Recently, the Ministry of Commerce, the People's Bank of China, and the State Administration for Financial Regulation jointly issued the "Notice on Strengthening the Coordination between Commerce and Finance and Boosting Consumption to a Greater extent" (hereinafter referred to as the "Notice"), proposing measures from different aspects to increase financial support in key areas of consumption. In recent years, multiple departments have implemented precise policies to boost consumption and promote the deep integration of benefiting people's livelihoods and promoting consumption. Banking institutions take the special action of "boosting consumption and expanding domestic demand, consumer finance in action" as the starting point to achieve deep integration and comprehensive upgrading of the entire chain of "credit+scenario+payment+derivative services", promote the all-round expansion of domestic demand with high-quality consumer finance services, and "ignite" the consumer market from multiple dimensions. In terms of upgrading product consumption, the Notice proposes to promote cooperation between financial institutions, platforms, and key merchants, enter supermarkets, improve product service models such as installment payments, credit cards, mobile banking, and digital RMB, and better meet consumers' needs for new products. Ouyang Rihui, vice president of the China Internet Economics Research Institute of the Central University of Finance and Economics, said that consumer finance has promoted the optimization and upgrading of the industrial structure and achieved the long-term goal of the policy by supporting large-scale equipment renewal and consumer goods trade in. The Notice proposes to promote cooperation between financial institutions, platforms, and key merchants, and to enter supermarkets. Consumer finance has become an important financial force to boost consumption, and the continuous growth of its business scale provides a stable source of funds for industrial upgrading. At the same time, consumer finance guides consumers to choose high-quality and high-performance products, forming a market incentive mechanism for high-quality supply. Large state-owned banks actively support the "trade in" of consumer goods. For example, China Construction Bank closely follows the implementation of the "Two New" policies, optimizes automotive financial services, extends consumer service chains such as car washing and refueling, strengthens merchant platform cooperation, and promotes the upgrading of home appliances and 3C consumption. The relevant person in charge of the Housing Finance and Personal Credit Department of China Construction Bank stated that by deepening financial services, optimizing consumer loan products, supporting consumption in the home decoration field, and serving customers' comprehensive consumption needs such as home renovation and smart home selection after purchasing a house. In terms of innovative and diversified consumption scenarios, the Notice proposes to explore the development of exclusive loan products by combining the improvement of county-level commercial quality and efficiency with the high-quality development of rural e-commerce. Promote inbound consumption and continuously improve payment convenience for inbound personnel. Su Xiaorui, a senior researcher at Suxi Zhiyan, pointed out that accurately matching consumer finance with consumption scenarios can help promote the efficient implementation of policies. Promoting consumption has become an important engine of economic growth, and improving financial products and services that support consumption can drive economic growth in various industries by expanding domestic demand. At present, consumer finance has been embedded in various scenarios such as shopping, cultural tourism, home appliances, and home decoration, which can not only facilitate consumers' convenient use on the scene side, but also help merchants further open up the consumer market. In order to create a convenient payment environment, based on the widespread use of mobile payments and domestic and foreign bank card payments, the bank has assisted Shanghai Legoland Resort in fully promoting the use of digital RMB and jointly creating typical application scenarios for digital RMB in large-scale theme parks. Starting from August 1, 2025, a limited edition of the Shanghai LEGO theme digital RMB hard wallet will be released, incorporating LEGO theme elements into the card design to showcase Shanghai LEGO theme and its unique features. Tourists can use a digital RMB hard wallet to "stick it" on the payment terminal of Shanghai Lego Park merchants to complete convenient consumption payments. In terms of cultivating new consumer formats, the "Notice" proposes to promote the development of new consumption according to local conditions, actively explore effective measures to provide financial support for new consumer formats and models such as first-time economy, green consumption, healthy consumption, digital consumption, "artificial intelligence+consumption", and "IP+consumption" in accordance with the principles of controllable risks and sustainable business, and provide more diverse and differentiated financial services. The relevant person in charge of the Finance Department of the Ministry of Commerce stated that they encourage financial institutions to optimize financial products and services around key areas such as upgrading commodity consumption, innovating diversified consumption scenarios, and cultivating new types of consumption. They should promote the strengthening of the connection between supply and demand, improve the adaptability of commodity and service consumption, promote the development of new consumption according to local conditions, and support the construction of new forms, models, and scenarios of consumption. Next, to boost consumption through finance, we need to implement detailed financial support measures from the perspectives of financial product design and user demand, and enhance the adaptability and convenience of financial services. Ouyang Rihui stated that from the perspective of financial product innovation, it is necessary to promote the transition of consumer credit services from standardization to scenario based and personalized. The traditional "one size fits all" loan products are no longer able to meet diverse consumer needs. The current effective approach is to tailor them precisely around specific consumption scenarios and customer groups, and match them with flexible repayment methods such as "monthly interest payment and repayment at maturity" to accurately meet consumer upgrading needs. In addition, from the perspective of policy coordination, it is necessary for business, financial, and industrial policies to form a joint force and play a multi-level promoting role. A healthy consumer finance market requires various entities such as banks, consumer finance companies, and automotive finance companies to complement each other's strengths and compete in a differentiated manner, reduce user financing costs, and promote residents' "ability to consume" and "willingness to consume". (New Society)