详见：国家发展改革委产业经济与技术经济研究所研究员涂圣伟文章《当前扩大内需须在供需两侧协同发力》 2026年1月3日，2026"购在中国"暨新春消费季启动仪式在上海举行。"购在中国"系列活动聚焦商品消 费、服务消费、消费场景三大主题，在全国举办"乐购新春"、精品消费月、国际消费季等专题活动， 营造浓厚消费氛围，激发消费市场活力。图为当日市民、游客在上海一家传统食品销售商店内选购。 新华社记者 方喆/摄 （策划：侯亚景） 改革开放以来，我国供需关系历经复杂变化，经济政策也在供给侧和需求侧之间相机抉择，推动了经济总体不断 向前发展。20世纪90年代中后期前，我国一直是供给短缺型经济，总需求持续大于总供给，彼时调控的重点是管 理总需求、平抑通货膨胀、稳定市场物价。1998—2012年左右，受亚洲金融危机、国际金融危机相继冲击，内需 不足问题开始突显出来，总供给大于总需求成为经济运行的主要矛盾，相应的政策更多是保持经济平稳运行、扩 大国内需求。党的十八大以来，我国经济发展进入新常态，经济运行的主要矛盾从总需求不足转变为供给结构不 适应需求结构的变化，矛盾的主要方面转到供给侧，深化供给侧结构性改革相应成为宏观调控的主线 ...

Core Viewpoint - Expanding domestic demand is essential for maintaining the sustainable and healthy development of China's economy, as highlighted by the 20th Central Committee's emphasis on addressing "insufficient effective demand" as a risk challenge [1] Group 1: Economic Dynamics - The dynamic balance between total supply and total demand is a prerequisite for the smooth operation of the socialist market economy, influencing overall output and price levels [2] - Historically, China's economic policies have shifted between supply-side and demand-side adjustments, reflecting changes in the supply-demand relationship [3] Group 2: Consumption and Investment - Consumption plays a foundational role in the national economy and is a key focus for expanding domestic demand, with current issues including low consumer spending and insufficient service consumption [5][6] - Investment dynamics show a weakening of investment momentum and a decline in the marginal return on capital, with private investment confidence notably low [5] Group 3: Structural Imbalances - The supply-demand imbalance is not only a matter of quantity but also reflects structural mismatches, with certain sectors experiencing oversupply while others face shortages [6] - The aging population and technological advancements are significant factors affecting supply-demand adjustments, with implications for long-term economic balance [12] Group 4: Policy Recommendations - To address the supply-demand imbalance, it is crucial to implement coordinated efforts between supply-side and demand-side policies, enhancing the adaptability and balance of supply and demand [14][15] - Promoting a virtuous interaction between consumption and investment is essential, with a focus on optimizing government investment structures and fostering private investment [15] Group 5: Domestic and International Circulation - Expanding domestic demand should not come at the expense of external demand; rather, it should enhance the connection between domestic and international markets [17] - A proactive open strategy is necessary to adapt to international changes, ensuring that China can effectively participate in global industrial cooperation and supply chain management [17]

Group 1: Economic Stability and Challenges - The overall operation of the economy is stable and shows strong vitality and resilience, but it faces several risks and challenges [1] - Emphasis on the need to balance effective markets and proactive government roles, total supply and total demand, and the cultivation of new and the updating of old driving forces [1][2] Group 2: Market and Government Relationship - The relationship between government and market is a core issue in economic reform, requiring a balance that allows for both market efficiency and government oversight [2] - The market's role in resource allocation is crucial, and the government must address market failures while maintaining order [2][3] Group 3: Supply and Demand Dynamics - Total supply and total demand must be in dynamic balance for a healthy socialist market economy, with a focus on both sides working together to enhance economic growth [4][5] - Demand-side management focuses on short-term adjustments, while supply-side management aims to improve structural issues [4] Group 4: New and Old Driving Forces - The cultivation of new driving forces and the updating of old ones are interconnected, with technology innovation leading the way for new industries while upgrading traditional sectors [7][8] - The process of transitioning from old to new driving forces requires a careful balance and integration of both [7][8] Group 5: Resource Optimization - The relationship between optimizing new resources and revitalizing existing ones is essential for improving resource allocation efficiency [9][10] - Revitalizing existing resources can create opportunities for new investments, enhancing overall economic development [10] Group 6: Quality and Quantity in Economic Development - The relationship between enhancing quality and expanding total economic volume is a dialectical unity, where both aspects are necessary for sustainable growth [11][12] - Economic development must focus on both quantity and quality to meet the higher demands of modernized socialist construction [12][13]

Group 1: Economic Stability and Challenges - The overall operation of the economy is stable and shows strong vitality and resilience, but it faces several risks and challenges [1] - Emphasis on the importance of balancing various economic relationships, including effective market and proactive government, total supply and total demand, and new and old driving forces [1] Group 2: Market and Government Relationship - The relationship between government and market is a core issue in economic reform, with a focus on achieving a balance that allows for both market efficiency and government oversight [2] - The market's role in resource allocation is crucial, and the government must address market failures while ensuring a well-functioning market system [2][3] Group 3: Supply and Demand Dynamics - Total supply and total demand are interrelated aspects of market economy, and their dynamic balance is essential for healthy economic operation [4] - Effective economic management requires coordinated efforts from both supply and demand sides to ensure strong interaction and balance [4][5] Group 4: New and Old Driving Forces - The cultivation of new driving forces and the updating of old driving forces are interconnected, with new forces emerging from technological innovation and old forces needing transformation [7][8] - Emphasis on the importance of integrating technological advancements into traditional industries to facilitate a smooth transition between new and old driving forces [8] Group 5: Resource Optimization - The relationship between optimizing new resources and revitalizing existing resources is crucial for improving resource allocation efficiency [9][10] - Revitalizing existing resources can create opportunities for new resource optimization, leading to enhanced economic development [10] Group 6: Quality and Quantity in Economic Development - The relationship between enhancing quality and expanding total quantity is a dynamic process essential for modernizing the economy [11][12] - Quality improvements provide the necessary drive for quantity growth, while quantity accumulation lays the foundation for quality enhancement [12][13]