On Calabi's extremal metric and properness

In this paper we extend recent breakthrough of Chen-Cheng \cite{CC1, CC2, CC3} on existence of constant scalar K\"ahler metric on a compact K\"ahler manifold to Calabi's extremal metric. Our argument follows \cite{CC3} and there are no new a prior estimates needed, but rather there are necessary modifications adapted to the extremal case. We prove that there exists an extremal metric with extremal vector $V$ if and only if the modified Mabuchi energy is proper, modulo the action the subgroup in the identity component of automorphism group which commutes with the flow of $V$. We introduce two essentially equivalent notions, called \emph{reductive properness} and \emph{reduced properness}. We observe that one can test reductive properness/reduced properness only for invariant metrics. We prove that existence of an extremal metric is equivalent to reductive properness/reduced properness of the modified Mabuchi energy.