This article is from WeChat official account:Huaxia Cornerstone e Insight (ID: chnstonewx)< span class="text-remarks">,According to Professor Wei Jie of the Eighth China Cornerstone October Management Summit Forum on October 30, 2020 domestic and international double loop – to circulate within the country-driven strategic requirements “on the topic finishing (without my review), author: Wei Jie, editor: Zhang Xiaoqian, head Figure from: China Stone


I am very glad to share with you this time.

The topic that everyone in this room has paid attention to and discussed most recently should be about the “14th Five-Year Plan”. In this topic, the most discussed, and there is still a little controversy, is our latest proposal-a new development pattern with domestic and international double cycles as the main body and mutual promotion of domestic and international cycles.

This is the first official proposal since the reform and opening up. In the domestic and international cycle, we focus on the domestic cycle. We continue to emphasize the combination of domestic and international, but focus on domestic circulation.

This is a research and judgment based on the current international situation.

What is the connotation of “the new development pattern with domestic and international double cycles as the main body”? What does it mean? Everyone really argues a lot. I understand that the new development pattern has five core contents.

will continue to open in the future, but the ultimate goal of opening up is to meet the needs of the domestic market

We made it clear that we will continue to emphasize the expansion of exports and foreign investment, but no longer open for the sake of opening up. The ultimate goal of expanding foreign exports and foreign investment is to meet the needs of the domestic market.

As you all know, the current domestic market demand cannot be met by our own supply capacity.

For example, we can’t make out key raw materials ourselves. More than 50% are imported; more than 70% of oil and natural gas energy are imported; the information industry is also very difficult. The so-called key components, like 90% of chips are imported.

So we have to invest abroad, expand exports, earn foreign exchange internationally, and buy other people’s things to meet domestic market demand.

We will not blindly expand exports and blindly invest abroad as we did in the past. As a result, we made so much foreign exchange and bought more than $1 trillion in US treasury bonds. Moreover, around so much foreign exchange earned, we also sacrificed the environment and resources of the people.

Next, we don’t have to do this anymore. The ultimate goal of our opening up and investment is to meet the domestic market’s needs. If enough is enough, we will pursue a balance of international payments and no longer blindly earn foreign exchange.

This is very important. In the past, it seemed that our goal was not very clear. Now we want to open up because our goal is to meet domestic market demand. The ultimate goal of earning foreign exchange is to solve our own supply demand through the world industrial chain.

This adjustment is a major adjustment.

Developing and improving the domestic market is our focus in the future

The opening and upgrading of the domestic market should be regarded as a core content of the entire economic work. How to develop and improve the domestic market?

The domestic market consists of two, one is the investment market and the other is the consumer market. Investment is ultimately for consumption, so the final market in the domestic market is the consumer market. In the future, the focus of our development and enhancement of the domestic market is the final market, which is the consumer market.

In recent discussions, we divided it into 5 major components.

Eat and wear

“Food and clothing” is based on population. Our final market of 1.4 billion people has huge demand. Especially after we officially enter a well-off society next year, major changes in food and clothing will occur.

So we put forward: Eat healthy, wear fashionable, and further improve the intelligence and modernization of “use”.

To eat healthily, how many industries and operations can support it; how many industries are involved in fashion clothing; the use of intelligence and modernization will also drive a series of industries.

The core of “use” is the “three” we are talking about: home appliances, furniture, and household appliances. There is still a lot of room for the development and improvement of the “Three” in China.

I saw an article by a scholar saying that one billion people in China have never used the toilet.

I had doubts about this figure at first, and later discovered that this figure may be true.

Because I recently went to a high-speed rail station in a provincial capital city to look at the toilet and found that there was no toilet in the business lounge. I was shocked and asked the waiter what to do with the disabled? The answer is, it’s not over when you go home.

How can I go home and go to the bathroom by high-speed rail? I went to a very famous northern city, but there was still no toilet in the large lecture hall.

If 1 billion people have never used the toilet, the level of “usage” in this area is very low, and there is still a lot of room for social sanitation equipment.

For example, for air conditioners, everyone may have the concept of oversupply leading to surplus. However, we researched the domestic market and found that two players in the air conditioner industry, Midea, Gree, and several small companies that followed, can survive. , That means there is market space.

