Prioritize the recovery and expansion of consumption (better coordinate supply-side structural reform and expansion of domestic demand)

  The Central Economic Work Conference pointed out that the recovery and expansion of consumption should be given priority.

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 elderly care services.

  To implement the spirit of the Central Economic Work Conference, we must firmly implement the strategy of expanding domestic demand, accurately grasp the development laws of the domestic market, continuously improve the quality of domestic supply, activate the potential of market demand, promote the formation of a strong domestic market, and better play a supporting role in economic development.


Continuously improve the level of supply quality and release consumption potential

  Recently, Fuzhou City, Fujian Province launched the "Huiju Rongcheng Fujian Business Travel" New Year's Eve shopping promotion series of consumption promotion activities. 1,000 online and offline two-way efforts were made to create promotional hotspots and stimulate market vitality through the three-party linkage between government, bank and enterprise.

  Hainan Province has launched the outlying island tax-free New Year’s Eve carnival season, which will last until February 5, 2023. “There are activities every day and discounts every week,” and the New Year is not closed.

  In order to speed up the recovery and recovery of the consumer market, in conjunction with the consumption season at the end of the year and the beginning of the year, many places have successively held various consumption promotion activities to present people with a variety of consumption feasts.

  Since the 18th National Congress of the Communist Party of China, the policy of expanding domestic demand and promoting consumption has been solid and effective, with remarkable results.

In 2021, my country's total retail sales of consumer goods will reach 44.1 trillion yuan, an increase of 1.1 times compared to 2012.

The "main engine" of consumption provides strong support for building a new development pattern, promoting high-quality development, and creating a high-quality life.

From January to November this year, the total retail sales of consumer goods in my country was 39919 billion yuan.

  Specifically, the proportion of my country's final consumption expenditure in GDP has remained above 50% for 11 consecutive years.

Traditional consumption such as housing and transportation consumption has grown significantly, the per capita housing construction area of ​​urban residents has steadily increased, and the sales of new cars have ranked first in the world for 13 consecutive years.

New forms of consumption and new models are developing rapidly. In 2021, online retail sales of physical goods will account for 24.5% of total retail sales of social consumer goods, and per capita service consumption expenditures will account for 44.2% of per capita consumption expenditures.

  "Recovering and expanding consumption is the real need to meet the people's yearning for a better life." Jing Linbo, president of the Chinese Academy of Social Sciences Evaluation, said that my country's economy has shifted from a stage of high-speed growth to a stage of high-quality development, and the development requirements and conditions are showing new characteristics. , especially the people's yearning for a better life has generally shifted from "have it" to "whether it's good or not", and residents' consumption is characterized by diversification, multi-level and multi-faceted.

It is necessary to increase the supply of high-quality products and services, continuously improve the quality of domestic supply, promote a virtuous cycle of supply and demand at a higher level, and fully release the consumption potential.

  According to Jing Linbo's analysis, my country's current expansion of consumption is facing some constraints.

From the supply side, the innovation capabilities of market entities cannot fully meet the requirements of high-quality development, and the individualized and diversified consumption needs of the masses have not been effectively met; from the demand side, there is a large gap between urban and rural regional development and income distribution. Affected by the epidemic for several years, ordinary people's income growth has slowed down, their expectations have fallen, they are afraid to consume, it is inconvenient to consume, and their tendency to save money to avoid risks has increased.

  Experts said that, on the whole, the opportunities for my country's expansion of consumption generally outweigh the challenges.

my country has a population of more than 1.4 billion, and its per capita GDP has exceeded US$12,000. It is the most potential consumer market in the world.

Looking forward to the future, with the optimization and upgrading of residents' consumption combined with modern technology and production methods, my country's consumer market will continue to grow and expand.

The socialist system with Chinese characteristics has significant advantages, the ability of macroeconomic governance continues to improve, reform and innovation continue to breed new development momentum, the construction of a unified national market is accelerated, the environment for commodity and factor circulation systems continues to improve, and the quality and allocation of production factors are significantly improved. The market space is getting wider.

