Core Viewpoint - A strong domestic market is the strategic foundation for Chinese-style modernization, emphasizing the need to prioritize domestic demand and build a robust domestic market [1] Group 1: Consumption and Investment Coordination - Coordinating consumption and investment is essential for building a strong domestic market, as they are interdependent and create a virtuous cycle [2] - Consumption represents final demand while investment addresses current demand and future supply, highlighting the need for effective investment to meet consumer needs [2] - Investment has played a crucial role in economic growth during rapid industrialization and urbanization, and as income rises, consumption is becoming the dominant force in sustaining long-term economic health [2] Group 2: New Demand and Supply Dynamics - Investment should lead to new supply that meets emerging consumer demands, particularly in service-oriented and quality-focused sectors [3] - There is a need to increase investment in healthcare and other essential services, as well as in sectors like cultural tourism and green consumption to align with changing consumer preferences [3] - Urbanization trends necessitate investment in infrastructure to support basic public services for non-resident populations and to meet housing demands [3] Group 3: Innovation and New Consumption Scenarios - Investment should drive innovation in consumer products, particularly through advancements in technology such as artificial intelligence, which can create new growth points in consumption [4] - There is a focus on expanding investment in new business models and consumption scenarios to enhance the consumer experience and environment [4] - Policies should be implemented to remove unreasonable restrictions and promote leisure time for residents, thereby unlocking potential in various service sectors [4] Group 4: Policy Support and Reform - Strengthening policy support is crucial for enhancing both consumption and investment, including implementing income growth plans and improving minimum wage standards [5] - Coordinated policy efforts should optimize the use of various funding sources, including central budget investments and local government bonds, to stimulate consumer spending [5] - Reforms in approval and regulatory systems are necessary to adapt to new consumption models and to encourage private sector participation in major projects [5]

Core Viewpoint - The discussion emphasizes the importance of building a strong domestic market in China, focusing on internal demand as a key driver for economic growth [1] Group 1: Economic Position and Global Context - China accounts for approximately 30% of global manufacturing value added, indicating its significant role in the global economic landscape [1] - The country possesses a complete industrial and supply chain, showcasing strong economic resilience to external changes [1] Group 2: Domestic Consumption Potential - There is substantial growth potential in both goods and service consumption within China [1] - During the "14th Five-Year Plan" period, efforts will be made to enhance social security, stabilize employment, and optimize the market environment to encourage consumer spending [1] Group 3: Interaction and Engagement - Zhang Jianping addressed questions from domestic and international journalists regarding enhancing consumer capacity and supporting Chinese enterprises in expanding abroad [1]

Core Insights - The article discusses the importance of maintaining a domestic demand-oriented approach to build a strong domestic market in China, highlighting the challenges and opportunities faced by the large market [1] Group 1: Domestic Market Development - China is currently the world's second-largest consumer market, with significant growth potential, particularly in service consumption sectors such as cultural tourism, information services, and education [1] - The growth potential of service consumption is expected to be further released, supporting the expansion of domestic demand [1] - Efforts must be made to stabilize economic growth, improve residents' disposable income levels, and enhance consumer capacity [1] Group 2: Market Environment and Global Position - There is a need to optimize the market environment and establish a unified national market to create a more transparent and fair consumption environment [1] - China's new foreign trade competitiveness continues to grow, with many Chinese brands becoming multinational companies, indicating further potential for increasing global market share [1] - The expansion of domestic demand and promotion of high-quality development must rely on the synergy of open development and innovation [1]

国家发展改革委党组书记、主任郑栅洁在人民日报发文表示，建设强大国内市场。深入实施提振消费专 项行动，扩大优质消费品和服务供给，优化"两新"政策实施，以放宽准入、业态融合为重点扩大服务消 费，推动商品消费扩容升级。优化政府投资结构，提高民生类政府投资比重，高质量推进"两重"建设， 不断提高投资综合效益，完善民营企业参与重大项目长效机制。坚决破除阻碍全国统一大市场建设卡点 堵点，统一市场基础制度规则，规范地方政府经济促进行为，坚决破除地方保护和市场分割，综合整 治"内卷式"竞争，充分释放我国超大规模市场红利。 ...

