The discourse system of socialist political economy with Chinese characteristics consists of policy—institutional discourse and academic—theoretical discourse, the former discourse is centrally embodied in the line, guidance and policies revealed by all kinds of documents and reports of the Party and Government, the latter is embodied in academic research results. Although the two discourses have intersection, there is significant typological difference. The construction and completion of the discourse system of socialist political economy with Chinese characteristics require for the interaction between the two discourses and creative transformation between them. The policy—institutional discourse is produced for the sake of solving practical issues of socialist economic system, with correlation to the specific historical configurations and aiming to provide direct direction and line guidance for institutional change. However, the academic—theoretical discourse has some universality, it starts with Marxism economics paradigm, depends on the theoretical terms of Marxism economics and provides general illustration for explanation and systematization of policy—institution discourse.