激发内需潜力，也需加强“软基建”｜宏观经济

Core Viewpoint - The article emphasizes that a strong domestic market in China is not merely about scale expansion but rather an organic unity of quality, efficiency, resilience, and sustainability [2]. Group 1: Domestic Demand and Economic Transition - The recent Central Economic Work Conference highlighted "insisting on domestic demand as the main driver and building a strong domestic market" as the top priority for economic work in the coming year [2]. - From 2021 to 2024, domestic demand is expected to contribute an average of 86.4% to economic growth, with final consumption contributing 53.5% to economic growth in the first three quarters of 2025 [4]. - China possesses the world's largest middle-income group, a complete industrial system, and an upgrading consumption structure, indicating significant potential for domestic demand [4]. Group 2: Importance of Soft Infrastructure - Soft infrastructure, which includes a comprehensive system of rules and institutional arrangements, is crucial for establishing a strong domestic market [4][5]. - This infrastructure encompasses property rights, contract enforcement, market regulation, and dispute resolution, which are essential for reducing transaction costs and enhancing economic predictability [4]. Group 3: Long-term Supply-side Reforms - In addition to short-term demand management, long-term supply-side institutional reforms are necessary to create a stable, fair, transparent, and predictable business environment [5]. - Investment in "rule infrastructure," "credit infrastructure," and "legal infrastructure" is essential for activating the deep-seated dynamics of domestic demand [5]. Group 4: Fair Competition and Market Vitality - A vibrant domestic market relies on the innovation and fair competition of numerous market entities, which must be underpinned by universally recognized and strictly enforced fair rules [7]. - The protection of investor and consumer rights is critical for maintaining market confidence, particularly for small and medium investors [8]. Group 5: Legislative and Enforcement Efficiency - Enhancing the capacity and efficiency of legislation, judiciary, and law enforcement is vital for ensuring that market rules are effectively implemented [9]. - Legislative measures should be scientifically and forward-looking, particularly in response to new fields like digital economy and artificial intelligence [9]. Group 6: Building Trust and Market Order - Establishing a clear, efficient, and strict punitive mechanism for violations is essential for maintaining market order and trust [11]. - A comprehensive credit system that integrates information from various sectors is necessary to enhance governance effectiveness [11]. Group 7: International Standards and Digital Transformation - A strong domestic market should also be open and competitive internationally, requiring alignment with high international standards [14]. - Upgrading regulatory methods to incorporate digital technologies and real-time monitoring is crucial for adapting to the digital economy [14]. Group 8: Systematic Approach to Market Strengthening - Building a strong domestic market is a complex systemic project that requires both macroeconomic policy adjustments and micro-level institutional improvements [15]. - Continuous investment in soft infrastructure is essential for optimizing economic governance and stimulating innovation across society [15].