DEVELOPMENT OF INDUSTRIAL SECTORS ORIENTED TO THE DOMESTIC MARKET UNDER SANCTIONS: PROSPECTS FOR APPLYING THE EXPERIENCE OF CHINA IN RUSSIA

In the context of increasing geopolitical tensions, the spread of regionalization trends and the problems of functioning of global supply chains, states are actively improving import substitution strategies towards the formation of production oriented to the domestic market. The problem of developing an import substitution policy with a course towards reorientation to the domestic market, localization of production and creation of own solutions in the field of science and technology is currently relevant in Russia. The purpose of this study is to analyze foreign experience in managing the development of industries oriented to the domestic market under sanctions pressure and the possibilities of its use in Russia. The author chose China as the most suitable country for analysis. The author analyzes the measures of state support for China’s industry, including the «double circulation» strategy, which laid the conditions for the transition from the model of extensive economic growth to intensive, as well as from the export orientation of production to the orientation to the domestic market. It is revealed that the engines of economic growth in China’s new economic policy are innovation and domestic consumption of the middle class of the population. The directions of improving China’s economic policy are highlighted, which can be used in the transformation of industrial management mechanisms in Russia.

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