Smooth Domestic Circulation - One of the Frontline Observations on China's High Quality Economic Development in 2023

2023-12-08

A major economy requires a strong and resilient national economic circular system. This year marks the beginning of fully implementing the spirit of the 20th National Congress of the Communist Party of China. Seizing the initiative - responding to risks and challenges through a virtuous cycle of the national economy. In early December, the reporter arrived at Youyi Pass located in Pingxiang City, Chongzuo, Guangxi. This southern gateway, which has a history of over two thousand years, has now become a powerful witness to China's accelerated construction of a new development pattern - trucks loaded with fruits entering Vietnam are driving into China ASEAN (Chongzuo) Fruit Trading Center. Chinese fruit importer Huang Qingshan is busy inspecting and loading goods: "After picking Vietnamese fruits, it usually takes two to three days to clear customs and transport them to this market. This batch of dragon fruit arrived today, was transported this afternoon, and is expected to arrive in Shanghai in 36 hours." Trucks filled with parts and heading towards Vietnam are also busy. In the Pingxiang Border Export Processing Industrial Park, Zhang Mingyuan, the person in charge of Pingxiang Sannuo Digital Technology Co., Ltd., pointed to the map and told reporters that the electronic components manufactured by the enterprise can be exported and delivered to the assembly factory in Vietnam in just three to four hours. The entry of imported fruits and the flourishing cross-border industrial chain cooperation have become vivid footnotes for China to accelerate the construction of a new development pattern. Since the beginning of this year, China's economic operation has faced new difficulties and challenges, with some economic indicators slowing down and the external environment being complex and severe. Based on the present and with a long-term perspective. On the basis of focusing on stabilizing the economic fundamentals, China is accelerating the construction of a new development pattern, vigorously implementing the strategy of expanding domestic demand, promoting a virtuous cycle of the national economy, firmly guarding the bottom line of security, and helping the economy to continue to recover and improve. The leading role of the domestic circulation has been strengthened - in Wudi County, Binzhou, Shandong, buses that were once "unable to sit" and "unable to run far" are gradually becoming the link for goods to enter and exit villages and towns: modern household appliances such as wall breaking machines and sweeping robots are getting off at village service stations and entering the warehouse; The winter date and other products planted by farmers are transported to other places by hitchhiking... Building a new development pattern and improving the domestic circulation is the fundamental solution. Although the consumption growth rate has slightly slowed down in recent times, the contribution rate of final consumption expenditure to economic growth in the first three quarters was 83.2%, driving GDP growth by 4.4 percentage points. The sustained recovery momentum of consumption has not changed. The domestic and international dual circulation interaction is accelerating - the annual intended transaction amount of the 6th China International Import Expo reached 78.41 billion US dollars, reaching a new high in history; The first China International Supply Chain Promotion Expo has signed more than 200 cooperation agreements and intention agreements, involving an amount exceeding 1500 yuan

Edit:He Chuanning    Responsible editor:Su Suiyue

Source:Xinhua

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