The most direct purpose of forming a strong domestic market is to take advantage of my country's super-large-scale market and release the potential of the domestic market.
In order to solve the current problems in terms of total volume, structure and system, we must work hard to cultivate a complete domestic demand system, deepen supply-side structural reforms, build a high-standard market system, and continuously release the three aspects of total volume, structure and system. The systematic potential of the company, thereby expanding the breadth, breadth and depth of the hyper-scale market.
"The 14th Five-Year Plan for National Economic and Social Development of the People's Republic of China and the Outline of Long-term Goals for 2035" proposed that during the "14th Five-Year Plan" period, it is necessary to "speed up the cultivation of a complete domestic demand system" and "form a strong domestic market."
We must see that the most direct purpose of forming a strong domestic market is to give full play to my country's super-large-scale market advantages, in order to cultivate my country's new international cooperation and competitive advantages, the core of which is to release the domestic market potential.
The implication of the release of potential is that due to various factors, there is still a lot of room to tap the stock and increase of my country's super-large-scale market advantages.
It is necessary to scientifically identify where my country's market potential comes from, and how to release it through policy adjustments, so as to achieve "targeted and precise policy."
In general, we must start from the two levels of investment and consumption, exert efforts from the perspectives of supply and demand, expand market capacity by cultivating a complete domestic demand system, optimize market structure through deepening supply-side structural reforms, and build high standards The market system improves the market system, and finally resolves the contradictions of total inefficiency, structural inhomogeneity, and system asymmetry, and releases the three systemic potentials of total, structure and system with a three-dimensional policy system to expand the super-large scale The breadth, breadth and depth of the market have laid a solid foundation for smoothing the domestic cycle and building a new development pattern.
Exploit the total potential——
Cultivate a complete domestic demand system
The super-large domestic market is a typical feature of my country's economic operation.
In recent years, my country has taken advantage of the scale of the domestic market to accelerate the implementation of the strategy of expanding domestic demand, effectively helping to achieve the goal of macroeconomic operations.
But what we must see is that we still have the problem of inefficient release of domestic demand, which needs to be adjusted through macroeconomic policies to build a strong domestic market with strong consumption and investment demand.
One is to activate stock consumption demand.
It is necessary to speed up the implementation of policies related to the overall promotion of consumption in response to my country's further release of stock consumption blocking points, and smooth the "microcycle" of the consumer market.
In this process, it is necessary not only to conform to the trend of consumption upgrading, to further promote the consumption growth of product upgrading and upgrading, but also to conform to the trend of consumption structure upgrading, to remove related obstacles that inhibit service consumption, and to accelerate the cultivation of new service consumption, expansion and upgrading Information consumption: It is necessary to promote the construction of a modern commerce circulation system, further improve circulation efficiency and reduce circulation costs, but also promote the balanced development of finance and real estate with the real economy, and promote the gradual release of stock consumption capacity.
The second is to continuously optimize the investment structure.
From an investment perspective, we still have shortcomings such as imperfect infrastructure and high transaction costs.
In this regard, it is necessary to highlight investment priorities, improve investment efficiency, optimize investment quality, and lay a solid foundation for the sustained and stable expansion of my country's domestic market.
For example, it is necessary to strengthen the construction of major scientific and technological infrastructure, make up for shortcomings, and provide continuous power support to promote the formation of a strong domestic market; to promote the transformation and upgrading of traditional industries, and accelerate the formation of equipment upgrades for industrial enterprises with a total asset scale of more than 120 trillion yuan. Renovate and upgrade the huge investment market; focus on promoting the coordinated development of urban and rural areas, promote effective investment, and continuously expand the scope of urban and rural markets.
In addition, in order to meet the people's yearning for a better life, we will continue to improve the efficiency of public services such as education, medical care, elderly care, and childcare, and effectively form a high-quality public service market system.
The third is to balance various demand relationships.
The core of forming a strong domestic market is to gradually release the potential of domestic demand. It is necessary to pay attention to the internal and inter-cycle balance of various needs in order to enhance the sustainability of domestic demand potential mining.
First of all, we must pay attention to the cross-cycle design of expanding consumption policies and promoting investment policies to evenly release the potential of domestic demand to ensure the sustainable growth of domestic demand in the long-term.
Second, we must handle the intertemporal allocation of investment and consumption, and maintain a desirable savings rate, investment rate, and consumption rate to promote the long-term and healthy development of domestic demand.
In addition, it is necessary to build a high-level open platform, and pay special attention to expanding imports while stabilizing exports, so as to create a positive interaction between domestic and foreign demand.
Unleash structural potential——
Deepen supply-side structural reforms
my country has a large-scale domestic market, but at the same time, there are structural contradictions in industrial supply, urban and rural areas, and income distribution, and the overall structure is heterogeneous.
Therefore, we must organically combine the implementation of the strategy of expanding domestic demand with the deepening of supply-side structural reforms to break and resolve these structural contradictions, improve the adaptability of the supply structure to the demand structure, gradually release the structural potential, and effectively expand my country's ultra-large-scale market. The width.
One is to optimize the effective supply of the industry.
What cannot be ignored is that the structural contradictions of my country's industry still exist, resulting in the difficulty of satisfying domestic effective demand, the creation of emerging demand, and the difficulty of smoothing the supply and demand chain. It must be driven by innovation, high-quality supply, and high-level circulation to lead and create new demand.
