Core Viewpoint - The article emphasizes the importance of boosting consumption and expanding domestic demand as a primary task for economic growth in China, highlighting various government policies and measures aimed at achieving this goal [10][11]. Group 1: Economic Policies and Measures - Since 2025, China has prioritized the recovery and expansion of consumption in macroeconomic control, with coordinated efforts from fiscal, monetary, industrial, and employment policies [2]. - The State Council issued a notification in January 2025 to implement a large-scale equipment update and old-for-new consumption policy, allocating 300 billion yuan in special bonds for direct subsidies on vehicle scrappage and appliance upgrades [4]. - Local governments are supplementing national standards with additional budgets, creating a "central-local-enterprise" incentive package for consumers, with total subsidies for vehicle scrappage reaching up to 30,000 yuan [5]. Group 2: Service Consumption Expansion - The Ministry of Commerce and nine other departments released 19 measures to expand service consumption, including promoting "service consumption seasons" and optimizing service supply to meet diverse consumer needs [7]. - The measures also focus on developing new consumption scenarios and encouraging cross-industry collaborations to enhance service offerings [8]. - Financial support for service consumption is emphasized, with policies aimed at increasing credit availability for service sector businesses and developing tailored financial products [8]. Group 3: Consumption as Economic Driver - Domestic demand is identified as a fundamental driver of economic growth, with a significant contribution from final consumption expenditure, which was 44.5% in 2024 [10]. - The article discusses the need for structural reforms to enhance consumption capacity and improve the consumption environment, as effective demand remains insufficient [10][11]. - Experts suggest that transforming consumption patterns and enhancing the role of consumption in economic growth is crucial for achieving sustainable development [12][13].
《清华金融评论》| 封面专题:大力提振消费,全方位扩大国内需求
清华金融评论·2025-09-28 10:08