Dual circulation

Dual circulation
Dual circulation
Simplified Chinese	国内国际双循环
Traditional Chinese	國內國際雙循環
Hanyu Pinyin
Transcriptions
Standard Mandarin
Hanyu Pinyin	guónèi guójì shuāng xúnhuán

Domestic-international dual circulation is a Chinese government strategy to reorient the country's economy to a "new development pattern" (新发展格局; Xīn Fāzhǎn Géjú) 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 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 explainer was invoked but never defined (see the help page).
^ Cite error: The named reference Jin dual circulation was 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.

[NYT_Buckley_Xi's_Post-Virus_Economic_Strategy-1] 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.

[SCMP_dual_circulation_explainer-2] Cite error: The named reference SCMP dual circulation explainer was invoked but never defined (see the help page).

[Jin_dual_circulation-3] Cite error: The named reference Jin dual circulation was invoked but never defined (see the help page).

[4] 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.

[5] "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.

[6] 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.

[:3-7] 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.

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