Core Viewpoint - The article emphasizes the importance of boosting consumption not only as a means to adjust total demand and stimulate growth in the short term but also as a way to generate new, diverse, and high-level consumption demands that can guide high-quality investments [1][4]. Group 1: Consumption Potential - China's consumption rate in 2024 is projected to be only 56.6%, significantly lower than the 70%-80% typical in developed countries, indicating substantial room for growth [2]. - The relationship between consumption and economic growth is highlighted, with rising per capita GDP and disposable income correlating with increased consumption rates. China's current per capita GDP is approximately $13,000, suggesting a considerable gap compared to developed nations [2][3]. - Income distribution is a critical factor affecting consumption potential, with data showing that developed countries had an average consumption rate of around 73% when their per capita GDP was similar to China's current level [3]. Group 2: Role of Consumption in Economic Growth - Consumption is expected to play a more significant role in this year's economic growth, especially given the uncertainties in external trade and the diminishing marginal returns of traditional investments [5][6]. - The article argues that consumption and investment are not mutually exclusive but rather mutually reinforcing, with consumption driving production, employment, and investment [5][6]. Group 3: Policy Measures to Boost Consumption - Policies aimed at stimulating consumption have shown positive results, with retail sales growing by 5.0% year-on-year from January to May 2023, and a 6.4% increase in May alone [7]. - To enhance consumer willingness, improving income redistribution is suggested as a key measure, as the current low share of disposable income among residents limits consumption growth [7][8]. - Specific recommendations include lowering tax rates for middle and low-income groups, which could provide a stable cash flow and enhance consumption [8]. Group 4: Service Sector and Foreign Investment - The article discusses the potential for service sector growth through foreign investment, drawing parallels with past manufacturing sector reforms that improved productivity and competitiveness [9][10]. - Encouraging foreign investment in services like education and healthcare could stimulate competition, break monopolies, and enhance service quality, ultimately releasing more consumption potential [9][10]. Group 5: Local Government's Role - Local governments are increasingly important in stimulating consumption, with suggestions to include consumption targets in their performance assessments [12][13]. - Optimizing the value-added tax distribution mechanism is proposed to enhance local governments' incentives to promote consumption, which could lead to more effective consumer policies [12][13].

四川富临运业集团股份有限公司 对外投资管理制度 二〇二五年二月 第一章 总 则 第一条 为了加强四川富临运业集团股份有限公司（以下简称"公司"）对外投资的内 部控制，规范对外投资行为，防范对外投资风险，保证对外投资的安全，提高对外投资的效 益，根据《公司法》《公司章程》及相关管理制度，制定本制度。 第二条 本制度适用于公司本部、所属各分、子公司（以下简称各企业）。子公司包括 公司直接和间接持股比例 50%以上的绝对控股子公司和拥有实际控制权的相对控股子公司。 按照分级管理原则，各直属子公司可结合实际制定相关制度。共同控制企业和参股企业可参 照执行。 第三条 对外投资是指各企业为获取收益或其他利益，达到控制、共同控制、重大影响 的目的，以货币资金购买股票、债券、基金；以资产进行对外投资，成立合资、合作、联营企 业；以收购、兼并、重组等方式进行扩张的经济活动。 第四条 投资目的 （一）充分有效地利用资金或资产，进行适度的资本扩张，达到控股、参股的目的，获 取预期收益或其他利益，确保资产保值增值。 （二）调整产业结构，实现公司长期发展战略目标。 2 （二）符合公司的发展战略。 （三）坚持量力而行、效益优先的原则。 ...