In the afternoon of August 24, when General Secretary Xi Jinping presided over the symposium of experts in the economic and social fields, he once again stressed that we should promote the formation of a new development pattern with domestic circulation as the main body and domestic and international double circulation promoting each other.
The formation of a new development pattern is not a passive expedient for China, but an active strategic choice. As China enters a new stage of development, the internal conditions and external environment for development have undergone profound and complex changes. According to the change of development stage, environment and conditions, promoting the formation of a new development pattern has become a strategic choice to reshape China's new advantages in international cooperation and competition. In fact, since the international financial crisis in 2008, China's economy has been shifting to a domestic macro cycle. The ratio of the current account surplus to GDP has dropped from 9.9% in 2007 to less than 1% now. The contribution rate of domestic demand to economic growth has exceeded 100% in seven years. Conforming to this change is conducive to giving full play to the advantages of the domestic super large market, and adding strong impetus to China's economic development by prospering the domestic economy and unblocking the domestic circulation.
The formation of a new development pattern is by no means a closed domestic cycle, but an open domestic and international double cycle. Under the new development pattern, the domestic market and the international market should be better connected, and the international and domestic markets and resources should be better utilized. In June, China held the "Cloud based" Canton Fair to exhibit about 1.8 million export commodities, attracting hundreds of thousands of global buyers; In early September, China will hold a service trade fair, attracting more than 140 international organizations, embassies in China, business associations and institutions to participate in the fair; In November, the planned area of the third Enterprise Fair increased by 20% compared with that of the second. These exhibitions injected new momentum and vitality into the development of global economy and trade, and demonstrated China's unswerving determination to open wider to the outside world.
The strategic basis of forming a new development pattern and expanding domestic demand must be grasped. China has a population of 1.4 billion, a labor force of 900 million, more than 400 million middle-income groups, and more than 100 million market players. It has the advantage of a super large market. In the future, the potential of domestic demand for China's economic growth will continue to be released. We should adhere to the strategic direction of supply side structural reform, make production, distribution, circulation and consumption more dependent on the domestic market, improve the adaptability of the supply system to domestic demand, and form a higher level dynamic balance of demand pulling supply and supply creating demand.
To form a new development pattern, scientific and technological innovation should be the key measure. The world today is experiencing a great change that has not happened in a century, and a new round of scientific and technological revolution and industrial transformation is booming. Vigorously improving the ability of independent innovation and breaking through key core technologies as soon as possible are related to the overall development of China, and are also the key to the formation of a major domestic cycle. With scientific and technological innovation, new development momentum will be generated, and innovation driven connotative growth will be achieved, which will inject strong impetus into high-quality development.
To form a new development pattern, we should adhere to the basic national policy of opening up. The door of China's opening will not be closed, but will only open wider and wider. China will actively cooperate with all countries, regions and enterprises willing to cooperate with China. At the same time, China should also focus on strengthening its competitiveness, open regulatory capacity and risk prevention and control capacity. In the long run, economic globalization is still a historical trend. It is a long-term trend for countries to divide their work and cooperate for mutual benefit and win-win results. China will be more closely linked with the world economy and provide broader market opportunities for other countries.
There must be laws, and then we can succeed. At present and in the future, China's development is still in a period of strategic opportunities. Facing the future, only by accelerating the formation of a new development pattern, can China's economy, the big ship, break the waves and travel steadily to the future.
(The author is a commentator of this newspaper)
(Editor in charge: Peng Xinyun, Yang Guangyu)
