Accessibility Statement Skip Navigation
  • Resources
  • Blog
  • Journalists
  • +44 (0)20 7454 5110
  • Client Login
  • Send a Release
Return to PR Newswire homepage
  • News
  • Products
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All Public Company News
      • All Multimedia News
      • View All News Releases

      • Regulatory News

      • D/A/CH Regulatory News
      • UK Regulatory News
      • View All Regulatory News

  • Business & Money
      • Auto & Transportation

      • Aerospace & Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads & Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking & Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers & Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalisation
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls & Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil & Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defence
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation & Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking & Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers & Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines & Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics & Personal Care
      • Fashion
      • Food & Beverages
      • Furniture & Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewellery
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks & Tourist Attractions
      • Gambling & Casinos
      • Hotels & Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Animal Welfare
      • Corporate Social Responsibility
      • Economic News, Trends & Analysis
      • Education
      • Environmental
      • European Government
      • Labour & Union
      • Natural Disasters
      • Not For Profit
      • Public Safety
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Overview
  • Distribution
  • Paid Placement
  • Multichannel Amplification
  • Disclosure Services
  • SocialBoost
  • Rooms
    • MediaRoom
    • ESG Rooms
  • AI Tools
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Hamburger menu
  • Cision PR Newswire UK provides press release distribution, targeting, monitoring, and marketing services
  • Send a Release
    • Phone

    • +44 (0)20 7454 5110 from 8 AM - 5:30 PM GMT

    • ALL CONTACT INFO
    • Contact Us

      +44 (0)20 7454 5110
      from 8 AM - 5:30 PM GMT

  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • News in Focus
    • Browse News Releases
    • Regulatory News
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
    • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • Overview
  • Distribution
  • Paid Placement
  • Multichannel Amplification
  • Disclosure Services
  • Cision Communications Cloud®
  • AI Tools
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists

CGTN: China says to put major efforts in domestic market, while actively seeking out overseas opportunities


News provided by

CGTN

19 Nov, 2020, 08:53 GMT

Share this article

Share toX

Share this article

Share toX

BEIJING, Nov. 19, 2020 /PRNewswire/ -- In a world rocked by the COVID-19 pandemic and escalating tensions with the United States, China has got itself well prepared — with a new economic model called "dual circulation" that is expected to shape the country's blueprint for the next five years.

Continue Reading
This image opens in the lightbox

The new pattern, "dual circulation", also known as "double development dynamic," refers to the two economic circles: trade at home and abroad, but this time with greater emphasis on domestic market. Hyping discussions immediately prompt suggestions that the Chinese economy would "turn inward," as it is argued that focusing on trade at home means "closing doors" to the outside world.

Read the original article here.

Yet to Beijing, opening its door wide seems like a long-term plan that it's not looking to give up. On Tuesday, Chinese President Xi Jinping told the 12th BRICS summit that China will more "actively integrate into the global market". Instead of shutting its door to opening-up, China will embrace the world with more open arms, President Xi noted.

BRICS is the acronym for an emerging-market bloc that groups Brazil, Russia, India, China and South Africa. Tuesday's meeting was hosted by Russia, which holds the rotating BRICS presidency this year.

China will redouble its efforts to expand domestic demand, deepen reform in all aspects, and promote innovation in science and technology to add impetus to its economic growth, he added.

"The strengthening of internal circulation has no contradiction with China's policy of opening-up," commented Prof. Gao Liankui of EU Business School in an opinion piece for the Global Times. "The new development pattern ... was rolled out based on the objective development of the Chinese economy, which has seen industrial upgrading and an expansion of the domestic market."

"Along with technological development, an economic entity will see its comparative advantages change, leading to a certain degree of import substitution. It's not China's unique path," Prof. Gao said in the piece.

Also at the BRICS meeting, President Xi highlighted the need for international solidarity in the fight against the coronavirus. "We need to overcome differences and prejudice with unity and rationality and forge the greatest synergy in the battle against the virus," he said.

China's carbon neutrality commitment

Also at the BRICS meeting, Xi doubled down on the country's commitment to achieve carbon neutrality before 2060. That goal, according to experts, would require Beijing to achieve near-zero emissions by 2050.

China will scale up its nationally determined contributions and strive to peak carbon dioxide emissions by 2030, he vowed, "You can count on China to keep its promise."