Satisfying and creating consumer demand through institutional innovation, technological innovation, and product innovation can continue to stimulate new consumption momentum.

Increase residents' income through multiple channels and enhance consumption motivation

  When the pockets are bulging, consumption will be motivated.

Residents' income is not only directly linked to people's consumption ability, but also related to consumption willingness and confidence.

  Experts said that it is necessary to increase the income of urban and rural residents through multiple channels, especially to increase the consumption capacity of low- and middle-income residents who have a high propensity to consume but are greatly affected by the epidemic.

Appropriately increase consumer credit.

Implement the detailed employment priority policy, support the development of industries and enterprises with a strong ability to absorb employment, and timely and effectively alleviate the impact of structural price rises on the poor.

  The Central Economic Work Conference clearly stated that "increase the income of urban and rural residents through multiple channels".

Ning Jizhe, deputy director of the Economic Committee of the 13th National Committee of the Chinese People's Political Consultative Conference, said that from 2020 to 2021, the average annual real growth rate of per capita disposable income of residents across the country is 5.1%, which is basically in line with economic growth, but significantly lower than the pre-epidemic period from 2013 to 2019. The average annual real growth rate of per capita disposable income of residents is 7.1%. It is necessary to better coordinate epidemic prevention and control and economic and social development, promote better economic recovery and development, and increase residents' various incomes in a targeted manner.

  At present, the disposable income of urban and rural residents in my country is mainly composed of wage income, transfer income, operating income and property income, of which wage income accounts for more than 50%.

Huang Zhengxue, a researcher at the Land Development and Regional Economic Research Institute of the China Academy of Macroeconomics, believes that to increase income, we must first stabilize and expand employment.

  To stabilize employment and increase income, all localities are going all out.

In November, Shaanxi Province issued the "Implementation Plan on Vigorously Implementing Work-for-Relief to Promote Local People's Employment and Income in Key Projects", requiring that funds in the central and provincial budgets be used to implement a number of key project supporting facilities for industrial Relief-for-work demonstration projects will increase the proportion of labor remuneration to more than 30% of the funds in the central budget, and encourage various financial institutions to increase financing support for the implementation of relief-for-work projects.

  Among the per capita disposable income of residents, net operating income accounted for 16.8%.

In the past three years, small, medium and micro enterprises, individual industrial and commercial households and flexible employees have been greatly affected by the epidemic.

Huang Zhengxue believes that it is necessary to further implement the policy of helping enterprises and benefiting the people, increase the operating income of small, medium and micro enterprises, individual industrial and commercial households, and flexible employees, accelerate the creation of a first-class business environment, establish a fair competition system, and promote the accelerated development of relevant market players.

  In 2021, my country's net transfer income will account for 18.7% of residents' per capita disposable income.

Ning Jizhe believes that this shows that under the impact of the epidemic, the state has strengthened its protection of basic people's livelihood.

It is necessary to continue to expand the coverage under the existing policy framework, and include qualified people in difficulties and low-income groups into the scope of protection, so as to ensure the stable growth of income of these people.

  "Only when the pockets of farmers continue to bulge, can consumer demand be continuously released." Jiang Wenlai, a researcher at the Institute of Agricultural Resources and Agricultural Regional Planning of the Chinese Academy of Agricultural Sciences, said that we must do everything possible to increase employment opportunities for rural laborers so that more rural laborers can work and have money To earn money, we must increase farmers' income through multiple channels and carry out multi-form operations, such as speeding up the development and construction of rural tourism markets to increase farmers' income.

  To enhance consumption capacity, we must make good use of consumer credit financial tools.

Housing, automobiles, and electronic products account for a large proportion of household consumption expenditures, and these expenditures largely rely on loans.

Increasing the issuance of consumer loans will help stimulate potential consumer demand.

At the same time, loans are a double-edged sword, and the appropriateness of product access needs to be considered.

