Study on the Measurement and Evaluation of the Domestic Circular Development Level of China's Economy

Abstract

Since reform and opening up, China has actively promoted the development of the international economic cycle, but there are still some areas that are at a disadvantage in the value and supply chain in long-term international transactions. Although the New Crown epidemic has had a huge impact on the global economy, the domestic economy has gradually recovered and international trade has recovered. Against this background, General Secretary Xi Jinping has proposed to accelerate the construction of a new development pattern “with the domestic cycle as the main body and the domestic and international cycles promoting each other”. This paper takes the demand side of the domestic cycle of China's economy as the entry point, selects the consumption base, consumption willingness, consumption structure and other specific indicators of 31 provinces in China from 2015 to 2020, and adopts the entropy value method to study China's domestic cycle at this stage. The study finds that (1) there are obvious regional differences in China's economic domestic cycle, and the eastern and central regions are important contributors to the domestic cycle; (2) the development of China's economic domestic cycle is in a positive trend after the epidemic; (3) the level of economic exchanges between regions is low, and there is the problem of unbalanced and insufficient development. An in-depth understanding of the role and pattern of China's economic double cycle in the domestic economy will help grasp the actual level of the new development pattern.