China's new development paradigm emphasizes both domestic and international circulations, rather than a closed internal loop, Han Wenxiu, deputy head of the office of the Central Commission for Financial and Economic Affairs said, on Friday.

Speaking at a media briefing on the fifth plenary session of the 19th CPC Central Committee, Han stressed that the new paradigm does not mean giving less importance to opening-up.

According to Han, deep engagement in international circulation is an integral part of this new paradigm.

It means continued opening up at a higher level, greater market access for foreign investment, and better use of both domestic and international markets and resources, he said.

"What can be expected is continued increase of import and export, in foreign investment and in outbound Chinese investment," Han added.