Group 1 - The core focus of the Central Economic Work Conference is to ensure a strong start for the "14th Five-Year Plan" by emphasizing the importance of domestic demand and building a robust domestic market [1] - In 2026, the government plans to implement eight key tasks, with the first being to maintain domestic demand as the main driver of economic growth [1] - The "Two New" policies and "Two Heavy" projects will be optimized for implementation, with an initial allocation of 62.5 billion yuan for consumer goods replacement programs [1] Group 2 - The ice and snow economy is becoming a significant driver of consumption and domestic demand, with outdoor skiing searches increasing over threefold since December 2025 [2] - The "old for new" policy has led to a 20% increase in Haier's appliance sales, with air conditioning units seeing over a 50% rise [2] - In 2025, the sales from the "old for new" policy exceeded 2.6 trillion yuan, benefiting over 360 million people and supporting continuous consumption growth [2] Group 3 - Investment in equipment and tools has seen a 12.2% year-on-year increase, contributing 1.8 percentage points to overall investment growth [3] - Key sectors such as electricity and internet services have experienced significant investment growth, with electricity investment up 12.5% and internet services up 20.7% [3] - The domestic demand scale is expanding, with its quality and international influence improving, making it a crucial driver of economic growth [3] Group 4 - There is still substantial potential and space for expanding domestic demand, despite facing some challenges [4] - Digital technologies and AI are fostering new business models and consumption scenarios, indicating a continuous release of consumer potential [6] Group 5 - Effective investment opportunities remain vast, with technology companies requiring significant investment for R&D and equipment upgrades [7] - Traditional industries are undergoing transformation, creating a strong demand for equipment renewal and technological upgrades [7] Group 6 - The strategy to expand domestic demand must prioritize boosting consumption, with a focus on enhancing the supply of quality goods and services [9] - The government is expected to maintain high levels of fixed asset investment, projected to exceed 3.6 trillion yuan in 2025 [10] - The government aims to stimulate private investment and create a stable and transparent environment for private enterprises to participate in major projects [10] Group 7 - The commitment to expanding domestic demand is essential for leveraging China's large market advantages into competitive strengths for national development [11]

Group 1 - The core viewpoint emphasizes that "insisting on domestic demand as the main driver" is a priority task for 2026, focusing on building a strong domestic market amid rising external uncertainties [1] - Data shows that from January to September 2025, final consumption expenditure contributed 53.5% to China's economic growth, an increase of 9 percentage points compared to the previous year [1] - Experts predict that policies aimed at increasing disposable income, promoting high-quality consumption upgrades, and improving social security systems will continue to activate consumption potential [1][2] Group 2 - The construction of a complete domestic demand system involves enhancing product and service quality, expanding the middle-income group, and optimizing income distribution to boost consumption capacity [2] - The insistence on domestic demand does not imply a contraction of openness; rather, it aims to strengthen the domestic market to attract global resources and foreign investment [3] - In the first 11 months of 2025, China's goods trade surplus reached $1.08 trillion, marking a historic milestone [4] Group 3 - The average contribution rate of domestic demand to economic growth from 2021 to 2024 was 86.4%, with a projected annual growth rate of 5.5% [4] - Service consumption is becoming a significant growth point for expanding domestic demand, supported by policies such as urban renewal and major project construction [4] - International organizations like the IMF and World Bank have raised their economic growth forecasts for China in 2025, indicating resilience in the economy [5]

Group 1 - The core viewpoint emphasizes China's commitment to leveraging its domestic market advantages to navigate complex external environments and enhance economic resilience by deepening the construction of a unified national market [1][4]. - China, with a population exceeding 1.4 billion and the world's most complete industrial system, is positioned as the largest and most potential consumer market globally, with a per capita GDP surpassing $10,000 [2][4]. - The contribution of final consumption expenditure to economic growth reached 53.5% in the first three quarters, with a retail sales growth of 4% year-on-year, indicating a significant increase compared to the previous year [3]. Group 2 - Investment scale continues to expand, with project investments (excluding real estate) increasing by 0.8% year-on-year, supporting 1,459 projects in key areas [3]. - The logistics and personnel flow have become increasingly active, with the annual express delivery volume surpassing 18 billion pieces, reflecting a 3.5% year-on-year growth [3]. - Policies aimed at boosting consumption, such as the "Two New" policy and measures to expand service consumption, are being implemented to align with new consumer demands and guide industrial innovation [4][6].

