At the top of the image is the text 'Let a hundred flowers bloom - Let a hundred schools of thought contend' (百花齐放 - 百家争鸣), a striking reuse of the slogan from the 1956-1957 Double-Hundred Policy campaign that ended in the severe persecution of critical artists, intellectuals and Party members.
The text in the lower right corner of the image: 'Focus on rectification on the one hand, focus on prosperity on the other hand' (一手抓整顿 -  一手抓繁荣).