Dual-Circulation

The concept of building the new development pattern of "dual-circulation" featured by the mutual promotion between the domestic and the international economic development was firstly put forward by the CPC Central Committee in May 2020 and reaffirmed later the same year by the 14^th Five-Year Plan as a critical strategy of China, with focus primarily on the domestic circulation, to achieve a higher-level economic development in response to the remarkable changes both at home and abroad. As two indispensable parts of the "dual-circulation" development pattern, boosting the domestic circulation calls for primarily expanding the domestic demand, in particular consumer demand, so as to promote the gradual transition of China's development mode from export-oriented to internal circulation-oriented, while furthering the mutual promotion between the domestic and international circulations calls for consolidating China's advantages of participating in the international circulation and promoting high-level opening up, so as to improve the quality and level of the external international circulation under the new situation.