"One Belt and One Road" Strategy and the Economic Development Study under the New Normal in China

One Belt and One Road is new opening strategy to promote sustainable economic development under the new normal in China. It embodies the Chinese wisdom of top-level design of "promoting reform through opening up, promoting development through reform and promoting transformation through development". This paper considers that opening up to the outside world is an opportunity for domestic development, which releases space for domestic development and provides a channel for releasing excess capacity and a driving force for optimizing industrial structure. Domestic reform is the basis of opening up to the outside world. In particular, the establishment of market mechanism and institutional rules is fundamental to ensuring the quality of opening up to the outside world. In the implementation of the strategy, we should build the national value chain and the china-led global value chain through the balanced development of the domestic regional economy and the efforts of international regional economic integration and the optimization and upgrading of the industrial structure, so as to enable the Chinese economy to participate in the international economy and enhance the competitiveness of the Chinese economy.