A strong domestic market is the strategic support for Chinese path to modernization. 2026 is the starting year of the 15th Five Year Plan. The government work report submitted for review includes "focusing on building a strong domestic market" as the top priority of this year's key tasks, proposing to adhere to the leading role of domestic demand, coordinate the promotion of consumption and investment, and expand new space for domestic demand growth. How to effectively boost consumption and investment in order to build a strong domestic market and make domestic demand the driving force and stable anchor of the economy? Develop and implement plans to increase the income of urban and rural residents by addressing the contradiction between strong supply and weak demand through policy coordination; Establish a special fund of 100 billion yuan for fiscal and financial coordination to promote domestic demand; It is planned to issue 1.3 trillion yuan of ultra long term special treasury bond to continue to support the "dual" construction, "two new" work, etc. In the government work report, many arrangements are aimed at boosting domestic demand. Faced with an increasingly uncertain external environment, domestic demand has become the top priority of China's current economic work. ”Huang Qunhui, a member of the National Committee of the Chinese People's Political Consultative Conference and a researcher at the Institute of Economics of the Chinese Academy of Social Sciences, said that a series of policies aim to solve the current contradiction between strong supply and weak demand in China, and to strike a pragmatic, efficient, and precise "combination punch". At present, the characteristic of "strong supply and weak demand" in China's economic operation is quite obvious, among which the insufficient domestic effective demand, especially consumer demand, is a prominent weakness. The government work report proposes to stimulate residents' endogenous consumption motivation and promote consumption policies simultaneously, focusing on enabling consumers to consume, be willing to consume, and dare to consume. The draft outline of the 15th Five Year Plan clearly states that "we will coordinate the promotion of employment, increase income, stabilize expectations, and accelerate the formation of a long-term mechanism to expand household consumption. The government work report highlights the "in-depth implementation of the special action to boost consumption" and clarifies the "formulation and implementation of plans to increase income for urban and rural residents". A National People's Congress representative and Secretary of the Party Committee of the Shanghai Academy of Social Sciences weighed in and said that the government work report clearly stated that this year, a number of practical measures will be introduced to promote income growth for low-income groups, increase residents' property income, improve salary and social security systems, etc., with the aim of fundamentally enhancing consumer spending capacity and enabling consumers to consume. Currently, there is increasing downward pressure on overall investment. The government work report proposes to fully tap and release the potential for effective investment. It is planned to allocate 755 billion yuan of investment from the central budget and 800 billion yuan of ultra long term special treasury bond funds for "dual" construction; Issuing 800 billion yuan of new policy oriented financial instruments to stimulate more social capital to participate in investment; Arranging 200 billion yuan of ultra long term special treasury bond funds to support large-scale equipment upgrading... Chen Changsheng, a member of the drafting group of the government work report and the deputy director of the research office of the State Council, said that this year the government's investment funds will exceed 5 trillion yuan, which, together with local supporting funds, will be large in scale; Give full play to the leading role of 109 major engineering projects during the 15th Five Year Plan period, and adhere to the principle of funds following the projects. Expanding domestic demand is a systematic project. To create a favorable investment and entrepreneurship environment, guide business entities to have strong confidence, continuously optimize macro policies, and alleviate difficulties. Add a new local government special debt limit of 4400 billion yuan to support the construction of major projects, replacement of implicit debts, and digestion of government arrears; Allocate 177 billion yuan, with a focus on supporting industries, employment, and other assistance; Efforts will be made to stabilize the real estate market, strengthen housing security for families with first marriage and first child, and accelerate the renovation of dilapidated houses... The government's work report and budget report have made precise arrangements to stabilize employment, enterprises, the market, and expectations. Expectations are crucial. ”Member Huang Qunhui said that various policies have shifted from short-term subsidies to institutional support. On the one hand, they support investment demand and stabilize expectations through major project engineering. On the other hand, they improve residents' consumption confidence by improving social security and public service supply. The benign interaction between supply and demand opens up space for domestic demand development. In the past, we focused on the products on the shelves, but now we are more concerned about the consumer experience. ”Gong Dingling, a National People's Congress representative and senior manager of the Shaping Shopping Mall Category Sales Department of Chongqing Department Store Co., Ltd., said that this year we will continue to make efforts in new tracks such as first store economy and new quality retail, and stimulate potential demand with high-quality supply. Adhering to the close integration of benefiting people's livelihoods and promoting consumption, investing in goods and investing in people, leading new supply with new demand, and creating new demand with new supply, can better promote the benign interaction between consumption and investment, supply and demand, and enhance the endogenous power and reliability of the domestic circulation. Consumption is the ultimate demand. Adapt to consumer demand from 'whether there is' to' whether it is good or not ', and stimulate greater consumption potential through the supply of high-quality goods and services. This year's government work report proposed to arrange 250 billion yuan of ultra long term special treasury bond to support the exchange of old for new consumer goods; Create a group of