Four departments explain in detail the policy measures to expand service consumption, including increasing the supply of high-quality consumption and increasing credit support
2025-09-18
On September 17th, the State Council Information Office held a press conference to introduce policies and measures related to expanding service consumption. The responsible persons of the four departments stated that they will select around 50 pilot cities with large population base, strong driving force, and good development potential for new consumption formats, models, and scenarios nationwide through competitive evaluation, in order to increase the supply of high-quality consumption; Introduce a series of policy documents on high-quality development of the accommodation industry, integration of railway and tourism development, etc; Deepen the implementation of the "Artificial Intelligence+" initiative and promote the accelerated application of artificial intelligence in areas such as service consumption; Implement actions such as strengthening the foundation and revitalizing tourist attractions. Promoting the improvement and expansion of service supply and carrying out the construction of pilot cities for new consumption formats, models, and scenarios is a decision and deployment made in response to the current trend of consumption upgrading, focusing on addressing the shortcomings of insufficient high-quality supply. Kong Dejun, Director of the Department of Service Trade and Commercial Services of the Ministry of Commerce, stated that in the next step, the Ministry of Commerce will select around 50 pilot cities with large population base, strong driving force, and good development potential for new consumption formats, models, and scenarios nationwide through competitive evaluation. This will increase the supply of high-quality consumption, innovate and enrich diversified consumption scenarios, promote the continuous emergence of new consumption formats, further enhance consumption vitality, better meet the diverse and differentiated consumption needs of the people, and provide strong support for high-quality economic development. Wu Yuetao, Director of the Employment Income Distribution and Consumption Department of the National Development and Reform Commission, stated that the focus will be on promoting the improvement and expansion of service supply from three aspects. On the one hand, it promotes enterprises to become "new" and stimulates innovation momentum. Deepen the implementation of the "Artificial Intelligence+" initiative, promote the accelerated application of artificial intelligence in service consumption and other fields, and empower various service enterprises of all sizes. On the other hand, promoting the industry towards "excellence" and improving service levels. We will implement the "Credit+" project in key areas such as childcare, elderly care, home economics, and tourism, and improve the incentive and punishment mechanisms for trustworthiness, so that consumers can feel more at ease. In addition, promote the market to be "active" and create a favorable environment. Solidly promote the construction of a unified national market, clean up and rectify market access barriers, and create a fair market access environment for all types of enterprises, especially small and medium-sized enterprises. Yang Hong, the head of the Credit Market Department of the People's Bank of China, stated that since the beginning of this year, the People's Bank of China has introduced multiple policies to expand the supply of high-quality credit, increase support for first-time loans, renewals, credit loans, and medium - to long-term loans to operating entities in the consumer industry, and strengthen the role of financial support in boosting and expanding consumption. As of the end of July, the balance of loans in key areas of service consumption in China was 2.79 trillion yuan, a year-on-year increase of 5.3%, an increase of 164.2 billion yuan from the beginning of the year. The new loans in the first seven months were 63 billion yuan more than those in the whole year of last year. In the next stage, the People's Bank of China will work together with departments such as commerce, development and reform, culture and tourism, and finance to ensure the implementation of various policies that have been introduced, effectively transmit the benefits of policies to business entities and consumers in the service consumption field, and enhance the sense of gain of the people. ”Yang Hong said. Regarding the policy of promoting cultural and tourism consumption, Miao Muyang, Director of the Industry Development Department of the Ministry of Culture and Tourism, stated that the next step will be to implement the "Strengthening the Foundation and Revitalizing the Tourism Scenic Area" initiative to improve the quality of tourism services and consumer experience. Deeply implement the "Hundred Cities, Hundred Districts" and "Hundred Cities, Thousand Stations" cultural and tourism consumption action plans, and guide more funds and resources to invest in cultural and tourism consumption. Promote the "buy and refund" policy to attract more overseas tourists to come to China for tourism and shopping. Kong Dejun stated that the Ministry of Commerce will also introduce a series of policy documents such as high-quality development of the accommodation industry and integrated development of railways and tourism, forming a policy "combination fist". (New Society)
Edit:Yao jue Responsible editor:Xie Tunan
Source:China Securities Journal
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