The formation of the theory of a new development paradigm with domestic circulation as the mainstay and domestic and international circulations reinforcing each other is the latest achievement of Xi Jinping's thoughts on socialism with Chinese characteristics in the new era, as well as the latest achievement of the political economy of socialism with Chinese characteristics. Part of the export-oriented economy or regions with a high degree of export-oriented dependence need to study how to transform.Why do we need to transform?First, changes in the international environment. Second, domestic economic growth should be the engine of growth. De-globalization in some developed countries, coupled with the impact of the coronavirus pneumonia epidemic, has severely impacted the foreign circulation of China’s industrial chain, and domestic development and domestic market demand have shifted to the internal circulation as the main body.How to transform?According to the requirements of the Fifth Plenary Session of the 19th CPC Central Committee, the supply side and the demand side need to work together. First, expand domestic demand to promote internal circulation. Second, deploy the innovation chain around the industrial chain, and promote the transformation of technological demand and corresponding technological supply from foreign to domestic. Third, use internal circulation to promote external circulation and make full use of international resources and international markets.
