Impact of external and internal factors on China’s economic growth

Relevance. China is the dominant trading partner for many countries of world. The new plan Chinese economic development in 2021–2035, based on “double circulation” model, has become subject vigorous debate. Research objective. study aims to identify China’s growth drivers before and during COVID-19 pandemic evaluate impact external internal factors growth, taking into account future strategic changes. Data methods. To GDP, we used a factor model GDP components by spending data provided State Bureau Statistics PRC 2007–2020. Results. Over past decade, contribution that shape domestic demand been steadily reduced. decline share net exports was replaced fluctuations shares subsequent periods. evaluations show 2020, 1% 3.56% (in national currency) 2% an increase gross capital formation. Conclusions. caused not only with slowdown imports but also redistribution all primarily sharp reduction household expenditures consumption. promote circulation through personal consumption, it necessary lower savings rate, solve problem income inequality, disposable per capita.