21社论丨提升服务供给质量，激发更多消费新需求

Core Viewpoint - The Ministry of Commerce, along with other government departments, has introduced a set of policies aimed at expanding service consumption to stimulate economic growth and enhance the quality of the economy [1] Group 1: Economic Context - Domestic demand is identified as the fundamental driving force for economic development, with a focus on boosting consumption to expand domestic demand and create a virtuous cycle in the national economy [1] - In 2024, domestic demand is expected to contribute 69.7% to China's economic growth, with final consumption expenditure contributing 44.5%, indicating a gap compared to the international average of 50% [1] Group 2: Service Consumption Trends - China has the largest and most dynamic middle-income group globally, shifting their consumption needs from goods to services, yet there exists a structural mismatch in service supply [2] - The service consumption supply is characterized by an oversupply of low-end and homogeneous services, while there is a lack of specialized and personalized offerings [2] Group 3: Quality of Service Supply - Enhancing the quality of service supply is crucial to meet and stimulate new consumer demands, as the unique characteristics of service consumption, such as localization and high operational costs, contribute to supply challenges [3] - The policies propose relaxing entry barriers and regulatory measures in sectors like telecommunications, healthcare, and education to attract more foreign and private investment [3] Group 4: Trust Mechanisms in Service Consumption - Addressing trust issues in service consumption is essential, as the simultaneous production and consumption of services lead to reliance on reputation and reviews, which can deter consumer willingness if information costs are high [4] - Long-term growth potential in service consumption is anticipated to be a major driver for future consumption growth, necessitating systemic reforms to promote professionalism and standardization in the service industry [4]