By Wang Qing, Li Hanqing & Wang Likun, Research Team on “Analysis of and Response to COVID-19 Outbreak”, DRC

Research Report, No. 30, 2020 (Total 5774) 2020-3-9

Abstract: Amid COVID-19 epidemic, some issues have popped up in China’s market circulation, people’s consumption pattern has showed some new characteristics, market circulation industry has made some innovative explorations in the course of responding to the epidemic and reducing losses, and has achieved positive results. The above-mentioned facts are basically in step with the trend and requirements of long-term development of consumption upgrading and market circulation, which may become a new trend, new model and new driving force leading the innovative development of market circulation industry. At present, China’s epidemic prevention and control work has gradually entered the critical stage of laying equal stress on both prevention and control of the virus so as to ensure smooth economic growth. Policy measures need to give prominence to turning crises into opportunities, adapt to new demands and directions for consumption upgrading and innovation, accelerate the application and layout of new technologies, new formats and new models, focus on the combination of long- and short-term goals, accommodate both cost and efficiency, take into account temporary policies and medium- and long-term reform, rely on innovation to further improve the modernization level of circulation system, enhance circulation efficiency and remove the defects relating to innovation and development.

Key words: COVID-19 epidemic, market circulation, innovation and development, policy options