(Source: "China Economic Times" 2026-05-21)
Editor’s note:On May 18, the National Bureau of Statistics released April national economic performance data. Data show that some economic indicators in April showed periodic fluctuations compared with March, but from the cumulative data, my country's economy has always maintained a trend of improving quality and improving steadily. The current economic operation still faces practical difficulties and downward pressure, and the foundation for stable and positive economic development needs to be continuously consolidated.
The Political Bureau meeting of the CPC Central Committee held at the end of April clearly stated that it is necessary to enhance confidence and do a good job in economic work with greater intensity and more practical measures. The recently held executive meeting of the State Council also made arrangements, calling for seizing opportunities in response to changes, promoting development while overcoming difficulties, and consolidating and expanding the momentum of economic stability and improvement.
Based on the current situation, how to accurately grasp the general trend of economic development from a comprehensive dialectical perspective? China Economic Times invited a number of experts and scholars who are deeply involved in the field of macroeconomics to provide in-depth analysis and authoritative interpretation.
Zhao Zhongxiu
Core point
The simultaneous development of “strengthening” and “excellence” is the systematic development of the new development pattern theory in practice. It is also an inevitable requirement to cope with the challenges of changing situations and seize the initiative in development. Only by strengthening the domestic circulation can we lay a solid foundation for development; by optimizing the domestic and international dual circulation can we expand the development space.
The meeting of the Political Bureau of the CPC Central Committee pointed out that “enhancing the endogenous driving force of economic development, further strengthening the domestic cycle, and optimizing the domestic and international dual cycles.”
The new deployment of "strengthening" and "optimizing" simultaneously is not only a further deepening of the requirements for accelerating the construction of a new development pattern, but also reflects the strategic outline of my country's economic development model made by the Party Central Committee based on new changes in domestic and international situations. At present, the external environment is becoming more complex and severe, the world economic growth momentum is weak, unilateralism and protectionism are surging, and my country's economic operation is also facing practical challenges such as insufficient effective demand and weak expectations. The more it is against this background, the more we must deeply grasp the strategic considerations, rich connotations and practical requirements of "strengthening" and "doing excellence" simultaneously, accelerate the construction of a new development pattern that is stronger, more resilient, and more dynamic, and promote high-quality economic development.
In-depth understanding of the strategic considerations of “becoming stronger” and “becoming better”
The simultaneous emphasis on "strengthening" and "becoming excellent" is an important strategic deployment made by the Party Central Committee with Comrade Xi Jinping at the core based on the new development stage and focusing on the general development trend at home and abroad. This deployment not only further deepens the requirements for accelerating the construction of a new development pattern, but also reflects the Party Central Committee’s continuous deepening of the understanding of the laws of the construction of my country’s economic circulation system.
From a theoretical logic point of view, "becoming stronger" and "becoming excellent" simultaneously are the inherent requirements for accelerating the construction of a new development pattern. The core of building a new development pattern is to adhere to the domestic cycle as the main body and the domestic and international dual cycles to promote each other. This determines that we should not only strengthen the "main body" of the domestic macrocycle and consolidate the endogenous driving force and basic support for economic development, but also optimize the "linkage" of the domestic and international dual cycles to improve the efficiency of resource allocation and the level of open cooperation. Only by strengthening the "main body" can the mutual promotion of the dual circulation have a solid foundation; only by improving the "linkage" can the level and level of the domestic circulation be continuously improved. From this point of view, the simultaneous emphasis on "becoming stronger" and "becoming better" is the deepening of the theoretical connotation of the new development pattern under the new situation.
From a practical basis, the simultaneous emphasis on "becoming stronger" and "becoming excellent" is an experience revealed by my country's development practice. Since the 18th National Congress of the Communist Party of China, my country has continued to expand domestic demand, optimize supply, and strengthen the resilience and support of the domestic cycle based on the advantages of its ultra-large market and complete industrial system. At the same time, it has persisted in promoting high-level opening up to the outside world. The role of open platforms such as free w88 pilot zones, free w88 ports, the joint construction of the "Belt and Road", and the China International Import Expo, w88 in Services Fair, Consumer Expo, and Chain Expo has continued to increase, and the domestic and international dual cycle linkage effects have continued to appear. Practice has fully shown that the stronger the domestic macrocycle, the more it can consolidate the fundamentals of my country's development; the better the domestic and international dual cycles, the more it can improve resource allocation efficiency and international competitiveness. The simultaneous emphasis on "becoming stronger" and "becoming better" is a systematic refinement of my country's development experience.