The research director said, do you know Mr. Wei? Nowadays, all pigs are equipped with central air-conditioning, and the quality of life for pigs is the same as that of people.

The final market for “food and clothing”, in fact, China has a huge market demand, and what we need to do is further development and construction.

Living and Travel

Housing and travel are the first to be a huge market demand.

We emphasize that the so-called non-speculation of housing is a principle. But for consumers, real estate still has a lot of room.

Because after entering the well-off society, people’s “living” is no longer a simple living problem, but we must continue to improve the quality and move towards an enjoyable and comfortable style. There is still a major market demand.

This time the new coronavirus hit, people realized that housing is an important factor affecting people’s quality of life. People with good houses are happy to stay at home. People in poor houses are uncomfortable, and the whole family is crowded together, and you can hear farting and snoring.

So once the new crown virus is over, everyone is vying to buy a good house, why? Because you want to enter the class of enjoyment and comfort.

Yes, now cars, high-speed rail, and airplanes are very convenient. Is there no room for improvement? There is an article saying that one billion people in China have never flew in an airplane. The authenticity of this data is unknown, but it can indicate that the demand for “operation” will increase.

Small airplanes are manufactured by ourselves. How much financial resources are needed behind them? In addition, cars, high-speed rails, and airplanes need to be supported by expanded infrastructure. I guess that if the Chinese have to fly by plane, the construction of the airport will not be enough to double the current level.

The final market for “housing and transportation” must be huge, and there will be huge market demand in the future.

Education and Health

Education and health are important needs that people continue to rise after entering a well-off society. The market demand for education is huge, including not only compulsory education, non-compulsory education, but also continuing education. The latest one is lifelong education. ‍‍‍‍

An American scholar told me that American education is very developed, but it cannot be industrialized. As long as your Chinese education is started, it can be industrialized.

Our app for tutoring elementary school students to do homework has hundreds of millions of visitors.This is because of the huge market demand.

This is especially true for health. There is a huge demand behind the biomedicine and elderly care involved.

According to an article by a scholar, China has entered an aging society and needs 5 million nursing staff to meet this demand. In this regard, we need to develop and improve the ultimate market of education and health.

Culture and environment

Culture and environment are important needs of people in the rising psychological field after entering a well-off society.

We have not entered a well-off society. We have carried out various cultural activities. A well-off society has arrived, and we have developed a cultural economy.

After any country enters a well-off society, culture can rise to an economic form, because after a person gets rich, his expenditure on material enjoyment is reduced, and what he needs more is the value of spiritual enjoyment, so cultural economy becomes an important economic platform .

Now the cultural economy is compared with the financial economy and the real economy because it is a huge demand.

Through recent research, we have found that cultural economy includes five components.

First, film, music, drama.

Second, collections and intangible heritage museums.

Third, tourism, leisure and entertainment.

Fourth, culture, publishing, and sports. Attention, everyone, why do we put sports in culture? Because sports is not simply related to health, in a sense, sports meet people’s spiritual needs.

There was an article in the newspaper about running a marathon in a provincial capital city with a net profit of 4 million. I’m very strange, why is it so high?

Later it was discovered that most of the people who participated in the marathon were not to exercise but to show off. Everyone bought a very good outfit, which is very expensive, and the video is constantly being recorded, so you have to show yourself. This is not only physical exercise, but also a spiritual pleasure.

Fifth, media, advertising, and creativity. These five components of the cultural economy will all be produced in an economic form and will show an upward trend in the future.

At the same time, people have new requirements for air, water, large rivers, and even small communities. Like waste water and waste gas, solid waste treatment, DajiangThe demand for ecological restoration of large rivers and community construction is increasing.

A very important investment direction in the future may be environmental investment. The environmental economy will emerge at the historic moment, and like the real economy, it will become a new economic form, not simply environmental protection.

Interpersonal communication and risk prevention

Interpersonal communication and risk prevention are important requirements for people after entering a well-off society. After getting rich, you know that you pay more attention to interpersonal communication. Those APPs that meet the interactions have a huge market. I think they are meeting the important needs of everyone’s gossip.

Why do people need this kind of communication? Investors don’t even need to know the reason, as long as they know that all these demand industries related to human interaction have huge development prospects.

