Abstract:

Building the “new development pattern” with domestic circulation as the mainstay and the mutual reinforcement of the domestic and international dual circulations is a major strategic decision in China’s new development stage. The historical logic of the economic evolution of China, the practical logic and the strategic choice based on the new development stage, and the theoretical logic based on the “two overall situations” together form the logical mechanism for a profound political-economic interpretation of the new development pattern. The key points in building the new development pattern lie in unblocking the key links of the national economic circulation and establishing the intrinsic mechanisms of their interactions. To establish the dominant position of the domestic circular economy, the key lies in further advancing the construction of a unified domestic market and enhancing the resilience of the industrial chain and supply chain. High-level opening-up is an important means to promote the mutual reinforcement of the domestic and international dual circulations, in order to achieve mutual benefits, win-win results, and security and order in an open world. The interconnection and mutual reinforcement of the domestic and international markets generate linkages in demand, innovation and regional development. At present, further deepening comprehensive reform and advancing high-standard institutional opening-up have become central to the mutual reinforcement of the domestic and international dual circulations.

Key words: new development pattern, national economic circulation, domestic economic cycle, domestic and international dual circulations, high-quality development