Core Viewpoint - During the "14th Five-Year Plan" period, China's total demand increment is expected to reach 39 trillion yuan, primarily driven by the expansion of resident consumption [1][2]. Group 1: Economic Growth Drivers - The contribution of capital formation to total demand has been declining since reaching its peak between 2009 and 2014, with investment growth gradually slowing down [1]. - Although there is still significant room for investment growth during the "14th Five-Year Plan," the growth potential is narrower compared to previous five-year planning periods [1]. Group 2: Consumer Spending and Policy Recommendations - The international environment remains uncertain, making it difficult for net exports to maintain their current high contribution to growth; thus, resident consumption is becoming the "ballast" for economic growth [2]. - There is a need to increase the proportion of resident consumption in total demand to ensure reasonable economic growth [2]. - The development concept should shift towards a people-centered approach, aiming for common prosperity and continuous improvement in living standards, reflected in the sustained expansion of resident consumption and income [2]. - Policies should encourage consumption while protecting both producers' and consumers' rights, alongside accelerating income distribution reform to increase the share of disposable income in national income [2]. - Support for the development of the consumption industry and the promotion of mid-to-high-end consumer goods is essential [2].