内需主导，聚力增长丨第二十七届北大光华新年论坛圆满举行

Core Viewpoint - The 27th Peking University Guanghua New Year Forum focuses on "domestic demand-led growth" as a key theme, aligning with the central economic work conference's emphasis on strengthening the domestic market for the new phase of the 14th Five-Year Plan [1][19]. Group 1: Forum Overview - The forum was held on January 17, 2026, at Peking University, featuring prominent speakers including university officials and industry representatives [3][21]. - The event aims to contribute to the theoretical framework for the 14th Five-Year Plan and stimulate discussions on building a robust domestic market [1][19]. Group 2: Keynote Speeches - Liu Shijun discussed the shift from supply constraints to demand constraints in China's economic growth, emphasizing the need for a focus on consumption and human capital investment [7][24]. - Gao Peiyong highlighted the importance of stimulating residents' consumption as a key driver of economic growth, addressing challenges such as weak consumer confidence and the need for systemic reforms [10][26]. - Liu Qiao analyzed the paradox of low consumer spending in relation to high per capita consumption, suggesting policy reforms to enhance disposable income and consumer rates [12][29]. Group 3: Roundtable Discussion - The roundtable featured discussions on how new supply can create new demand, with industry leaders addressing the structural mismatches in consumer markets [14][32]. - Ma Tiemin pointed out the need for agricultural product market reforms to address supply-demand mismatches, advocating for digital tools and innovative production methods [15][33]. - Other participants emphasized the importance of understanding consumer behavior shifts and the need for companies to adapt their strategies to meet evolving market demands [16][34][35]. Group 4: Future Directions - Zhang Zheng summarized that creating new demand through new supply is a comprehensive process involving value creation, technological empowerment, and supply chain upgrades [18][36]. - The forum underscored the necessity for collaborative efforts among policymakers, capital providers, and entrepreneurs to foster a sustainable environment for innovation and growth [18][36].