China News Service, Beijing, March 21 (Reporter Chen Su) China has embarked on a new journey of modernization. In the new stage of development, how can China's economy "go up to a higher level"?

At the 2021 China Development Forum held from the 20th to the 22nd, Yang Weimin, deputy director of the Economic Committee of the National Committee of the Chinese People's Political Consultative Conference and former deputy director of the Central Finance Office, put forward five policy recommendations.

  Faced with the uncertain international environment and changes in the domestic economic situation, China proposes to build a new development pattern in which the domestic cycle is the main body and the domestic and international double cycles promote each other, and to lead the "14th Five-Year Plan" (2021-2025). Years) and even a longer period of social and economic development.

Yang Weimin said that China has entered a new journey of modernization, and the basic logic of the "14th Five-Year Plan" is to base itself on a new development stage, implement new development concepts, and build a new development pattern.

  Regarding how to build a new development pattern, Yang Weimin said that we should start from the problem and do a good job in the existing problems.

He made five suggestions.

  The first is to deepen the supply-side structural reforms and build a more resilient supply pattern.

Building a new development pattern requires expanding domestic demand, but not just expanding domestic demand.

There is still a need to deepen and continue to promote supply-side structural reforms.

At present, there are relatively few consumer industries in China, and it is difficult to meet consumer demand.

It is necessary to further expand the high-tech industry, consumer goods industry, and cultural tourism industry on the supply side.

  The second is to accelerate technological innovation and build a self-reliant and self-reliant technological pattern.

In an international environment full of uncertainties, some technologies must be self-reliant, overcome some "stuck neck" technologies, and strengthen the connection between the industrial chain and the innovation chain.

Persist in expanding a high-level opening to the outside world, and better integrate domestic innovation with imported technology and re-creation.

  The third is to expand household consumption and build a domestic demand pattern with household consumption as the mainstay.

Since the international financial crisis, the proportion of external demand has fallen sharply, and economic development has increasingly relied on domestic demand.

To build a complete domestic demand system, the strategic focus must be placed on expanding household consumption.

  The fourth is to steadily promote common prosperity and build an income distribution pattern with residents' income as the mainstay.

The distribution pattern determines the pattern of domestic demand. The guiding ideology for promoting development should no longer be GDP (Gross Domestic Product) as the core, but should focus on increasing the income of residents, otherwise it will be difficult to change the demand pattern based on investment and government consumption.

  Fifth, we will continue to expand high-level opening up and build an open pattern in which domestic and international "dual cycles" promote each other.

China's economy has been deeply integrated into the global economy. The construction of a new development pattern is to enhance the new advantages of participating in international cooperation and competition, and attach importance to improving the efficiency and level of domestic large-scale circulation through international circulation.

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