How will China s economy do this in 2024丨How to stimulate potential consumption

Mondo Finance Updated on 2024-02-02

Original title: How to stimulate potential consumption (Policy Q&A, China's economy will do this in 2024).

Consumption has become the main engine of China's economic growth over the years. ** The Economic Work Conference emphasized that "it is necessary to stimulate potential consumption, expand profitable investment, and form a virtuous circle in which consumption and investment promote each other." "In 2024, how to stimulate potential consumption?

Hong Yong, an associate researcher at the Institute of E-commerce of the Ministry of Commerce Research Institute, believes that in 2023, China will hold a series of activities to promote the continuous recovery and expansion of consumption, which has played an important supporting role in the recovery of the national economy. On the whole, China's consumption fundamentals have been improving for a long time, and there is broad room for consumption growth. In addition, new business forms and models are emerging, bringing new impetus to consumption growth. However, it should also be noted that there is still room for improvement in the current residents' consumption capacity and willingness to consume.

Xu Xingfeng, director of the Department of Market Operation and Consumption Promotion of the Ministry of Commerce, said that various policies will be implemented to stimulate potential consumption, promote consumption from post-epidemic recovery to continuous expansion, and provide strong support for consolidating and enhancing the economic recovery momentum and better meeting the needs of the people for a better life.

Do a good job in the "2024 Consumption Promotion Year" activity. Adhere to the two-wheel drive of "policy + activity", highlight key categories, festivals and seasons, continue to organize and carry out a variety of consumption promotion activities, and create more new scenarios for the integration of business, tourism, culture, sports and health.

Cultivate and expand new types of consumption. Vigorously develop digital consumption, support the healthy development of new formats and models such as live-streaming e-commerce and instant retail, expand green consumption, promote healthy consumption, and promote the consumption of domestic "trendy products".

Stabilize and expand traditional consumption. Implement the policies that have been introduced, plan more incremental policies, and form a "combination punch" to promote consumption. The whole chain promotes automobile consumption, expands household consumption, promotes household appliance consumption, and organizes the "2024 National Household Appliance Consumption Season".

Promote the expansion of service consumption. Improve supporting policies and measures, and work with relevant departments to hold "service consumption season" activities. Promote the high-quality development of the catering industry and hold a series of activities in 2024. Actively expand the consumption of housekeeping services, and strive to improve the quality of housekeeping services.

Optimize the consumption environment. In cities, we will continue to deepen the cultivation and construction of international consumption center cities, and gradually improve the urban commercial system led by pedestrian streets, supported by smart business districts, and based on convenient living circles. In rural areas, we will speed up the completion of rural business shortcomings, develop rural e-commerce with high quality, build a well-equipped and two-way smooth rural circulation network, and release the potential of rural consumption.

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