Diversified pathways boost consumption
2025-09-26
At present, the overall consumer market in China maintains a stable operating trend, and the potential for consumption is accelerating, promoting industrial transformation and upgrading, and promoting economic growth. To further expand domestic demand, it is still necessary to implement the central government's policies and measures to boost consumption, diversify efforts to increase consumption supply, innovate consumption scenarios, and expand consumption scale. From the demand side, consumption is mainly influenced by consumption ability, consumption confidence, and consumption willingness. Consumption ability can determine the stock of consumption, while other factors jointly determine the increment of consumption. From the supply side, supplementing the supply of goods and services can meet the multi-level and diversified consumption needs of residents, thereby promoting consumption. From a technical perspective, the application of digital technology has reshaped the relationship between production and consumption, enhancing the adaptability of supply and demand. From the perspective of consumer environment, improving the regulatory system helps to protect consumer rights, and establishing a sound service standard system helps to promote the standardized and specialized development of the service industry. To boost consumption, it is necessary to enhance residents' consumption ability, willingness, and confidence from the demand side, increase and optimize the supply of goods and services from the supply side, reshape the consumption (supply) mode and innovate supply from the technology side, and reduce transaction costs by optimizing the consumption environment. Enhance consumer power and boost consumer confidence. One is to increase income, reduce tax rates, and consolidate the consumption foundation. Improve the linkage mechanism between skill training and vocational qualification certification for key groups such as new forms of employment workers and rural migrant workers. Explore the establishment of a dynamic adjustment mechanism linking wage growth with labor productivity and enterprise efficiency. Innovate the growth path of property income and improve market management in areas such as stocks, bonds, and insurance. Explore including household services, elderly care and other livelihood expenses in the scope of personal income tax deduction. The second is to improve the social security system. Optimize the supply of public services such as education and housing, and establish a grading system for the quality of public services. Increase the reimbursement ratio of basic medical insurance and expand the coverage of the second and third pillar pension insurance. Increase effective supply. One is to fill in the supply gap. Guide social capital to invest in the construction of community healthcare, childcare facilities, and inclusive service institutions. Cultivate leading enterprises in cultural and entertainment, tourism, sports and other improved service consumption, and enhance the quality of supply. Optimize the supply layout and promote the gradient transfer of high-quality service resources from the eastern region to the central and western regions through digital means such as telemedicine and online education. The second is to innovate supply and enhance consumer willingness. Encourage the exploration of emerging business models, the development of personalized design and flexible production, and the cultivation of new consumer scenarios such as bulk commodities and catering through digital transformation and business integration. Create a favorable consumption environment. One is to improve the regulatory system. Develop universal standards covering qualification review, quality evaluation, safety assurance, and other aspects across all business formats. Building a smart supervision platform based on technologies such as big data and blockchain, utilizing artificial intelligence algorithms for risk identification and grading warning, and improving regulatory accuracy. Smooth channels for consumer complaints and rights protection, and safeguard the legitimate rights and interests of consumers. The second is to establish a sound standard system. Strengthen the construction of the standard system for small commodities in domestic and foreign trade. Strengthen the revision of cultural, tourism and other service standards, and develop new consumption standards such as digital consumption and green consumption. Promote brand certification evaluation and establish industry benchmarks. Establish a standard dynamic adjustment mechanism to maintain the progressiveness and applicability of the standard. The third is to improve service statistics and monitoring. Increase the indicators of service retail sales scale, monthly growth rate, and segmented category indicators, establish a statistical classification catalog for service consumption, and include new service formats in the scope of routine statistics. The fourth is to optimize the consumption environment in urban and rural communities. Intensify efforts to promote the construction, expansion, and upgrading of the 15 minute convenient living circle in the city, and create a quality living circle that is friendly to all ages. Explore the development of smart communities and promote the digital and intelligent development of community life services. Accelerate the filling of gaps in rural public infrastructure and improve the rural information service system. In addition, efforts should be made to reduce restrictive measures on consumption. Support scenic spots, museums and other places with conditions to gradually extend their opening hours. Support large commercial enterprises to use their own venues to carry out external display promotions. Relaxing restrictions on organizing meetings and exhibitions in an orderly manner in accordance with laws and regulations. Author: Shi Weiwei (Institute of Circulation and Consumption, International Trade and Economic Cooperation Research Institute, Ministry of Commerce)
Edit:Luo yu Responsible editor:Wang er dong
Source:ECONOMIC DAILY
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