Experts suggest that when banks increase consumer loans, they need to pay attention to preventing systemic risks, flexibly handle the proportion of consumer loans according to their own conditions, increase supervision, and avoid bad debts.

As for the borrowers, they should also do what they can, and they should not blindly consume ahead of time.

Improve consumption promotion policies to stimulate consumption vitality

  Not long ago, the new energy car Cyrus Wenjie M7 was just launched. Xie Yusheng, who lives in Jiangbei District, Chongqing City, couldn't wait to place an order and became the first batch of users of Wenjie M7.

"This car is not only beautiful in appearance, but also has a spacious interior, which can meet the car needs of my family. At the same time, the car can be fueled and powered, and there will be no mileage anxiety when traveling far." According to the data of the China Association of Automobile Manufacturers, From January to November this year, the production and sales of new energy vehicles doubled year-on-year, and the market share reached 25%.

  The advancement of digital technology has promoted changes in cultural consumption patterns, and the live broadcast room is becoming the second stage for cultural performances.

In July of this year, Douyin launched the "Cloud Stage" live broadcast plan for cultural performances, inviting various art performance groups and artists to carry out live broadcasts of cultural performances on Douyin.

As of November, nearly 200 art troupes, including the National Center for the Performing Arts and the Central National Orchestra, have joined the plan, and have conducted more than 1,500 live broadcasts of various performances, with more than 28 million people watching.

  At present, although my country's market sales have been significantly impacted by the epidemic in the short term, the resilience of the consumer market continues to show.

Experts said that in view of some restrictive measures in the fields of housing, automobiles, and service consumption, it is necessary to improve consumption policies and support consumption such as housing improvement, new energy vehicles, elderly care services, education, medical, cultural and sports services.

  Wang Yun, deputy director and researcher of the Institute of Foreign Economics of the China Academy of Macroeconomics, believes that the key to supporting the demand for housing improvement is to effectively lower the threshold for purchasing improved housing, reduce the down payment ratio of the second house in a timely manner, reduce the tax burden on purchases, and promote improvement. Sexual needs are better released.

  In Wang Yun's view, to support the consumption of new energy vehicles, on the basis of implementing the purchase tax exemption policy until the end of 2023, efforts should be made to eliminate bottlenecks in the use process and improve the convenience of use.

Increase the construction of charging and battery replacement facilities, reduce the cost of site rent for facility construction, and encourage the exploration of shared development models for charging facilities.

  Fu Yifu, a senior researcher at Xingtu Financial Research Institute, believes that we should vigorously support the development of the second-hand car market, revitalize the stock of second-hand cars, stimulate the increase of new cars, stimulate the potential of automobile consumption in the whole chain, and drive the growth of industries such as repair, maintenance, insurance, and finance.

  In addition, it is necessary to speed up the improvement of the elderly care service system that coordinates with home community institutions and combines medical care and health care, and promotes the coordinated development of the elderly care industry and the elderly care industry.

  "We should focus on encouraging market players to increase diversified supply to promote a better match between supply and demand and promote the release of consumer demand." Wang Yun suggested that, on the one hand, it is necessary to implement a special action for inclusive pensions, carry out actions to improve the ability of community medical care integration, and vigorously develop Home-based elderly care; promote the construction of elderly-friendly communities, promote the aging-friendly renovation of public facilities, and develop aging-friendly technologies and products.

On the other hand, it is necessary to establish and improve the classified management system of elderly care institutions, include more public service items into the government procurement service guidance catalog, and increase government procurement.

  Fu Yifu said that it is necessary to strengthen the supply-side structural reform of the elderly care industry, pay attention to the market segmentation of the elderly care industry and the in-depth excavation of the consumption needs of the elderly group, and provide multi-level, high-quality and professional services for the elderly group through continuous innovation and improvement. products and services.

(People's Daily reporter Du Haitao Wang Ke Qi Zhiming Luo Shanshan)