The "dual-circulation" development paradigm was highlighted at the 2020 Annual Meeting of the China Association of International Trade and the International Trade Development Forum held in Jinan, East China's Shandong province.

The world is undergoing major changes unseen in a century and it is of great strategic significance to build a new development paradigm with the two types of circulation reinforcing each other, said Professor Jiang Qingzhe, Party chief of the University of International Business and Economics.

The meeting, which was separated into a major session and five sub-sessions on five specific themes, attracted many renowned scholars, representatives from companies and other industrial leaders to give special lectures and reports.

Chen Jian, former vice-minister of commerce and member of the 12th CPPCC National Committee, proposed seven key research directions at the meeting.

These research directions are trends of globalization; innovation of international trade; global interest adjustment; international exchanges and cooperation; adjustment and optimization on the industrial chain, supply chain and value chain; service trade; and digital economy.

Chen further suggested the China Association of International Trade, or CAIT, adhere to the correct research directions, and put forward research in a solid, rigorous, meticulous, and responsible manner.

Research should be broadly representative, integrate all resources effectively, make full use of research results, and build a leading team to make things work well, Chen added.

The meeting, jointly hosted by the CAIT and Shandong University of Finance and Economics, or SUFE, was held in Shandong University of Finance and Economics in Jinan on Nov 15-16.