Theoretical Dimensions and Framework of Modern Circulation

During the eighth Meeting of the Central Committee for Financial and Economic Affairs on September 9, 2020, General Secretary Xi Jinping emphasized the pivotal role of the circulation (i.e., the flow of goods, services, capital, and data across the economy) system in the national economy. He stressed that to cultivate a new development paradigm, the construction of a modern circulation should be recognized as a critical strategic imperative. The Proposal of the Central Committee of the Communist Party of China on Formulating the 14th Five-Year Plan for National Economic and Social Development and the Long-Range Objectives through the Year 2035, endorsed at the fifth Plenary Session of the 19th Central Committee Meeting of CPC, specifically advocated for enhancing the modern circulation. The policy discourse of the CPC Central Comittee with General Secretary Xi Jinping at its core on developing a modern circulation system have charted the stragetic trajectory for its accelerated advancement in the new era.