An article in Caixin on September 5, said the idea of 'dual circulation' first came up at a Politburo meeting May 14 presided over by Xi Jinping. At the meeting, the nation was urged to “fully bring out the advantage of China’s super-large market scale and the potential of domestic demand to establish a new development pattern featuring domestic and international dual circulations that complement each other.” At another Politburo meeting in July, Xi Jinping said China should speed up its “dual circulation” growth model with a focus on expanding local output while drawing in foreign investment and stabilizing trade. A meeting of the central committee for deepening overall reform on September 1 with Xi presiding, again emphasised that accelerating the establishment of a new development pattern featuring dual circulation is a systematic deep-level reform concerning the overall situation of the country. No details have, however, been given on the specific methods of execution. Top officials in Beijing are drafting the 14th five-year plan, which will set out key economic and political goals for 2021–2025. The dual circulation strategy is widely expected to become a key priority in the five-year plan, which is expected to be discussed and endorsed by top leaders at the CCP CC's plenum in October. Details on the dual circulation strategy, Caixin said, will not be available until the new five-year plan is released during the annual parliament session in early 2021.

Subscribe to Newswire | Site Map | Email Us
Centre for China Analysis and Strategy, A-50, Second Floor, Vasant Vihar, New Delhi-110057
Tel: 011 41017353