In addition, risk prevention is essential. Especially after this new crown epidemic, people pay more attention to and think about their own risks. This year’s COVID-19 has changed many things, including spiritual theories.

In the past, economics believed that human behavior has two aspects, one is consumption, and the other is investment. It seems that this is not complete. In fact, there are three types. In addition to consumption and investment, the third is flow. Wealth should not only be used for project investment, but also part of it can be put there to guard against risks.

The epidemic is coming. People with a lot of money don’t worry about staying at home. There is nothing terrible. Take your time. If you don’t have money, you will rush to work as soon as you have no money. You may go bankrupt.

Then why use all the money for sales and investment? The need for risk prevention will be increasingly strengthened.

I estimate that the insurance industry has a lot of room for development in the future. The core of insurance is not investment, not financial management, but risk prevention.

These five types of markets can fully absorb China’s supply capacity. Therefore, developing and upgrading the domestic market will be the most important task for the new development pattern. I suggest you pay attention to this concept.

Since we have shifted our focus to the domestic market, the composition of the domestic market and the future space require entrepreneurs’ thinking and research.

make up for the shortcomings of China’s economy as soon as possible

If we do not make up for the shortcomings of China’s economy as soon as possible, the future development may be seriously affected.

In the past we rely onThe world industrial chain can obtain what it needs. After this new crown epidemic, Sino-US relations have deteriorated and the United States has broken the world industrial chain. This time our shortcomings have fully emerged, and we have clearly seen it.

There are five shortcomings that are obvious.

High-end engine technology is not good

The engine is equipped with the word “high-end”, from aero engines to ventilator engines. We are not doing well.

In this new crown epidemic, China is the country that produces the most ventilators, but it didn’t make much money in the end, because we can’t get the key parts and components, and we have to buy other people’s. With so much production, we are not profitable because we have not mastered the technology of high-end engines.

This is a major issue.

The material is not available

We can’t get many materials. 50% of the key materials are imported. We can’t get them as large as airplane tires and bearing steel, as small as the touch screen of mobile phones.

We are now building important parts of large aircraft, such as landing gear, which account for a high proportion of the aircraft, but we can’t get the landing gear platform or the bearing steel of the landing gear. Now it has become a major shortcoming.

Recently, Japan and South Korea have done a game, which ended in Japan’s victory. Why? Over the past 20 years, Japan has paid great attention to the development of an industry-fine chemicals.

Fine chemicals belong to the field of materials, and many products are raw materials for the semiconductor industry. The Korean Peninsula semiconductor companies are very developed, but the materials come from the Japanese. As soon as Japan and South Korea confront each other, the materials in South Korea will be uneven, and the industry will be on the verge of death.

So we can’t just shut down chemical companies. The chemical industry belongs to the field of materials. The initial chemical companies mainly need to solve the problem of waste gas emission, and the fine chemical industry mainly needs to solve the problem of waste water discharge. After these two problems are solved, chemical companies can produce and develop normally.

A local government reported to us that how many local chemical companies have shut down. I said don’t shut them down. Solving the pollution problem is the core. How can we develop our materials after you shut down?

CNC machine is not working

As you all know, now the parts are refined enough to rely on manpower to produceIf it can’t be produced, it must be produced by CNC machine tools and digitalized. This time we were attacked and discovered that the technology of CNC machine tools could not reach the international level, which led to our poor manufacturing quality.

The raw material of the medicine is not acceptable

In our biomedical companies, many pharmaceutical raw materials cannot be produced. For example, we can’t make the raw materials for the treatment of high blood pressure. Therefore, the drugs for common diseases lack raw materials and cannot produce drugs, which cannot meet the needs of the market.

The hardware of the information is not good

Integrated circuits, semiconductors, and chips, we cannot do well in these, so 90% of the information hardware is imported. Huawei is sanctioned by the United States, which makes us uncomfortable.

Someone asked me, why does the United States use national power to attack Huawei? The reason is very simple. 5G is not a simple communication technology, but the starting point of the next technological revolution of mankind.

The core of the next round of science and technology is artificial intelligence. 5G is the core component of artificial intelligence. Whoever masters it will have an advantage in the new technological revolution in the future.

