Core Points - The Fourth Plenary Session of the 20th Central Committee of the Communist Party of China emphasized the importance of boosting consumption and expanding effective investment to enhance the domestic market [1] - The focus on expanding domestic demand, particularly consumer demand, is expected to be a priority during the upcoming "15th Five-Year Plan" period [1][3] - Analysts suggest that increasing the contribution of consumption to GDP is crucial for maintaining economic growth amid external uncertainties [3] Group 1: Economic Policies - The government aims to optimize fiscal spending to raise public consumption rates to the global average, thereby stimulating private sector consumption [3] - Recommendations include implementing policies for replacing old consumer goods and increasing the scale of special government bonds to support these initiatives [3] - Monetary policy suggestions involve potential interest rate cuts and structural monetary tools to support service consumption and improve consumption infrastructure [3] Group 2: Investment Strategies - Investment in human capital, such as education and healthcare, is seen as a key method to enhance consumer spending and improve living standards [4] - Specific policy directions include reducing medical expenses related to childbirth and providing economic support to families [4] - The report highlights the importance of skill training and job creation initiatives to drive employment and consumption [4] Group 3: Infrastructure and Industry - Recommendations for expanding effective investment include increasing government investment, enhancing industry guidance, and optimizing the environment for foreign investment [5] - The integration of "new infrastructure" with traditional infrastructure is suggested to support high-quality projects like 5G and smart cities [5] - There is a call to attract private capital into infrastructure projects and to establish specialized industry funds for key sectors such as semiconductors and renewable energy [5]