(Focus on Boao) Boao's new vision: economists call for "double cycle" to be "internal and external"

　　China News Service, Boao, April 21st, title: Boao New Vision: Economists call for "double cycle" to be "internal and external"

　　Author Zhang Su Bo Wenwen

　　How does China "build a new development pattern with the domestic big cycle as the main body and mutual promotion of the domestic and international double cycles", how to achieve "internal and external development"?

Some economists made suggestions for this during the 2021 Boao Forum for Asia Annual Conference.

Speaking of domestic: system reform is still lagging behind

On April 21, the 2021 Boao Forum for Asia Annual Conference held a sub-forum on the "Dual Cycle of China's New Development Pattern".

The picture shows Zeng Peiyan, Vice Chairman of the Advisory Committee of the Boao Forum for Asia and former Vice Premier of the State Council of China, giving a keynote speech via video connection.

Photo by China News Agency reporter Luo Yunfei

　　"Building a new development pattern is an inevitable choice for China to adapt to the new stage of development, and it is an active decision-making based on the time and situation." Zeng Peiyan, vice chairman of the Boao Forum for Asia Advisory Committee, said during an online meeting on the 21st.

When analyzing the key to the new development pattern, he first mentioned "to expand domestic demand as a strategic basis."

　　Bokner, the global chairman of the Boston Consulting Group, feels the same way.

He said that facing more opportunities and greater responsibilities, it is very important for China to change its economic model from export-oriented to "internal circulation" as the main body.

China has a huge domestic demand market as well as a huge R&D base for enterprises.

　　"The important connotation of the new development pattern is to further expand domestic demand, expand domestic consumption capacity and market scale, but reforms in this area are relatively lagging." Peng Sen, chairman of the China Economic System Reform Research Association, reminded that income distribution, social security and other fields are urgently needed. reform.

　　In his view, the biggest challenge in accelerating the construction of a new "dual cycle" development pattern lies in the system and mechanism. "If we can establish a socialist market economy system with Chinese characteristics, whether it is to accelerate the construction of a new development pattern or to compete in the world All can be invincible."

On the International: Call for the creation of a level playing field

Zhu Min (right), Dean of the National Institute of Finance of Tsinghua University, attended and participated in the discussion.

Photo by China News Agency reporter Hou Yu

　　Zhu Min, dean of the National Institute of Finance of Tsinghua University, said that the "inner circulation" is very important, "but this must be supported by the'outer circulation'".

He elaborated from three aspects.

　　First, it is conducive to promoting circular communication and exchanging needs.

Zhu Min, for example, said that China needs to learn or import technology from all over the world, and the "outer loop" may play a role.

　　The second is conducive to the promotion of full competition.

With China's annual per capita GDP (gross domestic product) exceeding 10,000 U.S. dollars, the most fundamental force driving labor development is competition.

"External circulation" not only promotes Chinese enterprises to face the world, but also contributes to the rapid development of Chinese labor force.

　　The third is to determine China's tone and attitude towards world cooperation.

Zhu Min believes that China, which is already the world's second largest economy, has become more and more important in cooperation with the world. The "external cycle" means that China still integrates itself into a high-level, high-quality opening and development.

　　Bokner focuses on openness and emphasizes that this is not only related to China, but also has far-reaching significance to European and American countries.

"China's continuous opening up is a great opportunity for us." He also called on all countries to create a level playing field and reminded other major economies not to "retaliate" cautiously.

Call for "consideration": How can the internal and external circulation not be "decoupled"?

　　In the eyes of economists, the "double cycle" focuses on "considering" and "linkage."

Liu Liange, chairman of the Bank of China, said that the "dual cycle" must not be turned into a single cycle, and the internal and external cycles cannot be "decoupled".

He mentioned that finance and technology are the driving forces of the "dual cycle" development strategy.

Although Liu Liange's financial industry still has shortcomings in supporting enterprises to "go global," he is speeding up system construction to support higher-quality development and openness.

　　Zeng Peiyan believes that as the internal circulation becomes smoother, the super-large-scale market potential will continue to be released, which will also support and drive the external circulation and promote the recovery and prosperity of the global economy.

　　"We must deepen reform and expand opening up, attach importance to the organic connection from the'inner circulation' to the'outer circulation', pay special attention to the expansion of external markets, and improve external relations." Wu Xiaoqiu said that when we find problems and face challenges, we will also find a way to solve them.

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