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China's “Dual-Circulation” Paradigm: Its Background and Philosophy of Development

In: Regional Economic Development in China in 2020

Author

Listed:
  • Jiuwen Sun

    (Renmin University)

Abstract

In May 2020, the Standing Committee of the Politburo of the CPC Central Committee first put forward the following requirement: “It is essential to deepen the supply-side structural reform and fully leverage the strengths of China's enormous market and domestic demand potential, establishing a new “dual-circulation” development paradigm with domestic and international circulations complementing each other.“ The 5th Plenary Session of the 19th Central Committee of the CPC incorporated the idea “accelerating the establishment of a new ‘dual-circulation’ development paradigm with domestic circulation as the mainstay and domestic and international circulations promoting each other” into the “Proposals of the CPC Central Committee on the Formulation of the 14th Five-Year Plan (2021–2025) for National Economic and Social Development and the Long-Range Objectives Through the Year 2035 (Vision 2035).“ These facts suggest that the “dual-circulation” paradigm is a major strategic arrangement that the CPC Central Committee has made to help the nation adapt to significant changes in internal and domestic environments and upgrade its opening-up endeavor. This chapter focuses on the development logic of the “dual-circulation” paradigm.

Suggested Citation

  • Jiuwen Sun, 2025. "China's “Dual-Circulation” Paradigm: Its Background and Philosophy of Development," Springer Books, in: Regional Economic Development in China in 2020, chapter 7, pages 173-195, Springer.
    • Handle: RePEc:spr:sprchp:978-981-95-3604-7_7
    DOI: 10.1007/978-981-95-3604-7_7
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