new consumer scenarios with wide driving force and high display. The plan report clearly states the introduction of policies to promote sports economy, e-commerce, "artificial intelligence+consumption", IP consumption, and other areas. Supporting the construction of recycling systems for automobiles, electronic products, household appliances and furniture, expanding cultural and sports tourism consumption, regulating online sales, live streaming sales and other business activities... The draft outline of the 15th Five Year Plan clearly highlights important driving points such as unleashing the potential of service consumption and promoting the expansion and upgrading of commodity consumption. Wang Chengbin, a member of the National Committee of the Chinese People's Political Consultative Conference and Secretary of the Party Group of Jiangsu Provincial Federation of Social Sciences, said that a series of policy arrangements are in line with the new consumption needs of residents, which can effectively drive employment expansion, promote industrial upgrading, and promote the formation of a virtuous cycle of "demand driving supply and supply creating demand". Investment is both a current demand and a future supply. In order to boost confidence in private investment and optimize investment structure, this year's government work report clearly states that "increasing the proportion of government investment in livelihood related areas" and "implementing policy measures to promote private investment". From the draft outline of the 15th Five Year Plan to the government work report, it is clearly stated that "the long-term mechanism for private enterprises to participate in major project construction should be improved", and private capital should be encouraged and supported to participate in key areas such as railways, nuclear power, hydropower, and water supply projects, guiding private investment to expand into new tracks such as high-tech and modern service industries. During the 15th Five Year Plan period, major strategic tasks such as "building a modern industrial system," "accelerating high-level technological self-reliance and self-improvement," "deepening the construction of digital China," "accelerating agricultural and rural modernization," and "promoting high-quality population development" will open up new investment space for various business entities; Practical measures such as "promoting the opening of application scenarios in emerging fields to private enterprises" and "leveraging the guiding and driving role of government investment funds" will provide strong support for promoting private enterprise investment... Chen Cheng, a National People's Congress representative and chairman of Guangxi Sanhuan Enterprise Group Co., Ltd., said that private investment is an important force in activating domestic demand. A series of measures have made enterprises willing, daring, and capable of investing, injecting lasting momentum into the construction of a strong domestic market. Deepening reform and opening up to enhance the driving force of domestic demand development. In response to the bottlenecks that restrict people's consumption, the government work report proposes multiple measures such as "cleaning up unreasonable restrictions in the consumption sector" and "supporting localities with conditions to promote spring and autumn leave for primary and secondary schools, and implementing a paid staggered leave system for employees". Member Huang Qunhui said that these policies are pragmatic and targeted, addressing conflicts such as "children's vacations, parents' difficulties in taking vacations", and difficulties in implementing paid vacations for employees. They focus on solving pain points in people's livelihoods, improving the consumption environment, and promoting relevant institutional reforms in various regions to truly unleash consumption potential. Continuously deepening reforms can provide strong impetus for smooth economic circulation, tapping into domestic demand potential, and building a strong domestic market. Deepening the reform of the bidding and tendering system and mechanism, thoroughly rectifying "internal competition", and deepening the comprehensive reform pilot of market-oriented allocation of factors... The government work report has listed "deepening the construction of a unified national market" as a key reform area and made a series of deployments. During the 15th Five Year Plan period, various reforms such as income distribution reform, integrated reform of education, technology, and talent, and reform of the fiscal and taxation system will take steady steps. Balancing representatives said that a series of reform measures aim to solve the structural contradictions faced by economic transformation and upgrading, break through the bottlenecks that restrict consumption and investment, and fully stimulate the endogenous driving force of various business entities. Give impetus to reform and add momentum to openness. High level opening up to the outside world is an important way to promote the expansion of domestic demand and high-quality development. Since its closure, Hainan Free Trade Port has operated smoothly and orderly, ushering in a new wave of consumption and investment enthusiasm. Guo Jianchun, member of the National Committee of the Chinese People's Political Consultative Conference and president of the Hainan European American Alumni Association, said that the Hainan Free Trade Port continues to explore institutional opening-up, introduce high-quality global resources and elements, and unleash the potential of China's super large market. Create an open innovation ecosystem with global competitiveness, optimize the management mechanism for external professional exchanges and cooperation among universities, research institutes, and technology associations; Promote the orderly expansion and opening up of cultural, medical and other fields; Optimizing the inbound consumption environment and promoting "Buy in China"... The draft outline of the "15th Five Year Plan" focuses on promoting domestic and international dual circulation. Deng Lin, member of the National Committee of the Chinese People's Political Consultative Conference (CPPCC) and president of the Chongqing Council for the Promotion of International Trade, said that promoting high-level opening up can promote the convergence of domestic and international market rules, help promote the optimal allocation of resources in a larger range, and at the same time, promote reform through opening up, inject momentum into the strong domestic market, and provide more solid and reliable support for Chinese path to modernization. (New Society)