Abstract:

Constructing a new development pattern of “dual circulation” is a major strategic decision and path choice made by the party and the country facing the profound changes of domestic and international situation. At present, China’s “dual circulation” development is faced with the dual challenges of insufficient support capacity of internal cycle and weakening development momentum of external cycle. The negative effects of long-term export-oriented economy leading to low-end lock-in of industrial chain, the bottleneck of quantitative factor growth mode under traditional comparative advantage, the lag of factor market construction which is the key obstacle restricting the construction of unified market, and the long-term structural imbalance which inhibits the sustained release of domestic effective demand are the root causes. Therefore, we should take measures from the supply side, market side and demand side, to smooth the circulation at home and abroad, and to help build the new development pattern.

Key words: new development pattern, dual circulation, deep reason, supply side, market side, demand side