When global supply chains wobble and tech rivalries heat up, stability feels distant. China’s answer? High-quality development that builds resilience at home, ensuring steady growth no matter the external headwinds.
Self-Reliance through Innovation
This spring, President Xi visited Luoyang Bearing Group, once known for manual, lower-end production. Today, 70% of its output comes from high-precision bearings. It’s a microcosm of China’s shift: mastering advanced manufacturing to offset external pressures.
Firms like Semiconductor Manufacturing International Corporation and HiSilicon are racing to design and produce their own chips, driven by past supply shocks. Limits on space cooperation spurred the Chinese mainland to build the Tiangong station and plan lunar missions. Jet engine tech barriers accelerated the development of the C919 passenger plane. Recent defense innovations at the September parade underscore this drive too.
Power of a Vast Home Market
With over 1.4 billion residents spending around 48.8 trillion yuan on goods last year, China has the world’s second-largest consumer base. This huge demand cushions the economy against global fluctuations and underpins the “dual circulation” model—fueling domestic growth while staying globally connected.
Merchants in Yiwu Market, once hit by U.S. tariffs, responded by building their own brands and exploring new overseas customers. In tech hubs like Shenzhen, drone makers source almost every part within a 50-kilometer radius—helping DJI capture over 70% of the global consumer drone market.
Advancing Dual Circulation
Beyond slogans, action drives progress. Trade-in programs for home appliances and vehicles have triggered billions in sales, turning consumption into a growth engine. In an era of uncertainty, China’s blueprint shows how building from within can create certainty—and offers lessons for economies worldwide.
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China's high-quality development: Certainty amid uncertain times
cgtn.com
