China’s top political advisor stresses importance of research to boost domestic economic circulation

By Xinhua | July 9, 2024 | 09:17

Wang Huning, a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee and chairman of the National Committee of the Chinese People’s Political Consultative Conference, speaks at a symposium on facilitating domestic economic circulation in Beijing, capital of China, July 8, 2024. (Xinhua/Li Tao)

China’s top political advisor Wang Huning on Monday stressed the importance of deepening research to facilitate domestic economic circulation and build consensus to advance China’s modernization.

Wang, a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee and chairman of the National Committee of the Chinese People’s Political Consultative Conference, made the remarks during a symposium where central committees of some non-CPC parties presented their research results.

Strengthening domestic economic circulation is strategically important to boost economic growth, promote cooperation and build new competitive advantages, thus playing a pivotal role in the country’s new development pattern, Wang said.

Wang also called for efforts to deepen research and produce effective research results on facilitating domestic economic circulation.

China has adhered to a “dual circulation” economic pattern since 2020, prioritizing the domestic market while leveraging both domestic and external markets to enhance resilience to external shocks.

This economic pattern requires the coordination and unification of norms, rules and policies across all regions and industries to ensure the smooth functioning of the domestic market, according to official guidelines.

During the symposium, leaders of the central committees of five non-CPC parties made their respective suggestions on topics such as unblocking logistics, building a unified national market and creating new growth drivers.

(Web editor: Rosa Liu, Zhao Jian)

 
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