The Politburo meeting of the CPC Central Committee held a few days ago emphasized that "consumption should play a leading role in the economic cycle", which is an important task deployed on the basis of a comprehensive analysis of the economic situation.

Contact the General Office of the State Council not long ago issued the "Opinions on Further Unleashing Consumption Potential and Promoting the Continued Recovery of Consumption", and put forward 20 key measures in five areas.

In order to consolidate and develop a large market of more than 1.4 billion people, the "combination punch" to promote consumption has attracted widespread attention at home and abroad.

　　From the perspective of the operation of the national economy, consumption has a lasting driving force for economic development. It is an important engine for smoothing the domestic cycle, and it is also a key link to form a higher-level dynamic balance in which demand drives supply and supply creates demand. It is related to the national economy and people's livelihood.

Judging from the current economic situation in China, the triple pressure of demand contraction, supply shock, and weakening expectations has not changed. Some unfavorable factors are still evolving in a complex manner, and new downward pressure has further increased.

In the face of the situation, tasks and severe tests, we must not only have a full understanding, but also have to deal with it.

It is undoubtedly crucial to do everything possible and comprehensively implement policies to unleash the potential of consumption and promote the continuous recovery of consumption.

　　Data from the National Bureau of Statistics shows that in 2021, my country's final consumption expenditure growth will contribute 65.4% to economic growth, which is higher than the contribution rate of gross capital formation. It is the main driving force for the stable recovery of the national economy, and the "ballast stone" role of consumption is prominent.

In the first quarter of this year, thanks to the transformation and upgrading of traditional consumption, the release of new consumption potential, and the strong "blood replenishment" of online consumption, the overall market sales maintained steady growth.

However, since March, the domestic epidemic has occurred frequently, which has had a greater impact on the consumer market.

In March, the total retail sales of consumer goods fell by 3.5% year-on-year.

Residents' travel has been significantly reduced, and contact and clustered consumption has been greatly affected, and the foundation for continued consumption recovery still needs to be consolidated.

　　Among the key measures put forward in the "Opinions", the top one is "enhancing the efforts to help enterprises in order to protect market entities", which is a key to promoting the orderly recovery and development of consumption and thus stabilizing the economic fundamentals.

As the new crown pneumonia epidemic directly hits the consumer side, small, medium and micro enterprises and individual industrial and commercial households, it has a great impact on low-income groups and basic people's livelihood.

At present, there are more than 150 million market entities in my country, carrying hundreds of millions of people to work and start businesses.

If the market players are retained, employment will be retained; if there is employment, there will be income and consumption, and economic growth will be promoted.

The central government and local governments have introduced relief measures such as tax cuts and fee reductions, and delayed payment of social insurance premiums. Some food delivery platforms and other related companies have also responded positively, helping small and medium-sized merchants to tide over difficulties by reducing commissions.

　　Practice has shown that tax cuts and fee reductions are a direct and effective way to help enterprises get relief.

All localities must also take into account the actual situation and introduce effective measures such as tax and fee reductions and exemptions in accordance with the law, so that the intensity of tax and fee reductions will only increase and not decrease, so as to stabilize market expectations.

In addition, the financial system must also take various measures such as lowering interest rates and reducing fees to make profits to the real economy, provide financing support to enterprises in industries seriously affected by the epidemic, and avoid industry-specific loan restrictions, loan withdrawals, and loan suspensions.

　　Stabilizing consumption growth and promoting consumption upgrading is a systematic project.

Doing a good job in ensuring the supply and price of basic consumer goods, promoting the quality and upgrading of physical consumption, continuing to expand cultural tourism consumption, fully tapping the consumption potential of counties and townships, reasonably increasing public consumption, and creating a safe, trustworthy and honest consumption environment, etc. The important work of the "stone" component.

　　It should be noted that the impact of the epidemic on consumption is phased. With the effective control of the epidemic and the gradual emergence of policy effects, the normal economic order will be restored quickly, and consumption will gradually pick up.

my country has the world's largest domestic market with a population of more than 1.4 billion and a middle-income group, and has policy support and work deployment that takes into account both the near and far, and the coordinated efforts. The fundamentals of long-term improvement in consumption will not change.

In this regard, we should have full confidence.

　　Jin Guanping