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Domestic-international dual circulation (simplified Chinese: 国内国际双循环; traditional Chinese: 國內國際雙循環; pinyin: guónèi guójì shuāng xúnhuán) is a Chinese government strategy to reorient the country's economy by prioritizing domestic consumption ("internal" or "domestic circulation"), making the economy more self-reliant in key sectors, reducing dependence on foreign markets, while also remaining open to international trade and investment ("external" or "international circulation").[1][2][3]
The economic policy of dual circulation was first put forward on 14 May 2020 by the Politburo Standing Committee of the Chinese Communist Party (CCP)[4][5] and later revised by CCP General Secretary Xi Jinping to stress prioritizing "internal circulation".[6] Dual circulation involves making the domestic market to be less dependent on external fluctuations and shocks while also making the country's economy more indispensable to the outside world.[7]
- ^ Buckley, Chris (7 September 2020). "Xi's Post-Virus Economic Strategy for China Looks Inward". The New York Times. Archived from the original on September 7, 2020. Retrieved 9 March 2021.
- ^ Cite error: The named reference
SCMP dual circulation explainerwas invoked but never defined (see the help page). - ^ Cite error: The named reference
Jin dual circulationwas invoked but never defined (see the help page). - ^ Hart, Brian (2021-12-15). "Will the Dual Circulation Strategy Enable China to Compete in a Post-Pandemic World?". Center for Strategic and International Studies. Archived from the original on 2024-09-03. Retrieved 2024-09-28.
- ^ "高层会议首提"国内国际双循环"新发展格局， 释放哪些重磅信号？" [The high-level meeting first proposed the new development pattern of "domestic and international dual circulation". What important signals did it release?]. Yicai Global (in Chinese). Shanghai Media Group. Archived from the original on 2020-10-27. Retrieved 2020-10-20.
- ^ Yao, Kevin (9 September 2020). "What we know about China's 'dual circulation' economic strategy". Reuters. Archived from the original on 13 March 2021. Retrieved 14 March 2021.
- ^ Mastro, Oriana Skylar (2024-05-23). Upstart: How China became a Great Power. Oxford University Press. p. 168. doi:10.1093/oso/9780197695067.001.0001. ISBN 978-0-19-769506-7. OCLC 1416896748.