当前，全球经济增长放缓，外部环境的不确定性、不稳定性增加。通过"坚持内需主导"，有助于增强我 国经济发展的自主性、稳定性和韧性，以中国经济高质量发展的确定性应对外部挑战。 商务部研究院流通与消费研究所研究员关利欣表示，从问题导向看，明年我国面临的外部环境变化影响 加深，国内供强需弱矛盾突出，亟须通过持续扩大内需、优化供给，充分挖掘经济潜能。从目标导向 看，强大国内市场是中国式现代化的战略依托，要通过政策支持和改革创新并举，建设强大国内市场， 实现"十五五"良好开局。 中央经济工作会议明确指出"国内供强需弱矛盾突出"。当前经济运行中消费内生动力不强，我国居民消 费率与发达国家相比仍有差距，特别是服务消费占比偏低等问题较为突出。扩大内需是打通经济循环堵 点、推动经济持续回升向好的关键。 "这是基于对当前国内外经济形势的深刻研判。"国务院发展研究中心市场经济研究所市场流通研究室主 任陈丽芬表示，从国内看，当前我国经济发展面临有效需求不足、国内大循环存在卡点堵点等制约；从 国际看，外部环境变化影响加深，面临的不确定性增大。将扩大内需确立为主导战略，以内需的稳定发 展对冲外需的不确定性，筑牢中国经济内生动力的基石，这也 ...

Core Viewpoint - In 2025, China's economy is expected to show resilience and vitality despite external challenges and domestic supply-demand imbalances, with a focus on expanding domestic demand and enhancing the quality of goods and services [1] Group 1: Economic Strategy - The Central Economic Work Conference emphasizes the importance of expanding domestic demand as a primary strategy for economic development, aiming to build a strong domestic market [1] - The strategy includes increasing the supply of high-quality goods and services, which is seen as essential for modernizing China's economy [1] Group 2: Supply and Demand Dynamics - The current issue in China's consumption market has shifted from "supply shortage" to "supply-demand mismatch," where consumers seek high-quality and personalized products that are not adequately supplied [2] - Expanding the supply of quality goods and services is not merely about increasing quantity but about aligning production with consumer needs, enhancing product quality, and improving service professionalism [2][3] Group 3: Consumer Behavior and Market Trends - Consumer spending is transitioning from "survival-type" to "enjoyment-type," with a significant increase in service consumption, projected to reach 46.1% of per capita spending by 2024 [3] - There is a growing demand for high-quality domestic products and green intelligent products, indicating a shift towards quality-oriented consumption [3] Group 4: Challenges in Supply Expansion - Key challenges in expanding the supply of quality goods and services include avoiding supply-demand misalignment, preventing quality traps, and addressing regional imbalances in supply availability [4][5] - It is crucial to ensure that supply is guided by market demand, emphasizing innovation and quality while also balancing urban and rural supply [4][5]

Group 1 - The core focus of the recent Central Economic Work Conference is to prioritize domestic demand and build a strong domestic market as the main task for economic work in the coming year [1] - The current economic situation reveals a contradiction of "strong supply but weak demand," indicating that while domestic supply capacity is robust, effective demand remains insufficient [1][2] - The strategy of expanding domestic demand is seen as a direct approach to address structural contradictions, aiming to stabilize the domestic cycle to counter external uncertainties [1][5] Group 2 - The conference outlines six interconnected strategies to achieve the goal of "domestic demand-led growth," emphasizing the importance of both increasing income and optimizing supply to stimulate consumption [2] - Specific initiatives include the implementation of consumption promotion actions and urban resident income increase plans, which aim to enhance consumer purchasing power and improve the quality of goods and services available [2][3] - Investment stabilization and urban renewal are highlighted as long-term strategies to boost demand and improve supply structure, with examples of effective projects that enhance both investment and living standards [3][4] Group 3 - The focus on domestic demand is fundamentally about enhancing residents' consumption capacity and experience, which is essential for stimulating internal demand [4] - The strategy is not intended to neglect external markets but rather to create a new development pattern that promotes both domestic and international cycles, leveraging external surpluses and internal capacities for stronger growth [5]