the efficiency of capitalism. Under this model, the Chinese Communist Party maintains political control while promoting economic growth through state-owned enterprises and private businesses. The goal is to achieve modernization and improve living standards, all while ensuring that the party remains the leading force in society.