2024 is a year full of infinite possibilities for the Chinese consumer market. This year, we ushered in the "consumption boost year", Hong Yong, associate researcher of the Institute of E-commerce of the Ministry of Commerce, which will be an important year to stimulate consumption potential, expand the scale of consumption, and improve the quality of consumption.
After several years of economic volatility, consumer confidence has gradually recovered, and the consumer market has shown new vitality. With the emergence of new formats and models, the new impetus of the consumer market is continuing to increase. This year, we will see more creative and innovative consumption scenarios, including new models that integrate business, tourism, culture, sports and health, new business formats such as digital consumption, live-streaming e-commerce, and instant retail, as well as new hot spots such as green consumption, healthy consumption, and domestic "trendy products" consumption.
However, we also understand that there is still room for improvement in the current residents' spending power and willingness to spend. Xu Xingfeng, director of the Department of Market Operation and Consumption Promotion of the Ministry of Commerce, said that we should do a good job in the implementation of various policies, stimulate potential consumption, and promote consumption from post-epidemic recovery to continuous expansion.
To this end, the Ministry of Commerce will take a series of measures. First of all, through the "2024 Consumption Promotion Year" activity, we will create more new consumption scenarios that integrate business, tourism, culture, sports and health, highlight key categories, festivals and seasons, and hold a variety of consumption promotion activities. Secondly, we will cultivate and expand new types of consumption, vigorously develop new formats and new models such as digital consumption, live-streaming e-commerce, and instant retail, and at the same time expand green consumption, healthy consumption, and promote the consumption of domestic "trendy products". In addition, stabilizing and expanding traditional consumption is also an important part, and the policies that have been introduced will be implemented, more incremental policies will be planned, and a "combination punch" will be formed to promote consumption, promote automobile consumption, expand household consumption, promote household appliance consumption, and organize the "2024 National Household Appliance Consumption Season".
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.
In order to further optimize the consumption environment, the Ministry of Commerce will also carry out a series of activities in cities and villages. In cities, we will deepen the cultivation and construction of international consumption center cities and improve the urban business system; In rural areas, we will speed up the completion of commercial shortcomings, develop rural e-commerce, and release the potential of rural consumption. These initiatives will provide consumers with better goods and services and further stimulate their consumption potential.
Overall, 2024 is a year full of opportunities for China's consumer market. With the implementation of policies and the emergence of new business formats and models, consumers' confidence and willingness will be further enhanced. This year, we look forward to seeing more innovation and dynamism emerge in the marketplace to make a greater contribution to economic prosperity. Let's look forward to this year full of infinite possibilities!