Domestic, External Demands: Dual-Engines of China’s Growth

JIANG Xiaojuan

Deputy Director, Research Office of the State Council

Abstract:

China’s economic growth has been driven by the dual-engine of domestic demand and external demand. Among which, domestic demand is the main engine originated from China’s huge domestic market. Due to the advantage of openness, external demand has a growing contribution to economic growth. For a long term, China will remain in the stage of rapid industrialization, urbanization, marketization and internationalization, therefore China will further expand its domestic consumption and external demand. The undergoing institutional reform will also contribute to the coordinated development of domestic demand and external demand.

Key Words:

economic growth, domestic demand, external demand

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