China's advancement in technology will not only be crucial for its own growth, but offers benefits to the wider world, breaking the technology monopoly by many developed countries and lowering the prices of key technologies, said Li Daokui, an economist with Tsinghua University and a national political advisor.

On this year's growth target, ACCEPT researcher Li Keaobo said "the government is mapping out space for the tapering-off of stimulus policies introduced last year in view of the effective containment of the pandemic and gradual economic recovery."

The new development paradigm with dual circulation has two backgrounds. One is the complex international environment brought up by a large population leading up to getting big before getting rich. The other is the inevitable development norm of a major economy.

We are happy to announce that the 3rd international conference in Government and Economics will be held on April 24, 2021 in Beijing, China.

JGE now invites submissions of papers in the above areas or other relevant fields. Best Paper Awards: $3000 each.

Consumption is expected to become a major driving force for China's economic growth in 2021 with more supportive policies in place, while the country's fiscal spending is likely to focus more heavily on public services to improve livelihoods, particularly in education, health and elderly care, to keep the economy stable and within a proper range, experts said.