Continuous Recovery and Linkage of Consumer Market | Elderly Care | Consumer Market

Currently, China's economy continues to recover, with an overall recovery and improvement. In terms of consumption, the total retail sales of consumer goods in the first seven months reached 26434.8 billion yuan, a year-on-year increase of 7.3%. Overall, the market recovery trend is still ongoing, with steady recovery in commodity consumption, rapid growth in service consumption, continuous expansion in cultural and entertainment consumption, and accelerated release of consumption potential.

Intensive introduction of local policies

Since the beginning of this year, a series of policies and measures to restore and expand consumption have been introduced and implemented, gradually restoring market demand and promoting rapid growth in consumption.

The rebound in consumption of tourism and other services has a significant supporting effect on expanding consumption. Shandong has launched 40 measures around key consumer areas such as catering and cultural tourism. Hu Bo, Deputy Director of the Development and Reform Commission and Director of the Energy Bureau of Shandong Province, introduced a series of popular and inclusive support policies from three aspects: increasing high-quality supply, reducing consumption costs, and creating a good environment, to continuously promote consumption upgrading.

For the elderly and minors, measures have been taken to increase the supply of elderly care and childcare services, promoting the improvement and expansion of residents' consumption of lifestyle services. "The measures are conducive to promoting the consumption of elderly care services as a new driving force for economic growth, promoting the coordinated development of the elderly care industry and the elderly care industry, and better meeting the personalized and diversified elderly care consumption needs of the elderly population," said Song Kun, Director of the Elderly Care Service Department of the Shandong Provincial Department of Civil Affairs.

Mass consumption has the characteristics of high consumption proportion, long industrial chain, and strong driving force. Focusing on key areas such as automobiles and household appliances, Henan has recently proposed 10 measures to encourage consumption and expand domestic demand. It is understood that the policy has optimized and continued the policies that have been introduced earlier and have a significant driving effect. "For example, extending the subsidy for car purchases until the end of this year, with a maximum subsidy of 10000 yuan. By the end of December this year, consumers who purchase new cars in the province will receive a subsidy of 5% of the purchase price." said Zhang Zhancang, a researcher at the Henan Provincial Party Committee Consulting Group and former president of the Henan Academy of Social Sciences.

Jiangxi supports and guides various regions to hold activities such as car promotions and new energy vehicles going to rural areas. Liang Xiaokang, Deputy Director of the Department of Commerce of Jiangxi Province, introduced that Jiangxi has jointly organized over 4000 seasonal consumption promotion activities and distributed a batch of government consumption vouchers. In the second half of the year, we will focus on holding car promotion activities such as the "Hundred Cities Linkage" automobile festival. Carry out promotional activities for green and intelligent home appliances going to the countryside and exchanging old for new. Further implement the policy of lifting restrictions on the relocation of used cars, promote convenient measures for cross provincial handling of used cars, and accelerate the activation of the used car market.

More elements in consumer scenarios

To meet the diversified needs of consumers, many regions have combined their own resource endowments to optimize traditional consumption supply while actively cultivating new consumption formats and scenarios, leading supply innovation through consumption upgrading, and adding new vitality to the consumer market.

Jiangxi has launched more than 220 4A level or above tourist attractions and more than 40 provincial-level or above tourist resorts in the province. It has carefully planned more than 30 high-quality tourism routes for the student market, focusing on creating a number of themed tourism products such as water friendly, summer vacation, and research. It has launched more than 500 preferential policies, promotional measures, and special activities.

Chen Xiaoping, Deputy Director of the Department of Culture and Tourism of Jiangxi Province, introduced that since July, the demand for cultural and tourism markets in Jiangxi has been strong, and passenger flow has continued to rise. Research tours, parent-child tours, and summer vacations have become the main consumers of cultural and tourism.

Not long ago, Henan Province issued the "Three Year Action Plan for Implementing the Strategy of Expanding Domestic Demand in Henan Province", proposing to continuously create new scenes, new formats, and new models of high-quality consumption. "We will ensure the implementation and implementation of policies such as continuously expanding consumption by 10 items, organize the '2023 Henan Summer Consumption Season' series of activities, vigorously cultivate night economy clusters and new types of consumption, and attract more tourists to participate," said Ma Jian, Secretary of the Party Group and Director of the Henan Provincial Development and Reform Commission.

Recently, 130000 acres of red lotus in Weishan Lake Red Lotus Wetland, Tengzhou, Shandong Province, entered its peak flowering period. Thirteen series of activities, including the Lotus Fairy Selection Competition and Red Lotus Music Festival, presented a wonderful cultural and tourism feast for tourists, receiving nearly 10000 visitors per day.

"We prioritize the restoration and expansion of consumption. In the first half of this year, the total retail sales of consumer goods in the city reached 21.08 billion yuan, a year-on-year increase of 12.6%," said Fan Xiaoyang, Deputy Mayor of Tengzhou City.

Strengthen financial support

Exploring consumer potential and unleashing economic vitality cannot be achieved without financial assistance. Since the beginning of this year, banks in many regions have introduced measures to support consumer recovery through preferential interest rates, convenience for enterprises and the people, providing support for the stable recovery and development of the consumer market.

Recently, the "New Langya" non-stop street in Linyi City, Shandong Province officially opened, attracting a large number of citizens and tourists to experience and play, becoming a new "internet celebrity" check-in destination. With the increasing number of merchants settling in the "New Langya" neighborhood, issues related to fund management such as centralized collection and distribution of payments and merchant rent collection are gradually becoming prominent. The Agricultural Bank of China Linyi Branch's online settlement business direct sales department and credit card center have formed a flexible team, relying on technological means to access the acquiring system, and have created a comprehensive settlement platform that combines unified collection and fund supervision functions, empowering the "night economy".

To restore and expand consumption, the Nanchang Central Branch of the People's Bank of China has strengthened overall planning and policy linkage, strengthened financial support for the recovery and expansion of consumption, and promoted the recovery and potential release of consumption. It is reported that the bank will focus on increasing support for areas such as bulk consumption, medical and health care, elderly care and childcare, cultural and tourism consumption, county-level rural consumption, and green consumption. Promote financial institutions to integrate financial support for rural revitalization and expanding consumption, with a focus on providing two-way financial services for the circulation of agricultural products into cities and household appliances to rural areas. At the same time, we will continue to improve financial services for new citizens and better meet their consumption credit needs for living and working in peace and contentment, such as rural migrant workers and newly graduated college students. As of the end of June this year, the balance of consumer and business loans in Jiangxi Province was 494.2 billion yuan.

Article/Our reporter Wang Jinhu, Xia Xianqing, Liu Xing, Yang Zipei