Accelerating the Construction of a New Development Pattern with the Domestic Circulation as the Mainstay and Mutual Promotion of Dual Circulation

Abstract

This study examines China’s new dual circulation development pattern, which requires the pursuit of upgraded development to emphasize domestic circulation as the mainstay, in line with expanding the domestic demand. Furthermore, dual circulation is regarded as the mutual promotion of domestic and international circulation, which aims for high quality in domestic and international circulation. The key to building this new development pattern is an unimpeded economic circulation. Accordingly, this study identifies five essential considerations for China to accelerate the construction of the new development pattern, with domestic circulation as its mainstay. This is because a deep understanding of the Chinese government’s policy objectives is required to guide the efforts toward modernization effectively.