China's economic confidence said to promote consumption to play a "combination of punches" to understand how the policy power sector | demand | economy

The Measures for Restoring and Expanding Consumption have recently been approved by the State Council and forwarded by the General Office of the State Council to various localities and departments, and publicly released to the public. The 20 specific policies covering six aspects have a wide range of coverage, making them a "combination punch" for promoting consumption.

Boxing should be done from eye to hand, and consumer promotion policies should also be clear on how to strike and where to strike. In the first half of this year, the total retail sales of consumer goods in China reached 2275.88 billion yuan, a year-on-year increase of 8.2%. The contribution rate of final consumer spending to economic growth reached 77.2%. At this time, the "20 Measures to Promote Consumption" are being released, focusing on stabilizing bulk consumption, expanding service consumption, promoting rural consumption, expanding new types of consumption, improving consumption facilities, and optimizing the consumption environment. This is to continue to consolidate and expand the fundamental role of consumption in economic growth through a solid "combination of punches".

Improving Consumer Quality with Pragmatism and Benefiting the People

A steady posture is the key to effective action. Resident consumption is a key link in meeting the wishes of residents for a better life. This consumption policy revolves around daily consumption by residents, striving for practical benefits and improving the quality of consumption. For example, in terms of food, "supporting various regions to hold food festivals, creating characteristic food districts, and carrying out catering and consumption promotion activities"; Encourage the implementation of "scenic spot ticket reduction and exemption, free opening during off-season, and multi day use of one ticket" in the cultural and tourism sector; These measures aim to help the people "spend less money and do more work" by promoting green products to rural areas, introducing characteristic products to cities, providing appropriate subsidies or loan interest subsidies, and platform assistance. By spending the same or less, and upgrading product quality, technological content, and supporting services, ordinary people's money can be "spent more".

Focusing on market bottlenecks and optimizing market supply

Fist should be delivered steadily and hit accurately. To restore and expand consumption, we need to break through some market bottlenecks and breakpoints where people want to spend money but there is insufficient supply. For example, during the peak summer travel season, family tours, study tours, and other activities are being launched, and the cultural and tourism market is booming. But in some popular tourist attractions, there is a problem of "hard to get one ticket", which reduces the experience and feeling of visiting. In response to the concentrated outbreak of demand, promoting the standardized and innovative development of nighttime cultural and tourism consumption and guiding museums, cultural centers, amusement parks, etc. to extend their opening hours can better meet the diverse needs of tourists. In addition, revitalizing and exploring rural cultural and tourism resources, improving the efficiency of rural cultural and tourism facilities, can also provide summer travelers with more choices, without having to crowded together to experience the crowds. Identifying market bottlenecks and implementing precise policies can make people feel comfortable spending money when they want to consume.

Combining software and hardware to improve the consumer environment

The "combination punch" of promoting consumption focuses on supply side reform, providing richer and higher quality products in various aspects from automobiles to housing, from entertainment to health to meet diverse consumer needs. Promoting consumption not only relies on the hardware of the right products, but also on the software of optimizing the consumption environment. Promoting consumption is not a temporary measure or a local policy, but rather a long-term mechanism that needs to be improved. Through coordination and connectivity, various regulations and practices that restrict consumption should be accelerated, and institutional barriers and implicit barriers in the consumption field should be systematically removed. With clear service standards, a reassuring consumption environment should be created.

Grasping the "bull nose" of employment and income growth to enhance consumption capacity

Ultimately, spending money is the proactive behavior of consumers. The question of whether to buy, how much to buy, and how to buy, everyone has a scale in their hearts. When consuming, people will repeatedly weigh how to measure and balance short-term and long-term demand. Therefore, in order to restore and expand consumption, it is still necessary to firmly grasp the "bull's nose" of the common people who have work and money to earn. The role of consumption in driving economic growth should be achieved by increasing household income. Once income stabilizes, consumption expectations will naturally increase, and residents' income growth can keep pace with economic growth. This will increase their consumption ability and willingness to consume. In this way, the combination punch that promotes consumption can play its due role.