久久亚洲国产成人影院-久久亚洲国产的中文-久久亚洲国产高清-久久亚洲国产精品-亚洲图片偷拍自拍-亚洲图色视频

Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Policies

Commercial ties to deepen with new model

By Zhou Lanxu | China Daily | Updated: 2020-09-22 09:25
Share
Share - WeChat
Tourists visit the Bund, a major scenic spot on the Huangpu River, in Shanghai on Jan 6. [Photo/Xinhua]

'Dual-circulation' pattern not a concept focused on demand, says expert

Improving business exchanges with the international markets, rather than reducing the reliance on external demand, will be the key focus for China in its new "dual-circulation" development pattern, a senior economist said.

Zhu Min, head of Tsinghua University's National Institute of Financial Research and a former deputy managing director of the International Monetary Fund, said the" (new pattern) is not a concept focused on demand."

Instead, the core of the "dual-circulation" pattern lies in smoothening business exchanges both within the domestic market and with international markets, with the items exchanged set to expand from commodities to resources, information, technology, and "everything", Zhu said.

"In that sense, making sure that China continues the reform and opening-up efforts, and the two systems (domestic economic circulation and international exchanges) link and work together is the most important thing," he said.

According to Zhu, China has become a largely domestic demand-driven economy in the past decade with its net trade surplus dropping to less than 1 percent of its GDP.

Zhu's remarks came after China put forward the "dual-circulation "development pattern, whereby internal economic circulation is the mainstay while the domestic and external markets can complement each other.

Analysts said the new development pattern has marked a strategic shift in China's policymaking and is expected to serve as the policy framework of the upcoming 14th Five-Year Plan (2021-25).

Zhu said addressing the country's weak links in upstream technologies and meeting people's demand for consumption of higher quality are the two main tasks under the dual-circulation pattern.

The country's policy priority of stabilizing employment and the construction of new types of infrastructure like 5G this year has underlined its commitment to the two tasks, he said.

"I think foreign companies will come to China more to participate in the dual-circulation construction process," Zhu said, as both tasks entail international cooperation and provide huge development opportunities for foreign businesses.

For instance, the country is expected to further open its financial sector when it comes to pension funds, asset management and financial derivatives, said Zhu.

He emphasized that the new development pattern is critical for China and the world, as it is not only a strategic choice for the country to face the uncertainties arising from economic and geopolitical situations, but will also lay the foundation for China's sustainable economic development.

The biggest uncertainty faced by the global economy is not the COVID-19 pandemic itself or the related economic recession, but the rising political uncertainties, Zhu said, citing that different economies seem to be less willing to cooperate with each other than during previous crises.

The dual-circulation pattern will help the Chinese economy withstand the external uncertainties by strengthening the country's internal economic circulation system, he said.

Zhu said that China's pursuit of internationalizing its currency is set to gather pace as the renminbi may continue to appreciate against the greenback amid a weakening credibility of the latter.

The US Federal Reserve's large-scale easing measures and the US economic recession have impaired investors' confidence in the greenback, he said.

Meanwhile, global investors' rising demand for renminbi-denominated assets and China's efforts to launch its official digital currency will help elevate the international status of the renminbi, a process that will contribute to global financial stability, Zhu said.

The country will continue to open and work with the whole world in improving global cooperation and stability, contributing more to the global economy, he said.

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
主站蜘蛛池模板: 欧美日韩一区二区三区免费不卡 | 91欧美视频 | 欧美牲| 久草在线中文视频 | 久久久久久久国产精品视频 | 国产第一草草影院 | 麻豆日韩| 99久久免费观看 | 欧美最刺激好看的一级毛片 | 成人久久精品一区二区三区 | 国产亚洲精品一区二区三区 | 一本色道久久爱 | 国产一级小视频 | 国产精品情人露脸在线观看 | 国产一区二区三区在线观看免费 | 日韩一区二区三区在线观看 | 久久精品视频2 | 在线精品免费视频 | 久久精品高清视频 | 免费人成年短视频在线观看免费网站 | 国内精品一区二区三区最新 | 欧美ab| 国产小视频在线高清播放 | 精品国产不卡一区二区三区 | 亚洲b | 超清首页 国产 亚洲 丝袜 | 国产精品爱久久久久久久9999 | 目韩一区二区三区系列片丶 | 亚洲精品在线观看视频 | 91精品国产综合久久欧美 | 91精品成人免费国产 | 久草影视在线观看 | 一级欧美视频 | 九九看片 | 中文字幕亚洲另类天堂 | 欧美一区二区在线观看免费网站 | 91精品国产免费久久国语蜜臀 | 色偷偷成人网免费视频男人的天堂 | 国产国语高清在线视频二区 | 久操福利视频 | 国产免费v片在线看 |