China News Service, Beijing, September 29th,

Question : How does China's economy build a "dual cycle"?

  Reporter Zuo Yukun

  "Nurture new opportunities in a crisis, and open up a new situation in a changing situation." In 2020, the Central Committee of the Communist Party of China proposed for the first time "to build a new development pattern with the domestic cycle as the main body and the domestic and international dual cycles to promote each other."

  This is a strategic decision based on changes in China's development stage, environment and conditions. It is a systemic and deep-level change that concerns the overall situation. How to accurately grasp and actively promote it from a high level of the overall situation?

Based on oneself, smooth domestic circulation

  "The key to building a new development pattern is the unimpeded economic cycle." General Secretary Xi Jinping emphasized, "Only by standing on one's own footing and unblocking the domestic cycle can we allow the international situation to change, and always be full of vigor to survive and develop."

  He emphasized, "To build a new development pattern, we must adhere to the strategic basis of expanding domestic demand, so that production, distribution, circulation, and consumption rely more on the domestic market to form a virtuous circle of the national economy."

  34.8% - this is China's dependence on foreign trade in the first quarter of 2022, which reached 67% more than a decade ago; 96.3% - this is the contribution rate of domestic demand to my country's economic growth in the first quarter of 2022, the data has risen , the super-large-scale market advantages continue to appear.

  Between one rise and one fall, it shows the kinetic energy change of China's economy from the outside to the inside.

At present, the century-old changes and the epidemic of the century are intertwined, economic globalization is facing adverse currents, and the uncertainty of the world economic recovery is intensifying. How can we expand domestic demand?

It is necessary to focus on cultivating a complete domestic demand system, fully stimulate the potential of domestic demand, stabilize consumption and investment, and further smooth the supply and demand cycle.

  China has become the world's second largest consumer market. Although the market is large, it is "big but not strong": there are hidden barriers to the free flow of commodity factors, the construction of rules and standard systems needs to be further unified, and the phenomenon of local protection still exists, etc.

  When Xi Jinping presided over the 23rd meeting of the Central Committee for Comprehensively Deepening Reforms, he emphasized that to build a new development pattern, it is urgent to speed up the construction of an efficient, standardized, fair competition, and fully open national unified large market, establish a unified national market system and rules, and promote commodity Factor resources flow smoothly on a larger scale.

  The revision of the Anti-Monopoly Law and the Anti-Unfair Competition Law has been accelerated, and the fair competition system and mechanism have been gradually improved; the market-based allocation reform of factors has been further advanced, and the channels for the flow of labor and talents have been further smoothed; the first plan for the construction of a modern circulation system has been announced... "hard facilities" items After landing, the "soft environment" has been improved step by step, continuing to escort the smooth circulation of the national economy and the formation of a strong domestic market.

Looking at the world, promoting domestic and international dual circulation

  Building a new development pattern is a strategic choice to keep pace with the times and improve my country's economic development level, as well as a strategic choice to shape my country's new advantages in international economic cooperation and competition.

  However, in order to build a new development pattern, it is not about building up behind closed doors, but continuing to expand and open up.

  "The new development pattern is by no means a closed domestic cycle, but an open domestic and international dual cycle." General Secretary Xi Jinping emphasized many times, "With the domestic cycle as the main body, it is by no means closed and closed, but by giving full play to domestic demand. potential, make the domestic market and the international market better connected, make better use of both domestic and international markets and resources, and achieve stronger and sustainable development." It will only get bigger and bigger.”

  Play a good first move and play a good active battle.

"Accelerating the construction of a new development pattern is to enhance our survivability, competitiveness, development ability, and sustainability in all kinds of predictable and unforeseeable storms and turbulent waves."

  In the past decade, the proportion of China's total economic output in the global economy has risen from 11.4% to more than 18%, and its contribution to world economic growth has generally remained at around 30%; the proportion of manufacturing added value in the world has increased from 22.5% to nearly 30% , the carbon dioxide emissions per unit of GDP has dropped by about 34%.

  China not only "sells the world", but also "buys the world" and "benefits the world", making the Chinese market a world market, a shared market, and a market for everyone, injecting more positive energy into the international community.

  Today, a series of international economic and trade events such as the Canton Fair, the Consumer Expo, the Service Trade Fair, and the China International Import Expo have formed a strong matrix, building an international platform for countries to share opportunities and expand exchanges; 21 pilot free trade zones and Hainan Free Trade Port, A pilot pattern covering east, west, north, south, and middle has been formed.

  China's economic and trade "circle of friends" is also growing.

China's "circle of friends" for the joint construction of the "Belt and Road" has expanded to 149 countries and 32 international organizations; 19 free trade agreements have been signed with 26 countries and regions...

  Based on itself, continue to release the potential of domestic demand; adhere to opening up and deeply integrate into the global economy.

The world's second largest economy, China, has taken new steps to build a new development pattern and embarked on a new journey of high-quality development.