The Central Economic Work Conference pointed out that efforts should be made to expand domestic demand. We should give priority to restoring and expanding consumption. Enhance consumption capacity, improve consumption conditions and innovate consumption scenarios. Increase the income of urban and rural residents through multiple channels, and support consumption such as housing improvement, new energy vehicles, and old-age services.

1February 18, Zhe, deputy director of the Economic Committee of China People's Political Consultative Conference, said at the 2022-2023 China Economic Annual Meeting that in the past three years, the COVID-19 epidemic has continued to spread, seriously affecting the survival and development of commercial retail, catering, accommodation, tourism, entertainment, transportation, passenger transport and other industries, and the income and employment of hundreds of millions of individual industrial and commercial households and small and micro service enterprises have been affected.

How to effectively stabilize consumption growth? In response to questions from Xinhua News Agency and other media reporters, the responsible comrades of the Central Financial Office said that in recent years, due to the epidemic, the income growth of ordinary people has slowed down, and expectations have declined. People are afraid to spend, and consumption is inconvenient, and the tendency to save money and avoid risks has increased. We should give priority to restoring and expanding consumption, take effective measures to enhance consumption capacity, improve consumption conditions, increase consumption scenarios, and fully release consumption potential.

Take "Strong Measures" to Enhance Consumption Ability

The responsible comrades of the Central Financial Office mentioned that it is necessary to increase the income of urban and rural residents through multiple channels, especially to improve the spending power of low-and middle-income residents with high propensity to consume but greatly affected by the epidemic. Increase consumer credit appropriately. Implement the employment priority policy, support the development of industries and enterprises with strong employability, and timely and effectively alleviate the impact of structural price increases on people in need.

In addition, in view of some restrictive measures in the fields of housing, automobile and service consumption, it is necessary to improve the consumption policy and support the consumption of housing improvement, new energy vehicles, old-age services, education, medical care, cultural and sports services. If the city supports rigid and improved housing demand; Continue to implement the policy of exempting vehicle purchase tax and promote the transformation of automobile consumption from purchase management to use management; Promote the coordinated development of the old-age care industry and the old-age care industry, and accelerate the improvement of the old-age care service system with the coordination of home community institutions and the combination of medical care and support.

"The Central Economic Work Conference regards expanding consumption as a very important task, and it is very necessary to give priority to restoring and expanding consumption. In view of how to increase consumption, our understanding of this piece is not enough now, and it will continue to increase in the future. " Wei Jianguo, vice chairman of China Center for International Economic Exchanges and former vice minister of the Ministry of Commerce, said in an interview with the reporter of 2 1 Century Business Herald on February 9 that it is necessary to re-understand the "troika" of foreign trade, investment and consumption. The recently released outline document for expanding domestic demand has opened the prelude to expanding domestic demand and promoting consumption in China next year. It can be predicted that a new development pattern with domestic large circulation as the main body and dual circulation at home and abroad promoting each other will take shape rapidly in China, that is to say, domestic demand and consumption will be the main strategies in the future.

Wei Jianguo said that China must run a strong domestic market, which is mainly driven by domestic demand, especially by our consumption. In expanding domestic demand, we can't just rely on expanding government public expenditure, nor can we simply rely on expanding government public expenditure to issue some consumer vouchers. There should be more institutional arrangements in guiding consumption. The most fundamental thing to promote consumption is to persist in promoting employment and enhance the confidence of market participants in small and medium-sized enterprises.

Actively resume contact, aggregation and mobile consumption.

12 18, Zhe, deputy director of the Economic Committee of the Chinese People's Political Consultative Conference, said at the 2022-2023 China Economic Annual Meeting yesterday that next year, efforts should be made to improve residents' basic consumption and traditional consumption and actively restore contact, aggregation and mobile consumption. Zhe said that according to the deployment of the Central Economic Work Conference, it is necessary to ensure the optimization and adjustment of epidemic prevention and control policies, ensure a smooth transition and stable social order, and pay close attention to guiding the business service industry to resume work, production, market and business, and look forward to the recovery growth of residents' consumption next year.

Zhe also mentioned that to expand domestic demand, we must strive to increase residents' income and improve the consumption environment. First of all, it is necessary to increase residents' income through multiple channels and continuously enhance residents' spending power. In 2020-202 1 year, the average annual real growth rate of per capita disposable income in China was 5. 1%, which was basically synchronous with economic growth, but obviously lower than the average annual real growth rate of per capita disposable income in 20 13-20 19 years before the epidemic.

Zhe pointed out that with the improvement of residents' income level and the adjustment of industrial structure, the proportion of service consumption in residents' consumption has been increasing. At present, service expenditure has accounted for about 45% of the per capita consumption expenditure of Chinese residents. From the demand side, next year, we will vigorously cultivate and develop service consumption such as pension, cultural tourism, medical and health care, education and sports, and domestic service. From the supply side, we should actively promote the development of happiness industries such as pension, culture, tourism, health, education and sports.

Recently, documents on expanding domestic demand and promoting consumption have also been issued. 65438+February 14, the Central Committee and the State Council issued the Outline of the Strategic Plan for Expanding Domestic Demand (2022-2035), and on June 65438+February 15, the National Development and Reform Commission issued the 14th Five-Year Plan for Expanding Domestic Demand.

Judy, deputy director and researcher of the Research Office of Consumer and Cultural Sociology, Institute of Sociology, Chinese Academy of Social Sciences, said in an interview with the reporter of 2 1 Century Business Herald on February 9 that she believed that a consumption hotspot next year should include new digital consumption. By improving the supply chain and innovating business models, consumption will be more convenient and trendy, and the consumer price will be reduced to some extent, which can meet different levels and diversified consumer demand. In addition, during the epidemic, people began to pay more attention to their own health and ecological environment, which also led to the formation of some active and healthy lifestyles and paid more attention to green and low-carbon consumption. There are many policies to support the consumption of new energy vehicles in the past two years, and the Central Economic Work Conference also mentioned supporting the consumption of new energy vehicles. The purpose of these consumption promotion policies is to improve the supply-side constraints on people's consumption and help restore and expand consumption.

Wei Jianguo predicted that the first wave of consumption in 2023 will appear around the Spring Festival, during which there will be a large-scale population movement. Before the Spring Festival, it is necessary to implement various policies to support consumption, such as supporting improved housing, supporting the consumption of new energy vehicles, and supporting old-age services, so as to promote the formation of the first consumption climax during the Spring Festival in 2023. By 2023, especially in the second quarter, with the optimization and full liberalization of epidemic prevention and control, the potential of China's consumer market will explode, and there may be unimaginable consumption recovery speed.