The "15th Five Year Plan" proposes that a strong domestic market is the strategic basis for Chinese path to modernization. Adhere to the strategic basis of expanding domestic demand, closely integrate benefiting people's livelihoods and promoting consumption, investing in goods and investing in people, lead new supply with new demand, create new demand with new supply, promote the benign interaction between consumption and investment, supply and demand, and enhance the vitality and reliability of the domestic circulation. The proposal for the 15th Five Year Plan also deployed three key tasks: vigorously boosting consumption, expanding effective investment, and resolutely eliminating obstacles to the construction of a unified national market. Experts say that the above deployment is expected to reshape the supply and demand structure, comprehensively achieve the transformation of old and new driving forces, and enhance the resilience of economic growth through balanced development of supply and demand. During the 15th Five Year Plan period, building a strong domestic market will grasp the three key points of "expanding increment, improving efficiency, and promoting smooth circulation". The "15th Five Year Plan" proposes to vigorously boost consumption as the primary task in building a strong domestic market, with both supply and demand sides making efforts to boost consumption. China currently has a population of over 1.4 billion, and the middle-income group is expected to exceed 800 million in the next decade, with enormous market potential. ”Minister of Commerce Wang Wentao said so. Reasonably increase the proportion of public service expenditure to fiscal expenditure and enhance residents' consumption capacity; The series of measures proposed in the "15th Five Year Plan" to increase inclusive policies for direct access to consumers and increase government funds for livelihood security expenditures continue the effective experience of "adhering to benefiting the people and promoting consumption". During the 15th Five Year Plan period, relevant departments will make efforts to boost consumption from both the demand side and the supply side, and improve relevant institutional guarantees. From the demand side, efforts need to be made to enhance residents' consumption capacity. Tan Zhuo, Assistant General Manager of China Merchants Bank Research Institute, stated that demand focuses on improving consumption ability and expectations, and promoting employment is the most fundamental work and the core of enhancing residents' consumption ability. In addition, the increase in the proportion of public service expenditure will also reduce the burden of rigid expenditure on residents. From the supply side perspective, leading new supply with new demand and creating new demand with new supply will become a clear mainline. Luo Zhiheng, Chief Economist and Dean of the Research Institute at Yuekai Securities, stated that during the 15th Five Year Plan period, the market will follow the trend of consumer upgrading, vigorously increase the supply of high-quality, personalized, and green goods and services, and create and lead new consumer demand with high-quality supply. From the perspective of new supply, new technologies and products that serve the growing needs of the people for a better life will continue to emerge, "said Guo Liyan, Deputy Director of the Economic Research Institute of the National Development and Reform Commission. In addition, institutional guarantees will play a role in optimizing the consumption environment, enabling consumers to consume and dare to consume. Li Shaojin, a macro strategy analyst at Bank of Communications International, stated that the "15th Five Year Plan" proposal, which includes "clearing unreasonable restrictive measures on consumption such as automobiles and housing" and "implementing paid off peak vacation", is a substantive arrangement that directly targets the current consumption bottleneck. Tan Zhuo believes that the system focuses on improving mechanisms, strengthening management, and protecting rights and interests. "Implementing paid off peak vacation" will help further expand consumption scenarios and enhance residents' consumption of cultural and tourism services. The key to effective investment lies in "investing in people" and "investing in people", which have become the intersection of promoting economic and social structural transformation. "The annual scale of fixed assets investment in China has reached 50 trillion yuan, but the tasks of benefiting people's livelihood, making up weak points, and building momentum are still very heavy. We must better use 'money', especially government funds, in the critical areas of development, and spend it on people's lives. ”Zheng Zhajie, Director of the National Development and Reform Commission, said. Industry insiders suggest that during the 15th Five Year Plan period, efforts should be made to optimize the investment structure, improve investment efficiency, and deepen the reform of the investment and financing system, using various tools to expand effective investment. Optimize investment structure. Wang Yiming, Vice Chairman of the China International Economic Exchange Center, stated that "investing in people" means increasing investment