So since Huawei can do leading 5G technology, why can the US national forces hit Huawei successfully? Because integrated circuits, semiconductors, and chips that support 5G are technologies that get stuck in the neck, we feel uncomfortable with a card.

The general secretary recently emphasized that for technology, it is necessary to know where it comes from.

After the deterioration of Sino-US relations, our five shortcomings have been exposed. What should we do? We need to make up for shortcomings as soon as possible, so we shifted our economic focus to domestic, the core is to make up for shortcomings as soon as possible, which will greatly help China’s next step toward modernization.

A very important task of academic research now is to make up for shortcomings. How to make up for it? Rely on technological innovation. Therefore, promoting scientific and technological innovation is the core of the “14th Five-Year Plan” and the most important task during the “14th Five-Year Plan” period. How to promote? There are three things our discussion group reached consensus.

First, increase capital investment.

Science and technology innovation is a capital-intensive activity. How to do innovation without money? So increase capital investment.

I estimate that when the “14th Five-Year Plan” was announced, some indicators were downplayed, and the growth rate is estimated to not need to be announced, but some indicators must be announced, one of which is a hard indicator, investment in technological innovationThe proportion of GDP must be announced.

The direction of funding is also a significant factor.

Second, construct the material foundation.

Technological innovation is not blown out by mouth, it needs a huge material basis.

The large scientific installations, modern laboratories, and scientific innovation centers we talk about are all material foundations. How can we do technological innovation without a material foundation?

So we recently announced that China will construct four metropolitan areas: the Greater Bay Area Metropolitan Area, the Yangtze River Delta Metropolitan Area, the Beijing-Tianjin-Hebei Metropolitan Area, and the Chengdu-Chongqing Metropolitan Area.

Except that Chengyu has not officially announced, the other three plans have been announced. The core content of the plan includes scientific and technological innovation.

For example, the Greater Bay Area wants to build a world-class scientific and technological innovation center in South China, Zhejiang is building a Zhejiang laboratory system, and Alibaba West Lake University and Zhejiang University are building a huge material base system. Without these material foundations, infrastructure construction cannot be promoted.

This is the new infrastructure we are mentioning. Its core is the construction of infrastructure for scientific and technological innovation, which is the infrastructure for constructing so-called technological products.

Third, mobilize people’s enthusiasm.

To mobilize the enthusiasm of scientific and technical elites, the core content of mobilization is to make them rich.

If they are all poor, who is willing to devote themselves to technological innovation? How to make them rich?

Modify the intellectual property system. In the past, intellectual property rights were owned by the state and had nothing to do with individuals. Now they have to do with individuals. All participants and actual controllers must enjoy the economic benefits of intellectual property rights, and eventually create a group of technology rich.

Last year, I said that China’s wealth creation movement has experienced three times.

One is to make wealth by the body. After Comrade Xiaoping’s speech in 1992, a large number of intellectuals moved from inside the system to outside the system and enjoyed the wealth opportunities given by the system. The second is that industry creates wealth. The real estate industry and the information industry have created a large number of rich people.

Now we are entering the third wealth creation movement-technology for the benefit. In the future, when we announce Chinese rich people, there will be an important proportion-the proportion of technology rich people will rise, and the proportion of people who actually control technology will increase.

The reason for being poor in the past was not that they could not do it. Once they, as creators, possess intellectual property rights and have economic benefits, they will become richCome.

I think China’s new economic form has emerged, so we can’t just talk about financial economy and real economy, but also add a technological economy.

So many scientific and technological innovations need to be operated economically, and the technological economy will become an important economic ecology just like the cultural economy.

Promote China’s high-quality development as soon as possible

Promoting the high-quality development of the Chinese economy as soon as possible is a guiding direction of the “14th Five-Year Plan”. How to achieve high-quality development? The key is two reforms.

The first item is economic system reform.

We must continue to advance economic system reforms and release development momentum. There are three key points in economic system reform.

First, mixed economy.

China will not adopt the completely private economy of the West, nor will it adopt the traditional state-owned economy, but a mixed economy.

Various economic costs can gain room for development in China, and various costs can release their own advantages for development.

So don’t be too nervous about the private economy. The private economy is an important part of the taxation growth and employment. It is impossible for us to discriminate and crack down on the private economy, but to further promote development.

