On March 31, 2021, a debate themed “Dual circulation: China’s place on the global stage” was co-organized by the Chinese Mission to the EU and Friends of Europe, looking at the “dual circulation” model and its impact for China, Asia and Europe on trade and geopolitical relations. Among the participant was Dr. HUANG Ping, a member of the National Committee of the Chinese People’s Political Consultative Conference, Director of the Center for Taiwan, Hong Kong and Macau Studies at the Chinese Academy of Social Sciences, and a China Forum expert.

The “dual circulation” model heralds a new avenue for sustainable, balanced, and quality growth, said Dr. Huang. Despite rapid success in the past four decades, a large part of China’s central and western regions is not as developed as its coastal areas and tier 1 cities. With a large population and tremendous market potential in these inland provinces, the “dual circulation” model is poised to empower them as increasingly important participants of the world economy. Therefore, this model is hardly a refusal to opening up to the wider world; it embodies a new vision for greater openness and balance in economic growth.

Dr. Huang stressed that the “dual circulation” model not only rivets on growth figures, but more so on quality. It underlines both opening up to the world and pursuing more integrated development of China’s inland regions, and will promote stronger economic connectivity across the globe, bringing fresh and greater opportunities to investors, businesses and consumers around the world.

The event convened leading personalities of the Chinese Mission to the EU and the EU Delegation to China as well as high-ranking representatives of academia and industry.