First of all, it is necessary to advance the advancement of the industrial base, modernize the industrial chain, improve the modernization level of the industrial chain supply chain and the quality of high-end product supply, and build a high-quality modern industrial system.
Secondly, actively develop the modern service industry, promote the upgrading of the life service industry to high-quality and diversification, encourage the development of new service models and new formats, and accelerate the digitalization of the service industry.
Thirdly, unblock the industrial chain and supply chain circulation, realize the effective connection of upstream and downstream, production, supply and marketing, and promote the coordination of the relationship between agriculture, manufacturing, service industry, energy resources and other industries.
The second is to expand the urban and rural regional markets.
The uneven development of urban and rural areas is one of the obstacles restricting my country's construction of a unified domestic market. The implementation of a coordinated regional development strategy will greatly release the potential for structural domestic demand between regions.
First of all, it is necessary to further tap the market potential in the central and western regions, create new growth poles and regional consumption centers in the central and western regions, balance the relocation of the manufacturing industry chain to the central and western regions, and strengthen the relationship between the different levels of industrial chains in the region. Integration; secondly, new urbanization should be used as a starting point to drive investment and consumer demand, promote the integrated development of urban agglomerations and metropolitan areas, give play to the functions of central cities’ demand gathering and demand creation, and expand new space for domestic demand markets in urban areas.
In addition, it is necessary to fully tap the potential of domestic demand in counties and townships, fully implement the rural revitalization strategy, promote the construction of rural infrastructure, optimize the rural logistics distribution system, effectively standardize the rural consumer market, and promote the upgrading of rural consumption.
The third is to promote the adjustment of income distribution.
In view of the current situation of uneven income distribution, we must build a more fair and balanced income distribution system to further increase the proportion of labor remuneration in the primary distribution, increase the income of low-income groups, expand middle-income groups, and increase the consumption margin of the whole society. Tendency to promote the expansion of consumption in the whole society.
In this process, it is necessary to improve the wage system to ensure that the wage income of workers increases with economic development and labor productivity increases, and the mechanism of reasonable wage growth is improved; the distribution policy system according to factors must be improved, and the property of urban and rural residents must be improved through multiple channels income.
At the same time, it is necessary to improve the redistribution mechanism, increase the intensity and accuracy of taxation, social security, transfer payments, etc., play the role of the third distribution, and improve the pattern of income and wealth distribution.
Tap the institutional potential——
Building a high-standard market system
The key to forming a strong domestic market lies in deepening the reform of the economic system. It is necessary to remove the system and mechanism barriers that hinder the market-oriented allocation of production factors and the circulation of goods and services, continuously release the systemic potential, smooth market circulation, clear policy blockages, open up circulation arteries, and promote the market. Improve quality and efficiency, and effectively tap the depth of my country's ultra-large-scale market.
The first is to consolidate the basic system of the market system.
It is necessary to improve the property rights protection system through the whole process, strengthen the construction of the property rights protection laws and regulations system and the judicial guarantee system; fully implement the market access negative list system, implement the "national one list" management model; comprehensively improve the fair competition system to enhance fairness The rigid constraints of the competition review system build a foundation of governance rules for the effective operation of my country's ultra-large-scale market.
The second is to build a market-oriented allocation system mechanism for factors.
It is necessary to promote the efficient allocation of factor resources such as land, labor, capital, knowledge, technology, and data, expand the scope of factor market allocation, improve the factor market system, promote the construction of factor market systems, and realize factor price market decision, flow autonomously and orderly, and efficient allocation Fairness provides basic support for the formation of a unified domestic market.
The third is to improve the market environment and quality.
It is necessary to improve the quality of goods and services, implement in-depth quality improvement actions, further give full play to the leading role of the brand, and promote the innovative development of the commodity market; strengthen the protection of consumer rights, strengthen the construction of consumer rights protection systems, and promote the facilitation of consumer dispute resolution; strengthen the construction of market infrastructure Enhance the level of interconnection and intelligence of market infrastructure, guide the healthy development of platform enterprises, and provide high-quality guarantee for the formation of a strong domestic market.
The fourth is to implement high-level market opening.
It is necessary to form a gravitational field for global resource elements, attract global resource elements to agglomerate domestically through a large domestic cycle, orderly expand the opening of the service industry market, focus on promoting the opening of financial and social service markets, and build a system and mechanism for the integration of domestic and foreign trade.
At the same time, it is necessary to promote the opening of rules and other institutions, promote the integration of domestic and foreign standards for consumer products, and accelerate the construction of a new development pattern.
The fifth is to improve the modern market supervision mechanism.
It is necessary to adapt to the realistic requirements of market economy development, promote comprehensive and coordinated supervision, focus on strengthening the long-term and post-event supervision mechanism, strengthen key commodity market price supervision and factor market transaction supervision, improve the self-discipline mechanism and supervision mechanism of legal integrity, and improve the social supervision mechanism , To strengthen the supervision of regulatory agencies, maintain market safety and stability, so as to create a good environment for promoting the healthy operation and continuous expansion of my country's strong domestic market.
The author is Zeng Zheng, a researcher at the Market and Price Research Institute of China Academy of Macroeconomics