近日，《学习时报》刊登两篇关于资本市场可提振消费的文章，其中安徽 大学商学院院长 周泽将指出，稳定的股市不仅能够为实体经济注入更多 的资本活水，还能通过财富效应、心理效应和预期效应反向推动消费，增 强经济内循环的动力。与此同时，南京大学长江产业发展研究院常务院长 刘志彪、 南京大学长江产业发展研究院特约研究员 王茂祥则表示， 要 充 分发挥资本市场提振消费的作用，明确其传导机制与实践路径，有效提升 居民消费能力及消费潜力，推动消费市场持续繁荣，并以消费繁荣反哺企 业发展，增强企业可持续发展能力，促进经济循环畅通，为构建我国新发 展格局、推动经济高质量发展提供坚实支撑。 稳股市让老百姓的消费底气更足 文/安徽大学商学院院长 周泽将 股市是经济发展的晴雨表，关乎亿万家庭的财富增减与消费底气。 今年3月，中共中央办公厅、国务院办公厅印发《提振消费专项行动方案》强调，"多 措并举稳住股市，加强战略性力量储备和稳市机制建设"，凸显稳股市在拓宽城乡居民财产性收入渠道、夯实老百姓消费底气方面的重要性。 截至10月10日，沪深两市单日成交额多次突破2万亿元，上证指数、深证成指和创业板指年内已分别上涨16.27%、28.24% ...

Core Viewpoint - The article emphasizes the importance of stabilizing the stock market to enhance consumer confidence and drive economic growth, highlighting the interconnectedness of stock market performance and consumer spending [3][5][7]. Group 1: Stock Market Performance - As of October 10, the daily trading volume in the Shanghai and Shenzhen markets has repeatedly exceeded 2 trillion yuan, with the Shanghai Composite Index, Shenzhen Component Index, and ChiNext Index rising by 16.27%, 28.24%, and 45.37% respectively this year [3]. - The number of new A-share accounts surpassed 20 million by October 13, marking a year-on-year increase of over 50%, which has positively impacted household financial income [3]. Group 2: Consumer Spending Trends - Despite the stock market's rise, consumer spending growth is lagging behind stock index increases, with per capita consumption expenditure in the first half of the year at 14,309 yuan, reflecting a real growth of 5.3% year-on-year [4]. - The fluctuation in stock values directly affects household wealth and their willingness to spend, creating a psychological barrier to consumption [4]. Group 3: Economic Implications - A stable stock market can inject capital into the real economy and enhance consumer spending through wealth, psychological, and expectation effects, thereby driving economic circulation [5]. - The article suggests that improving institutional frameworks, optimizing market mechanisms, and enhancing investor protection are essential for achieving stock market stability and boosting consumer confidence [5][6]. Group 4: Policy Recommendations - The article advocates for coordinated policy measures, including maintaining adequate liquidity in monetary policy, increasing fiscal support for innovation and livelihoods, and optimizing the business environment through industrial policy [7]. - Such policy coordination is crucial for aligning stock market stability with macroeconomic policies, thereby strengthening public confidence in income and wealth, which can transform consumer willingness into actual spending [7].