（作者为北京大学经济学院教授、北京大学国民经济研究中心主任，本报记者郭雪岩采访整理） （文章来源：人民日报） 影响消费动力的原因可总结为两方面。收入预期不稳。2025年全国居民人均可支配收入增速较上年有所 下降。收入来源稳定、预期平稳增长，居民就能正常安排支出，有改善生活质量、增加消费的底气。供 需不匹配。2025年消费品价格同比下降0.3%，反映出实物消费品供给过剩。与之相对，高质量、高附 加值消费需求旺盛，但供给相对不足，如哪吒的火爆出圈、"情绪价值"类消费品的流行，需进一步推进 供给侧升级。 推动消费增长，可从三方面发力。完善保障机制，着眼长远制定实施城乡居民增收计划，涉及收入分配 设计、体制机制改革等；短期则可通过完善医保体系等，降低居民顾虑。健全法律法规，规范市场，畅 通投诉渠道，透明执法监督，让消费者权益在发生纠纷时能得到保障，降低消费隐性成本，提升消费活 力。持续清理消费领域不合理限制措施，进一步落实带薪休假政策，引导错峰休假，进一步放开部分二 线城市买房、买车限制等。 2025年我国社会消费品零售总额首超50万亿元，超大规模市场优势持续显现。2025年投入3000亿元用于 消费品以旧换新，社会 ...

Core Viewpoint - The current "anti-involution" initiative in China is a significant theme that encompasses various sectors, including upstream, midstream, and emerging industries, with positive market feedback [1] Group 1: Anti-Involution Leadership - The "anti-involution" movement in midstream and emerging industries is primarily led by private enterprises rather than state-owned enterprises, marking a departure from previous policies like capacity reduction and supply-side reforms [1] - The current capacity reduction policies are market-driven and more targeted compared to past initiatives [1] Group 2: Addressing Supply and Demand Mismatch - To address the mismatch between supply and demand, it is essential to regulate capacity and output, and to boost domestic demand, particularly by stabilizing the real estate market and enhancing consumer demand [2] - Chinese companies should expand their vision beyond domestic markets to global markets, which can alleviate domestic "involution" pressures and improve capital returns [2] Group 3: Market Clearing - For smoother market clearing, it is crucial to regulate local government actions, including reducing subsidies and bailouts for failing enterprises [2] - More detailed regulatory and industry rules are needed to facilitate the exit of outdated capacities from the market [2] Group 4: Long-term Perspective - The "anti-involution" initiative is not expected to yield immediate results and will require patience, with a focus on clearer policy guidance for achieving key objectives over the next three to five years [3]