Purpose Central to this paper, Western international political economy cannot well explain China’s peaceful development and its political and economic ties with the outside world, and it is even more difficult to reflect the characteristics of the times that the great changes unseen in a century and socialism with Chinese characteristics have entered into a new era, which are synchronously intertwined and mutually agitated. Constructing China’s international political economy not only emphasizes the Chinese perspective, Chinese discourse and Chinese narrative but also examines the development trend and major problems facing the world from the height of world history and applies the position, viewpoints and methods of Marxist historical materialism to observe the times, interpret the times and lead the times. Design/methodology/approach Looking back at the development of China’s international political economy, from introducing Western international political economy to increasingly emphasizing the Chinese perspective, Chinese discourse and Chinese narrative, we analyze the distinctive features of China’s international political economy from Western international political economy. Findings The thought of community with a shared future for mankind is the latest development and concentrated embodiment of Marxist thought on world history in the 21st century, which gives China’s international political economy a distinctive epochal, scientific and practical character, stipulates the research stance and fundamental purpose, establishes the research theme and main line and expands the research space for the construction of Chinese international political economy. Originality/value The construction of China’s international political economy is not only to create a “Chinese school” of international relations but more importantly to construct a discourse and academic system of China’s international political economy that can understand and grasp the changes in the world, the times and history, providing academic support for in-depth thinking and answering the question of “What is wrong with the world? What should we do?” and contributing Chinese wisdom.
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