Second, market economy.

China will continue to promote and improve the market economy. During the “14th Five-Year Plan” period, the construction of the factor market is the focus. The entire factor must be allocated through the market, and the market economy must be continued to deepen.

Third, the rule of law economy.

The rule of law economy is an important direction for our future reforms. During the two sessions this year, the National People’s Congress passed the “Civil Code”, which will be implemented after January next year.

The core of the “Civil Code” is to protect human rights and property rights. We must form a complete system of constitution, criminal law, and civil law. Recently, we are promoting the reform of the political and legal committee system to eliminate the black sheep and pave the way for the rule of law economy.

Release the vitality of economic growth through economic system reform that combines mixed economy, market economy, and rule of lawTowards high-quality development.

At present, because the economic system reform is not in place, our growth is only scale expansion, not high-quality growth.

To truly move towards high-quality growth, we must grasp these three key points and deepen the reform of the economic system.

The second item is supply-side structural reform.

This is an important part of high-quality development. What is the supply-side structural reform? To reform our supply system to make it more suitable for our market needs requires adjustment of the supply structure and supply structure.

How to adjust the supply structure? During the “14th Five-Year Plan” period, it is hoped that large amounts of capital from the business community can invest in three important industries to improve our supply structure.

First, strategic emerging industries. Strategic emerging industries are an important part of China’s future supply structure.

There are 8 key points to increase investment in strategic emerging industries: new energy, new materials, life bioengineering, information technology and new-generation information technology, energy saving and environmental protection, new energy vehicles, artificial intelligence, and high-end equipment manufacturing.

The science and technology innovation board is basically within these 8 points, and accelerates the promotion of such enterprises.

Related companies that have investigated these points recently, one of which has inspired me a lot, is artificial intelligence. In the future, artificial intelligence is the core of the technological revolution. The production activities and sales activities of human society will gradually turn artificial intelligence, so it is an important investment direction.

Artificial intelligence is divided into two parts, one part is called intelligent artificial intelligence. It’s what the human brain does, it does it for you, you don’t need to use your brain. This kind of activity that replaces the human brain is called intelligent artificial intelligence, and often one APP can solve many problems.

For example, a good Chinese doctor, just open the computer keyboard and type in the symptoms, and it will give you a medicine. China’s smart artificial intelligence is developing very fast, because behind it are digital economy, quick calculations and large-scale market data.

Every day, there are thousands of the same surgery nationwide, and all the data can be sorted out. We are an excellent country in terms of speed calculation and data, so smart artificial intelligence is developing very fast.

Of course, this also brings other problems, and the financial industry is greatly affected.

Artificial intelligence entered the financial field, and everyone noticed two changes:

First, I don’t rely on real estate very much, and the real estate started to withdraw. I bought and sold my real estate. I didn’t need a real estate. One APP captured the information of many outlets.

Second, reduce dependence on human resources. When an APP came out, some people lost their jobs, so financial companies started to lay off employees. The financial economy may be the industry most affected by artificial intelligence during the “14th Five-Year Plan” period.

Another part of artificial intelligence is called behavioral artificial intelligence. It replaces human behavior. People do not need to do their own actions. It is done.

In this regard, our progress is relatively slow. The reason is that the sensing technology is not good, and the reason behind it is that the materials are not good. The sensor needs to use a lot of bearing steel, our material technology can not reach this level.

So if you want to invest, you must think clearly about which part of artificial intelligence you want to invest in. In terms of behavioral artificial intelligence, we actually lag behind Japan; smart artificial intelligence is currently developing relatively fast.

If you invest in this direction, you must carefully study it. Where to invest is very important. Supply-side structural reforms can only be drawn in a general direction, and individual cases must be studied by themselves.

Second, modern manufacturing.

This is a very important industry that marks the level of China’s supply structure.

We hope that more capital will be invested in modern manufacturing, including six key points: large aircraft, high-speed rail, CNC machine tools, nuclear power equipment, UHV power transmission and transformation equipment, modern ships and marine equipment manufacturing, etc.

These are all important industries that we want to further develop and support high-quality development in the supply structure.

When discussing this issue recently, a private company asked me whether these six points have nothing to do with us? In fact, it has something to do with private enterprises.

