Core Viewpoint - The article discusses the Chinese government's initiative to boost consumption through a comprehensive action plan, highlighting the importance of consumer spending as a potential engine for economic growth, alongside other factors such as AI-related investments and real estate market stabilization [1][2]. Group 1: Consumption Performance - The retail sales growth rate for social consumer goods increased from 3.7% in December to 4% in January-February, indicating a stabilization in consumer demand, particularly in the restaurant and communication equipment sectors [5][6]. - The "trade-in" policy is expected to enhance retail sales growth by approximately 1 percentage point, with the total subsidy for 2024 projected to reach 300 billion, significantly increasing from the previous year's 150 billion [6][7]. Group 2: Policy Impact on Consumption - The action plan aims to improve consumer capacity and willingness through various measures, including direct subsidies and incentives, which are anticipated to have a noticeable impact on consumption in the second quarter [8][9]. - Policies such as lowering housing fund loan rates and providing interest subsidies for consumer loans are expected to marginally improve residents' cash flow and enhance disposable income [9][10]. Group 3: Economic Growth Engines - The article emphasizes the need to monitor the transition from export-driven growth to domestic consumption, with real estate market recovery and fiscal spending being critical variables for economic stability [11]. - AI-related investments are projected to enter a "boom" phase, potentially driving GDP growth, with China's investment in AI expected to outpace that of the U.S. in the coming years due to its unique advantages [12].