关键词: 资本三级循环理论, 基础设施建设, 物质基础设施, 社会基础设施

Abstract: Infrastructure, in its essence, serves as the general conditions of production for economic activities, providing “essential use values” for largescale socialized production. Infrastructure development sustains capital circulation and accumulation across multiple dimensions, fostering specific forms of capital, enhancing capitals geographical mobility, accelerating capital turnover rates, maintaining and advancing surplus value production, and mitigating contradictions of capital overaccumulation. The contradictions and crises inherent in infrastructure development under capitalist modes of production stem from their distinctive formation mechanisms and provision methods. Socialism with Chinese characteristics has shaped a unique infrastructure development model with Chinese characteristics, achieving remarkable accomplishments that fundamentally underpinned Chinas development miracle that has lasted for over four decades, while also accumulating systemic contradictions and risks. In the new development stage, it is imperative to reform infrastructure development models through a problemoriented approach, vigorously advancing both physical and social infrastructure toward highquality development. This entails eliminating blockages in capital circulation, ensuring unimpeded capital flows, resolving contradictions and risks arising from infrastructure development processes, and thus advancing the Chinese path to modernization.

Key words: three-circuit theory of capital, infrastructure construction, physical infrastructure, social infrastructure