"To achieve carbon neutrality by 2060 requires a huge transformation in all aspects of the social, economic, energy, and technological systems," He Jiankun, vice chairperson of the National Committee of Experts on Climate Change, told Xinhua, meaning new energy and renewable energy will be topped as the mainstay.

Official data shows that China's emissions of carbon dioxide in 2018 were 45.8 percent lower than that of 2005, which means that the country had met its emission reduction target two years ahead of schedule.

In addition, the government has sorted out ways to promote "green development". China has promoted carbon emissions trading in seven of its provinces and cities — including Beijing and Shanghai — since 2011 to explore market-based mechanisms to control greenhouse gas emissions.

China is ready to fulfill its due international responsibilities commensurate with its level of development, Xi said at the Tuesday meeting.

Building BRICS partnership on new industrial revolution

With respect to the BRICS partnership, Xi pointed out that China is willing to work with other BRICS members to accelerate building a BRICS partnership on the new industrial revolution.

Specifically, China will set up an innovation center for such a partnership in the city of Xiamen, southeast China's Fujian Province, the Chinese president announced at the meeting. The innovation center will facilitate cooperation in fields including policy coordination, personnel training and project development, according to President Xi.

Established in 2009, the BRICS group was set up to establish an equitable, democratic and multi-polar world order, while helping to shape a stable, predictable and more diversified international monetary system.

"BRICS serves as an antidote to the G7 and other U.S.-dominated institutions," pointed out London based political commentator Freddie Reidy. "This (its establishment) was interpreted as the need to find a new global reserve currency, consequently leading to an immediate slide in value of the dollar, demonstrating the considerable influence of the group."

President Xi also called on BRICS countries to hold the banner of multilateralism high, safeguard the purposes and principles of the UN Charter and the international order underpinned by international law.

People's welfare should always be kept close to heart, he stressed in his speech, also urging the bloc to pursue the vision of a community with a shared future for mankind.

At present, the world is caught between the most serious pandemic in the past century and momentous changes never seen in the last one hundred years, Xi said, referring to the COVID-19 pandemic that has plunged the world into the worst recession since the Great Depression in the 1930s.

"Despite all this, we remain convinced that the theme of our times — peace and development — has not changed, and that the trend toward multipolarity and economic globalization cannot be turned around," he said.

Video - https://www.youtube.com/watch?v=7TrCaS4AHBw  

Modal title

Also from this source

CGTN: Second China-Central Asia Summit eyes a closer China-Central Asia community with a shared future

Following the announcement by China's Foreign Ministry that President Xi Jinping will attend the second China-Central Asia Summit in Astana,...

CGTN: China-U.S. trade talks in London receive positive market reception

The first meeting of the China-U.S. economic and trade consultation mechanism is set to continue on Tuesday in London with a second day of talks. The ...

More Releases From This Source

Explore

Publishing & Information Services

Publishing & Information Services

Banking & Financial Services

Banking & Financial Services

News Releases in Similar Topics

Contact PR Newswire

  • +44 (0)20 7454 5110
    from 8 AM - 5:30 PM GMT
  • General Enquiries
  • Media Enquiries
  • Partnerships

Products

  • Content Distribution
  • Multimedia Services
  • Disclosure Services
  • Cision Communications Cloud®

About

  • About PR Newswire
  • About Cision
  • Partnering Opportunities
  • Careers
  • Accessibility Statement
  • APAC
  • APAC - Simplified Chinese
  • APAC - Traditional Chinese
  • Brazil
  • Canada
  • Czech
  • Denmark
  • Finland
  • France
  • Germany
  • India
  • Indonesia
  • Israel
  • Japan
  • Korea
  • Mexico
  • Middle East
  • Middle East - Arabic
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Russia
  • Slovakia
  • Spain
  • Sweden
  • United States
  • Vietnam

My Services

  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
  • Data Privacy

Do not sell or share my personal information:

  • Submit via Privacy@cision.com 
  • Call Privacy toll-free: 877-297-8921

Contact PR Newswire

Products

About

My Services
  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
+44 (0)20 7454 5110
from 8 AM - 5:30 PM GMT
  • Terms of Use
  • Privacy Policy
  • Information Security Policy
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 PR Newswire Europe Limited. All Rights Reserved. A Cision company.