Cai Fang led 13 experts to write the "Outline of Double Circulation" to dissect the economic trend in the next decade

Under the "double cycle" development pattern, what is the path of China's future economic development? A few days ago, the new book "Outline of Double Cycle" written by 13 experts led by Cai Fang, a famous economist and former vice president of the Chinese Academy of Social Sciences, was published by Guangdong People's Publishing House, which has a multi-dimensional and all-round interpretation of China's development trend in the next decade and analyzes the economic opportunities that ordinary people can seize, which can be described as a timely choice for all sectors of society to deeply understand the double cycle strategy and grasp the policy direction.

"Outline of Double Cycle", Cai Fang et al., Guangdong People's Publishing House, 2021.10

As a key publication of the Central Propaganda Department in 2021, the "Outline of Double Circulation" pointed out that China, as the world's second largest economy, accelerated the construction of a new development pattern of "double circulation" and is an inevitable choice for achieving high-quality development. The book puts forward ten key issues about China's economic development, not only involving macro propositions such as high-level opening up, industrial chain reshaping, financial reform, regional equilibrium, and aging challenges, but also proposing professional solutions to people's livelihood problems such as pension, common prosperity, income distribution, and consumption investment, helping readers jump out of the appearance of daily life and look at China's economic development trend from a higher pattern. The book is accompanied by 43 detailed charts, using authoritative data to explain the double-cycle strategy in detail

For the investment direction that everyone is concerned about, Cai Fang said that under the new development pattern of double circulation, it is necessary to firmly grasp the strategic base point of expanding domestic demand. Investment under the new development pattern should meet the requirements of the development concept of high-quality development, and the investment direction is more inclined to solve the outstanding problem of unbalanced and insufficient economic development, and the book specifically summarizes these investment directions into two categories, one is "short-term investment", such as the huge demand for investment in the health field caused by the impact of the new crown pneumonia epidemic, and the other is "upgraded investment", around the direction of economic modernization, aimed at promoting economic transformation and upgrading, improving the quality and efficiency of economic growth. Among them, the "upgraded investment" represented by new infrastructure, such as 5G, big data center construction, artificial intelligence infrastructure construction, industrial Internet, UHV field, new energy vehicle charging piles and high-speed rail transit, etc., can drive a total investment of more than 27 trillion yuan during the "14th Five-Year Plan" period, which will be a hot spot for China's economic development in the future.