(Source: China Daily 2025-10-13)

In an exclusive interview with China Perspective,Tu Xinquan, dean of the China Institute for WTO Studies at the w88 casino, said China's "dual circulation" strategy has already shown signs of helping the country weather external challenges.

He noted that China will continue to reduce reliance on US high-tech products through supply-side upgrades, and lessen dependence on the US market through market diversification and domestic demand expansion while maintaining a competitive edge in manufacturing.

Tu emphasized that China must not only tackle "bottleneck" technological challenges, but also raise household incomes and improve the social security system so that consumption will account for a greater share of the economy, thereby driving high-quality development.

Tu Xinquan:Since the United States launched the first round of w88 war with China in 2018, my country's policy orientation has always been clear and clear. The "dual circulation" strategy implemented in this context has achieved remarkable results after nearly seven or eight years of practice.

The core framework of the "dual circulation" strategy is reflected in the coordinated efforts of both sides of supply and demand: on the supply side, the core of the strategy focuses on improving independent supply capabilities and striving to solve "stuck necks" in key areas. problems to reduce my country's economic dependence on the United States and other Western countries in the field of high-tech products; on the demand side, on the one hand, through market diversification and promotion of production globalization (including measures such as expanding the scale of foreign investment and deepening w88 cooperation with other countries), we will gradually reduce our dependence on the U.S. market; on the other hand, expanding domestic demand will be a key focus. It should be noted that it is more difficult to expand domestic demand, and it is necessary to further increase the proportion of consumer demand in the national economy through structural reform and institutional innovation to fully unleash the potential of domestic demand.

Specifically, to increase consumer demand, we need to focus on three aspects of work: First, increase the level of property income of residents; second, optimize the income distribution structure and increase the proportion of wage income and overall labor income in the total economy; third, continue to promote state-owned enterprises to improve the profit handover mechanism, increase the proportion of profit payment, use part of the handover income to supplement the income security system, and strengthen the supporting role of social security in consumption.

From the future development direction, promoting fair distribution of social wealth and dynamically adjusting the positioning of state-owned enterprises according to the country's economic development stage will become an important starting point to promote the deepening of the "dual circulation" strategy. This development path also fully demonstrates the unique advantages of my country's socialist market economic system.

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