From the perspective of practical needs, "becoming stronger" and "becoming excellent" simultaneously are practical requirements for coping with risks and challenges and taking the initiative in development. At present, the external environment is becoming more complex and severe, the momentum of world economic growth is weak, unilateralism and protectionism are undercurrents, and the restructuring of global industrial and supply chains is accelerating. At the same time, my country's economic operation is also facing practical challenges such as insufficient demand and weak expectations. The more it is under such a background, the more we must place the foothold of development more domestically and enhance the autonomy, stability and reliability of development by strengthening the domestic cycle; the more we must optimize the domestic and international dual cycles in a higher level of opening up, make better use of both domestic and international markets and resources, expand development space and create competitive advantages in the linkage. "Becoming stronger" and "becoming better" simultaneously are the strategic choices for our country to stabilize the overall situation, respond to challenges, and win the initiative in the changing situation.
Accurately grasp the rich connotation and internal logic of “becoming stronger” and “becoming better”
The key to understanding the new deployment of “becoming stronger” and “becoming better” simultaneously is to accurately grasp the different connotations and internal unity of the two. The domestic cycle is the main body of my country's economic operation. It is the circulation of production, distribution, circulation, and consumption in the domestic market, and determines the endogenous driving force of my country's economic development. Domestic and international dual circulation is the interconnection and promotion between domestic circulation and international circulation, which determines my country's strategic initiative to create new advantages in international cooperation and competition. "Strengthening the domestic macro-circulation" is to enhance endogenous support and seize the initiative in development, and "optimizing the domestic and international dual circulation" is to improve the quality and effectiveness of opening-up. The previous emphasis on "smoothing the domestic and international dual circulation" focused on opening up blockages and promoting the smooth operation of internal and external circulation; now it is proposed to "optimize the domestic and international dual circulation", indicating that the requirements for the construction of a new development pattern have been further increased, and the joint force of internal and external mutual promotion will drive high-quality economic development.
“Strengthening the domestic cycle” is to transform my country’s ultra-large market advantages into endogenous growth advantages and enhance the endogenous driving force for my country’s economic development. The domestic cycle is the mainstay of my country's economic operation. Only with sufficient power and strong resilience can the domestic cycle effectively stabilize the economic fundamentals and seize the initiative in development. Strengthening the domestic cycle requires a strong domestic market as the foundation, high-quality supply as the support, a modern industrial system as the carrier, the national unified market as the institutional condition, and scientific and technological self-reliance and industrial chain security as strategic guarantees to form a domestic economic cycle system with endogenous power. "Strengthening" emphasizes the efficiency, smoothness and quality improvement of all links of production, distribution, circulation and consumption, and requires the simultaneous advancement of demand expansion and supply upgrading. my country is focusing on tapping the potential of domestic demand, accelerating the construction of a modern industrial system, maintaining a reasonable proportion of the manufacturing industry, and promoting the expansion and quality improvement of the service industry. The inherent direction is to use a higher-quality supply system to undertake higher-level domestic demand, transform domestic demand into a driving force for industrial upgrading, and transform ultra-large market advantages into innovation advantages and productivity advantages.
“Optimizing domestic and international dual circulation” means improving the quality of the linkage between internal and external circulation, improving resource allocation capabilities under open conditions, and enabling international circulation to better serve domestic high-quality development. At this meeting, "smoothing" was adjusted to "optimizing" and juxtaposed with "strengthening domestic circulation", indicating that the focus of domestic and international dual circulation is shifting from opening up circulation blockages to improving circulation quality and resilience. my country has been deeply integrated into the world economy, and international circulation is still an important channel for expanding market space and gathering global factors. my country's high-level opening up cannot continue to rely on scale expansion and low-cost advantages. Therefore, to optimize the domestic and international dual circulation, we must promote the optimization of the open structure, coordinate factors such as international markets, capital, technology, talents, and data, promote the effective connection of my country's rules, regulations, management, standards and other fields with international high-standard economic and w88 rules, promote the coordination of domestic circulation and international circulation at a higher level, and shape my country's new advantages in international cooperation and competition.
“Being stronger” and “becoming better” have an inherently unified logical relationship. A strong domestic macro-cycle is the foundation for domestic and international dual-cycle excellence. The stronger the domestic circulation, the higher our country's autonomy in participating in the international circulation, so that it can seize the strategic initiative when the external environment continues to change. The excellence of domestic and international dual circulation will further promote the strengthening of domestic circulation. Global resource factors, advanced technology, market competition environment and institutional experience can improve domestic cycle efficiency. The two support each other, forming a benign mutual promotion of strengthening the domestic circulation to enhance the autonomy of opening up, and enhancing the domestic development vitality through the optimization of the international circulation. At a higher level, the unity of endogenous power enhancement, opening up quality improvement, development security guarantee and international competitive advantage shaping can be achieved.