Why? The core of modern manufacturing is division of labor and collaboration, which is the way to harmony.

Like a big airplane, there are 6 million parts and components. The parts are assembled. I will buy whoever product is successful, and whoever is good. Since it is a division of labor, can you not produce a few parts and enter the system of division of labor?

Sometimes a small part brings you into a big cooperation. The future products of modern manufacturing are the result of cooperation among many enterprises. When we recently inspected companies, we did not look at what you produce, but what you can produce.force.

There is a company in Shandong that provides original parts for our nuclear power equipment. In fact, China Railway does not transfer chassis technology, other parts can be transferred. Therefore, the establishment of a division of labor and cooperation system has a relationship with everyone.

Third, the service industry.

I hope more capital will enter the service industry. In China’s future development, employment is a big problem.

In the past few years, employment has been solved by growth rate. An increase in growth rate can provide 10 million job opportunities.

It’s impossible now. Our growth has gone from breaking 8 to 7 breaking 6 to unknown. The growth rate is going down because our plate is getting bigger and bigger. The bigger the plate, the higher the income. By 2035, our economy When the total increase exceeds that of the United States, it is good to be able to increase it by three points per year, because the plate is very large.

So what do you rely on for employment? It depends on the development of the service industry, so the service industry has become an important economic form. I think the concept of “service economy” can be put forward.

After the “14th Five-Year Plan”, I estimate that 4 new economic fields will emerge: cultural economy, technological economy, service economy, and environmental economy. We cannot just talk about financial economy and real economy.

These industries will develop rapidly. Recently, the demand for general service industries has increased.

For real estate, for example, everyone started buying houses on a large scale after 1997. These houses now have some problems, such as water pipe problems, wall problems, and various minor problems. Who can help you solve them?

Someone has made an important APP platform. Once you click on it, someone will show it to you immediately, and then tell you how much and what to do.

This platform is supported by a large group of migrant workers, and they have very high technical capabilities. They can solve the problems of water pipes and wall coverings, and the prices of materials can also be negotiated collaboratively and provide good customized services.

Later I asked, how much money can your workers make? It is said that it is more than 200,000 yuan a year, and the income is not bad. So you study, just this simple service will form a service economy, forming an increasingly important economic form.

So I hope that more capital will be invested in the service economy and in the service industry.

In general, the emphasis on supply-side structural reforms this time actually refers to structural adjustments to make our structure a bit higher.

If he doesn’t buy it, it’s over.

Our market is very powerful. Keep opening the market. Don’t be conservative. As long as you open the market, your interests will be linked together.

Germany has been relatively friendly recently, because we are Germany’s largest trading partner, behind which are interests, not ideology determines everything, but interests determine everything. China must give full play to its advantages.

Service trade advantage

China is the country with the largest demand for trade in services, ranking first in the world. We are the world’s number one with three service trade fees.

First, the cost of international students.

This is the biggest one. The Chinese are very willing to invest in education, and if they have some money, they want to send their children out to have a look and learn something.

In the past, children from Beijing, Shanghai, Guangzhou and Shenzhen went abroad, but now the children in the county seat are also abroad. Recently, the time and place of the TOEFL test in 2021 were opened. I didn’t expect that the registration was full after three hours. Most of the applicants were Chinese.

I asked them, Sino-US relations are so tense, do you still sign up? The post-90s and post-00s don’t care about this, saying that we are going to transform the United States. This cost is extremely high, how do you decouple?

According to statistics, international students spend an average of 1.65 million yuan to study overseas.

The tuition fee for one person is 50,000 U.S. dollars a year. If it is three years, those countries will have great profits. Trump has made a policy to clean up our international students. I guess he will change soon.

Many universities in the United States rely on the support of our international students. The Chinese are the largest subject in the United States. As a result, the United States has tossed and the United Kingdom has released various signals to attract Chinese students.

On October 1st, I read a report that the number of Chinese college students in the UK has doubled this year compared to 2015, so I discussed with us about opening up cars and flights as soon as possible so that students can come to class.

They are anxious because it is a huge expense. Beauty

The Chinese people are sometimes right. American education is very developed, but it cannot be industrialized. Only China can intervene in order to industrialize it. The reason is that we are the country that provides the largest foreign student fees.

