Major economic policies to boost recovery in 2020

Updated: Dec 22, 2020 chinadaily.com.cn Print

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II Establishing dual-circulation development paradigm

Alibaba Group's Nov 11 global shopping festival, which started Nov 1, has generated 498.2 billion yuan ($74.1 billion) in gross merchandise volume by the end of Nov 11. [Photo provided to chinadaily.com.cn]

The Fifth Plenary Session of the 19th Central Committee of the Communist Party of China proposed that China seek to establish a dual-circulation development paradigm.

The dual circulation development paradigm, China's medium- and long-term development strategy, focuses on domestic and overseas markets reinforcing each other, with the domestic market as the mainstay.

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