Core Viewpoint - The article emphasizes the importance of improving the income distribution structure to stimulate consumption and promote economic growth in China, suggesting that enhancing disposable income for residents is crucial for driving internal demand and economic recovery [1][2][3]. Group 1: Economic Growth and Income Distribution - The relationship between macro income distribution structure and economic growth is a long-standing research theme, indicating that the distribution of income among enterprises, government, and households can significantly influence economic growth through consumption and investment [6][7]. - China's current economic challenges include over-investment and under-consumption, with a low share of disposable income for residents compared to developed countries, which hinders consumption growth [11][14][17]. - The article highlights that the income distribution structure in China has been increasingly skewed, with a significant gap between urban and rural incomes, necessitating government intervention through effective redistribution mechanisms [7][8][14]. Group 2: Policy Recommendations - To stimulate consumption and economic growth, the article suggests increasing transfer payments to households, optimizing government spending, and reforming the tax system to enhance disposable income [4][22][25]. - Specific measures include raising the personal income tax threshold, reducing tax rates for low- and middle-income groups, and improving the transfer payment system to ensure funds reach those in need [26][27]. - The article advocates for a balanced approach in fiscal policy, emphasizing the need to support both consumption and investment while addressing social welfare and public service spending [40][41]. Group 3: Consumption Structure and Service Sector - The article notes that service consumption is on the rise globally, and China should aim to increase the share of service consumption in total household expenditure, which currently lags behind developed countries [29][31]. - It suggests that government purchases can stimulate market supply and related investments, particularly in the service sector, to enhance overall economic demand [32][33]. - The article also emphasizes the need for tax reforms that align with economic structure adjustments, supporting modern industries and consumption upgrades [33][34].

文/ 中欧国际工商学院经济学与金融学教授、中欧陆家嘴国际金融研究院高级学 术顾问 盛松成 稳增长政策应重视收入分配结构与促消费、稳增长的关系。在已有研究的基础 上，分析宏观收入分配结构对经济增长的影响，并针对我国居民可支配收入占 比低、再分配调节不够合理、民生领域支出有待增加等实际情况，从增加居民 部门可支配收入、提高边际消费倾向、引导需求结构向消费倾斜等方面，提出 一系列政策建议。 2024年我国顺利实现经济社会发展预期目标，全年GDP同比增长5.0%，其中四季度增长5.4%，为年内最高增速，成绩来之不易。但也要看到，很多积极 变化只是初步的，仍须夯实经济回升向好的基础。随着外部环境不确定性加大，内需重要性将更加突出，尤其是消费将在今年经济增长中扮演更重要的角 色。从2024年底召开的中央经济工作会议看，政策着力点也将更多转向惠民生、促消费。 由于居民和政府两大部门在收入分配中的份额及其消费支出在很大程度上直接决定了一个经济体的消费发展水平，完善再分配机制，可能是激发消费内生 动力、促进经济增长的一把"钥匙"。"再分配"是指政府或公共部门通过税收、社会保障、财政转移支付等政策工具，对初次分配（往往是由市场机 ...