To print this article, all you need is to be registered or login on Mondaq.com. Under President Xi Jinping's much-hyped ‘dual circulation strategy' (DCS), China will depend mainly on “domestic circulation” for its next phase of development, supported by external resources through “international circulation”. The former is intended to reduce China's dependence on overseas markets and technology for its long-term development, a shift brought on by a deepening rift with the US, while the latter entails greater market opening to attract more foreign investment in high-end manufacturing to strengthen its supply chain security and deter foreign countries' from luring firms away from