Challenges and Causal Analysis in Modern Circulation System Development

Xiuqing Zhang ()
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Xiuqing Zhang: China Center for International Economic Exchanges (CCIEE)

Chapter Chapter 4 in Building a High-quality Modern Circulation System of China, 2026, pp 81-90 from Springer

Abstract: Abstract Since 2013, China has made significant progress in developing its circulation system. A unified national market has largely taken shape, while the commercial distribution system and the integrated transportation and logistics network have undergone continuous optimization. The efficacy of technology-enabled empowerment has become increasingly evident, and the supporting frameworks of law, credit, and finance have steadily improved. However, the enduring influence of the “overemphasizing production at the expense of circulation” mindset has resulted in the construction of China’s modern circulation system significantly lagging behind its manufacturing capacity. Consequently, “high circulation costs and low efficiency” have emerged as a major bottleneck in establishing the new “dual circulation” development paradigm at the current stage, adversely impacting the speed, quality, and overall efficiency of the national economy. Comprehensively analyzed, the direct causes of high costs and low efficiency within China’s circulation system lie in the insufficient strength of modern circulation entities, operational inefficiencies, inadequate technological empowerment, and shortcomings in regulatory oversight and the business environment. The root cause stems from the incomplete clarification of the relationship between planning mechanisms and market forces, coupled with insufficient progress in industrial structure upgrading and adjustment.

Date: 2026
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DOI: 10.1007/978-981-95-8517-5_4

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