China pushes 'dual circulation' to power growth in new development stage

BEIJING - China is pushing a "dual circulation" development pattern to sustain growth in the coming years, building up strength in both domestic demand and foreign trade to meet challenges in a new development stage.

The "dual circulation" development paradigm, in which domestic and overseas markets reinforce each other, with the domestic market as the mainstay, was mentioned as a guiding thought in a blueprint for China's development in the next five to 15 years, which is under review at the "two sessions."

"We will advance the building of a strong domestic market and a strong trading nation in a concerted way, based on the domestic circulation," said the draft outline of the 14th Five-Year Plan (2021-2025) for national economic and social development and the long-range objectives through the year 2035.

First put forward at a meeting of the Political Bureau of the Central Committee of the Communist Party of China in May last year, the idea is expected to guide China through the post-COVID-19 recovery and help it better connect with the world.