in people's livelihoods and public services, as well as increasing investment in human capital to enhance its contribution to economic growth. This is of great significance for maintaining sustained and stable economic growth. Luo Zhiheng stated that on the one hand, we should focus more on playing a strategic guiding role and making up for the shortcomings of public services. Funds will be invested more in areas related to people's livelihoods such as education, healthcare, and elderly care, as well as cutting-edge technology fields such as new generation information technology and new energy that are related to the country's long-term competitiveness; On the other hand, a strong synergy between government investment and private investment should be formed by improving the property rights protection system, creating a fair competition market environment, and establishing a long-term mechanism for private enterprises to participate in major project construction. Improve investment efficiency. Strengthen the management of the entire process of government investment; Deepen the reform of the investment approval system, further clarify the central and local investment directions and priorities; Strengthening planning and demonstration, implementing a number of major landmark engineering projects... Specific measures one by one will effectively improve investment efficiency and ensure that every penny is spent wisely. Focusing on solving the problem of 'heavy investment, light efficiency' in some investment fields, and enabling investment funds to leverage greater economic and social value, "said Zheng Zhajie. Deepen the reform of the investment and financing system. Zheng Zhajie stated that it is important to make good use of new policy based financial instruments; Give full play to the role of real estate investment trust funds, government and social capital cooperation channels in the field of infrastructure, and stimulate investment vitality; Deepen the reform of the investment approval system. Lian Ping, President and Chief Economist of Guangkai Chief Industry Research Institute, stated that expanding domestic demand plays a strategic role and requires further efforts from fiscal policy. This includes stabilizing residents' expectations through measures such as optimizing expenditure allocation and improving social security, as well as supporting investment in goods through special funds and project subsidies. Breaking down various market barriers, the market is the rarest resource. More powerful and effective elimination of various market barriers will be conducive to efficiently gathering domestic and foreign resources and fully tapping into the enormous market potential of our country. As Zheng Zhajie said, "Only with a unified market can the circulation be smooth." During the 14th Five Year Plan period, more than 4000 regulations and practices that hindered the unified market and fair competition were cleared nationwide; The negative list items for market access in our country have been reduced from 328 in the past to 106 currently, and more than 4200 policy measures that hinder factor flow have been cleared... In recent years, the "four beams and eight pillars" of the unified national market have gradually been established. However, promoting the construction of a unified national market is difficult to accomplish in one battle, and we still need to face pain points, overcome obstacles, and eliminate barriers. Do a good job in top-level design and continuously improve the basic system of the unified national market. Wang Yiming stated that it is necessary to start with institutional rules, improve the unity of the system, the connectivity of facilities, the consistency of rules, and the synergy of execution, in order to create conditions for the in-depth promotion of the construction of a unified national market. Promote the development of the factor resource market towards a more unified, efficient, and standardized direction, and fully stimulate the vitality of various factors. Pang Ming, a specially appointed senior researcher at the National Institute of Finance and Development, stated that the proposal put forward in the "15th Five Year Plan" to "optimize the sharing of benefits between enterprise headquarters and branches, production and consumption areas" reflects a deep integration consideration of regional coordinated development and market efficiency improvement. Yuan Haixia, President of China Chengxin International Research Institute, stated that considering the increasingly prominent issue of "internal competition", the construction of a unified national market is entering a critical stage of overcoming difficulties. The 15th Five Year Plan is expected to make systematic arrangements in breaking down local protectionism and market segmentation, and accelerating the construction of a high standard market system. Guo Liyan believes that the resource advantage of the super large market is accelerating to become the competitive advantage of the industry, which can provide more application environments and scenarios for the trial production, application and promotion of new technologies and new products. A strong domestic market is the strategic support for Chinese path to modernization. (New Society)