Accelerate the opening of new development space with two-way efforts of "becoming stronger" and "becoming better"
Strengthen domestic circulation through two-way efforts of smooth circulation and industrial upgrading. To strengthen the domestic circulation, we must not only clear up circulation obstructions, but also consolidate the supply foundation. The first is to clear up circulation obstruction. Resolutely break down local protection and market barriers. Relevant departments will take the lead to carry out special cleaning up of hidden barriers in the name of subsidies, access, and standards in various places, focusing on rectifying "involution" competition and discriminatory policies. The second is to fully unleash consumption potential. Prioritize stabilizing employment and increasing income, implement tax and fee reduction and social security subsidy policies; support local governments in issuing targeted consumption vouchers for cultural tourism, catering, home appliance replacement, etc., and encourage qualified enterprises to implement flexible work systems and paid vacations, so that residents have both spending power and time to spend. The third is to consolidate the supply foundation. Promote technological transformation and equipment updating, guide the transformation and upgrading of traditional manufacturing industries; optimize the competition order, abandon the extensive investment model of competing for subsidies and land prices; vigorously develop new productive forces, focus on new tracks such as artificial intelligence, low-altitude economy, and bio-manufacturing, open up the transformation block points from research and development to mass production, and promote the deep integration of technological innovation and industrial innovation.
Use institutional opening to improve and expand space and optimize international circulation. "Optimizing" the international dual circulation is not to shrink opening up, nor to react passively, but to proactively win room for expansion with a higher level of institutional opening up. First, stabilize the fundamentals of foreign w88 and foreign investment. Guide enterprises to diversify their layout, and while deeply cultivating traditional markets, vigorously explore emerging markets such as Central Asia, the Middle East, Latin America, and Africa, and make good use of free w88 agreements such as RCEP to reduce tariff costs. Support the development of new business formats such as cross-border e-commerce and overseas warehouses, and provide subsidies for export credit insurance premiums for small and medium-sized foreign w88 companies. The second is to promote institutional opening up. Actively benchmark against high-standard economic and w88 rules such as CPTPP and DEPA, conduct pilot trials in areas such as intellectual property protection, cross-border data flow, and environmental standards, form more institutional innovation results, and accelerate replication and promotion. The third is to coordinate openness and security. Establish a risk monitoring and early warning mechanism for supply chain risks in key industrial chains, and build a composite safety net of domestic protection and strategic reserves for strategic materials such as energy, minerals, and grain.
Achieve mutual promotion and common progress through internal and external integration, and smooth double circulation. The domestic and international dual circulation are not two parts that are isolated from each other. They must promote deep coupling and mutual empowerment. The first is to promote the convergence of rules. Promote the connection between domestic unified market rules and international high-standard economic and w88 rules, narrow differences in government procurement, subsidy policies, technical standards, environmental regulations and other fields, and promote products and services to be "same line, same standard and same quality". The second is to speed up the construction of platform carriers. Give full play to the hub role of open platforms such as free w88 pilot zones, comprehensive bonded zones, and cross-border e-commerce comprehensive pilot zones, and promote the superposition of functions and mutual sharing of policies among various platforms. Support qualified regions to build domestic and foreign w88 integration pilot bases, build supply chain service centers that integrate procurement, distribution, warehousing, delivery, and settlement, and smooth the two-way channel for "bringing in" and "going out." The third is to promote the flow of factors. Comprehensively implement the Foreign Investment Law and supporting regulations to ensure that domestic and foreign-funded enterprises enjoy equal treatment in government procurement, standard setting, and intellectual property protection. Break down invisible barriers such as cross-border data flow and cross-border talent practice, and allow resources to be efficiently allocated between internal and external cycles. Improve the overseas comprehensive service system and promote the rational and orderly cross-border layout of industrial and supply chains.
The simultaneous development of "becoming stronger" and "becoming better" is the systematic development of the new development pattern theory in practice. It is also an inevitable requirement to cope with the challenges of changing situations and seize the initiative in development. Only by strengthening the domestic circulation can we lay a solid foundation for development; by optimizing the domestic and international dual circulation can we expand the development space. Only by building a stronger foundation and giving better play to the effectiveness of "excellence" can we stabilize the overall situation, win the initiative, open up new situations in the complex and severe external environment, inject stronger impetus into high-quality development, and provide solid support for Chinese-style modernization.
(The author is the president and professor of w88 casino)
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