Abstract: COVID-19 has changed the pattern of world economic growth. China has taken the lead in achieving economic recovery in the world's major economies, showing unique institutional advantages, substantial material and technological foundation accumulated since the reform and opening up, huge market and domestic demand, and huge human capital and human resources. However, it should also be noted that the external environment faced by China during the 14th Five Year Plan period may be more severe and complex, and China's medium and long-term economic development faces many challenges. In order to actively respond to changes in the internal and external environment and take the initiative in development, we should accelerate the formation of a new dual circulation development pattern, and promote the dynamic balance between total supply and total demand to a higher level through the upgrading of demand structure and supply capacity. We should deepen the reform of market-oriented allocation of factors, promote the innovation of economic development system and mechanism of urban agglomeration, create a market-oriented, legalized and international business environment, pay close attention to the implementation, and provide institutional guarantee for accelerating the formation of a new development pattern of dual circulation and promoting high-quality economic development during the 14th Five Year Plan period.
