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China has laid out its major social and economic development targets for the 14th Five-Year Plan (2021-2025) period. China will speed up a new development pattern where domestic and foreign markets can boost each other, known as Double Development Dynamics. But what does it mean for China's economy? With the uncertainties in geopolitics and the spread of the COVID-19 pandemic, what are the challenges and opportunities for China? On the sidelines of this year's China Development Forum, I talked to Prof. Hai Wen, dean of Peking University's HSBC Business School. Our conversation begins with the current stage of reform and opening-up policy.

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