Industry experts: In response to tariff barriers, China must accelerate the strategic shift to "taking domestic circulation as the mainstay and promoting dual circulation of domestic and international markets."

Wallstreetcn
2025.04.13 15:16

Recently, Yu Yongding, a member of the Chinese Academy of Social Sciences, stated that there are two urgent issues that need to be addressed for China. On one hand, we need to maintain a certain growth rate in trade surplus to achieve a GDP growth target of around 5%; on the other hand, due to the long-term maintenance of trade surplus, by the end of 2024, China will have accumulated USD 3.2 trillion in net overseas assets. These assets are also facing risks due to factors such as geopolitical issues. In response to tariff barriers, China must accelerate the strategic shift to "domestic circulation as the mainstay, and dual circulation of domestic and international" rather than resorting to measures such as devaluing the yuan, increasing export subsidies, and export tax rebates

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