十五五内需主线

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国金证券:“十五五”内需主线将围绕在“制造大国”的基础上成长为“消费大国”展开
Di Yi Cai Jing· 2025-08-20 23:44
Group 1 - The report from Guojin Securities emphasizes the need to improve the income distribution system by increasing the proportion of labor remuneration in the initial distribution and enhancing the share of disposable income for residents in national income distribution [1] - It highlights the importance of strengthening social security by addressing shortcomings in education, healthcare, and elderly care, thereby improving the supply level of basic public services, with a focus on rural pension reform to stimulate domestic demand [1] - The report suggests optimizing consumption structure through accelerated service industry opening, reducing entry restrictions for service loans, and advancing urbanization to expand service consumption while further eliminating restrictive measures in the consumption sector [1] Group 2 - It calls for the establishment of a long-term mechanism to promote consumption by increasing the "consumption rate" indicator, improving consumption-related statistical methods, enhancing local government assessment mechanisms, and accelerating tax system reforms represented by consumption tax reform [1] - The report advocates for leveraging new urbanization to unleash domestic demand potential, deepening household registration system reforms, and providing basic public services based on residence, while promoting the urbanization of rural migrant populations [1] - It notes that the development of modern urban clusters and metropolitan areas will create high-end consumption markets, which will serve as the main carriers for leading consumption upgrades [1]