This is just a reference to and confirmation of Deng's position and changes versus those of Mao and then the Gang of Four when Deng's faction won out. The central focus of Deng was in recognizing China's economic instability (and its impact on the people) and coming to the conclusion that this was due to China being in a state of under-development of its productive forces. After the implementation of Deng's reforms, China's economy continued to improve as it had before but in a less boom-and-bust fashion.

Re: class struggle itself, the position here is not that it is not important, but in that Dengism did not see it as the primary contradiction within China (not the world - that is/was imperialist struggle), instead saying it was the underdeveloped productive forces vs. the material needs of the people. This is just a Marxist phrasing for "using our analytical method, this is the most important thing to focus on, it colors all other contradictions more than they color it". Dengism still adhered to the concept and importance of class struggle itself and all schools teach it.