提振消费专项行动方案点评：聚焦消费能力、意愿提升，供给创造需求

Group 1: Policy Overview - The "Special Action Plan to Boost Consumption" was issued by the Central Committee and the State Council on March 16, 2025, reflecting a rapid response to the government work report from the Two Sessions[2] - The plan emphasizes the importance of boosting domestic demand, particularly consumption, as a key strategy to stabilize the economy amid external tariff increases[2] Group 2: Key Actions and Strategies - The action plan includes seven initiatives aimed at enhancing consumption capacity, willingness, and creating effective demand through improved supply[3] - Key actions focus on increasing income, optimizing the consumption environment, and upgrading major consumption categories such as housing and automobiles[3] - The plan also aims to eliminate consumption restrictions and improve policy support to create a better consumption environment[3] Group 3: Income and Consumption Capacity - Enhancing residents' consumption capacity is fundamental, with initiatives to promote reasonable wage growth and broaden property income channels[4] - The plan includes measures to alleviate various expenditure burdens on residents and strengthen public service guarantees[4] Group 4: Consumption Environment and Quality - A safe and convenient consumption environment is crucial for improving consumer experience and satisfaction, which in turn boosts consumption willingness[5] - Strengthening brand leadership and supporting new consumption development are expected to enhance consumption quality and drive consumer willingness[6] Group 5: Supply-Side Measures - The plan emphasizes expanding quality supply to create consumption demand, focusing on services for the elderly and children, as well as lifestyle services[7] - It also highlights the importance of opening up sectors like telecommunications, healthcare, and education to stimulate consumption[7] Group 6: Market Implications - The plan's focus on broadening property income channels, particularly through the stock market, is expected to create a wealth effect that boosts consumption[8] - Continuous policy support for the stock market may lead to sustained positive impacts on consumer spending[8]