Second, the cost of traveling abroad, China is the highest in the world.

The Chinese are very open, and they have to go out to see if they have money.

The United States is relatively conservative, with more than 300 million people and only more than 100 million people with passports. They like to go around with their neighbors in Canada and Mexico, while the Chinese go out with a little money and visit the world.

The last time I went to an African country, I was boarding a plane. Someone called Teacher Wei hello, and I was shocked. There are still our people here!

Australia is very anti-China, but 0.8 of its growth is contributed by overseas students and Chinese travel abroad.

China has contributed the most to the three Asian countries-Japan, Thailand, and South Korea. They rely on China for more than 50% of their tourism income, and he will be in trouble if we don’t go there.

Recently, a Japanese friend called me and said, Mr. Wei, when you often come to Japan, you didn’t think you were necessary. You didn’t come to discover it until you were there.

The fawns here were fed by Chinese tourists before, and they put a cart of their favorite biscuits, so they didn’t eat them when they were full.

Now that the Chinese are not coming, Xiaolu is all over the street looking for food.

He asked me, can you not let go of Spring Festival Energy? I didn’t say a word, I’m sure we won’t relax. In terms of traveling abroad, we have contributed to the whole world.

Third, the purchase cost of intellectual property rights, we are the world’s largest, more than 4 billion US dollars per year.

Trump said everywhere that we were stealing things from them. In fact, in the world now, China is the country with the highest cost of buying intellectual property services.

Which country do you do well in technology, but it doesn’t make sense if you don’t sell it to us. Only if you sell it to us can you make a profit. How can he decouple from China with such a huge demand for trade in services? Our development has brought you benefits, and there is no way to decouple the benefits of transportation.

It is useless for the United States to incite decoupling, and it will not affect the judgment of other countries.

Recently, the U.S. Secretary of State ran to Sri Lanka to incite relations, and the Sri Lankan Foreign Minister hit him a soft nail. As long as there are benefits, they are all friends. Therefore, China must continue to unleash its advantages in the service trade system.

The advantages of history and geography

China has many advantages in history and geography. A simple example, we have a historical story in ancient times called the ancient Silk Road, this story evolved into the current “Belt and Road”.

The “One Belt One Road” includes three continents and two oceans in the world. After the deterioration of Sino-US relations, especially after the trade war, the “Belt and Road” has helped us a lot. The two major market players, the EU and ASEAN, are using the “Belt and Road” to help us a lot.

Before the trade war with the United States, our trading partners ranked first, the United States, the second European Union, and the third ASEAN.

After a trade war, trading partners ranked first in the EU, second in ASEAN, and third in the United States.

The outbreak in Europe has not been well controlled, and the ranking has changed again, with ASEAN first, the European Union second, and the United States third.

Our exports in the third quarter were very good, and our destinations were basically in the ASEAN and EU markets. Recently, a large number of textile orders from India have also flowed into China.

So don’t underestimate the “Belt and Road” initiative. It makes sense for us to put it forward five years in advance. We must continue to release this advantage.

A gentleman wrote articles always saying that there was no Silk Road in ancient China, which is very strange to me. You say your opinion, it doesn’t matter if you have it or not, we are doing specific things.

China must give full play to its historical and geographical advantages, so as to bring benefits to us and others.

We emphasize on focusing on domestic life, not being closed, but a higher level of openness. While gaining our own benefits, we also bring benefits to others to achieve mutual benefit and win-win results.

We must fully release these four major advantages, continue to ensure China’s development, and strive to reach the level of a moderately developed country by 2035.

In general, the term “new development pattern” has changed before and after. At first, it was called the combination of domestic and international economic cycles, with the domestic as the mainstay. Now, the “domestic cycle as the main body” is adjusted again. When they come, they pay more attention to the possibility of internal problems.

The prudence in the formulation shows that this strategic adjustment will be huge. The adjustment background is a major change in domestic and international conditions, so China must also change at any time.

The above is my understanding of “the new development pattern with domestic and international double cycles as the main body”. These five key points indicate that China will make major strategic adjustments during the “14th Five-Year Plan” period. Share them for your reference, and may have some significance for the strategic adjustment of enterprises.

Thank you everyone.