把握好主要抓手，大力提振消费

Core Viewpoint - The article emphasizes the need to boost consumer spending in China to address external uncertainties and enhance economic growth, with a target of increasing the resident consumption rate to around 40% by 2024, which is significantly lower than the global average of 55% and high-income economies' average of 60% [1] Group 1: Service Consumption - There is significant potential for increasing service consumption in China, with the service consumption share in per capita consumption projected at 46.1% in 2024, lower than Japan (57.7%) and the US (68.5%) [2] - Cultural and entertainment services account for only 3.2% of total service consumption, which is also below Japan's 9.9% and the US's 10% [2] - To activate service consumption, measures should be taken to increase residents' purchasing power, stabilize and expand employment, and improve income distribution [2][3] Group 2: Automotive Consumption - Automotive consumption is a significant component of overall consumption, with a projected retail sales total of 487,895 billion yuan in 2024, of which automotive consumption is 50,314 billion yuan, accounting for 10.3% [4] - There is a notable gap in car ownership between China and developed countries, with China having only 238 vehicles per 1,000 people compared to the US's 816 [4] - Strategies to boost automotive consumption include extending trade-in subsidies, financial support, and relaxing purchase restrictions in cities [5] Group 3: Housing Consumption - The real estate sector's contribution to GDP in China is 6.3% in 2024, significantly lower than the US's 12.6%, indicating room for growth [6] - There is a demand for improved living conditions, with only 387 housing units per 1,000 people in China compared to the US's 428 and Japan's 493 [7] - Stimulating housing consumption involves relaxing purchase restrictions, increasing financial support, and enhancing the quality and functionality of housing [7][8] Group 4: Comprehensive Approach - Boosting consumption is a systemic project that requires a comprehensive policy approach targeting both supply and demand sides to ensure steady increases in consumption rates and foster high-quality development [8]