Core Viewpoint - The Ministry of Agriculture and Rural Affairs, along with ten other departments, has released the "Implementation Plan for Promoting Agricultural Product Consumption," which aims to boost consumer spending in the second half of the year, following strong performance in the first half of 2023 [1] Group 1: Consumer Spending Trends - In the first half of 2023, the retail sales of consumer goods showed a steady increase, with the growth rate in the second quarter rising by 0.8 percentage points compared to the first quarter, contributing 52% to economic growth [1] - The average contribution rate of final consumption to China's economic growth over the past four years has been 56.2% [1] Group 2: Policy Measures - The issuance of long-term special government bonds has significantly stimulated consumption, with 162 billion yuan allocated in January and April, leading to a 5% year-on-year increase in retail sales of consumer goods in the first half of the year, surpassing last year's growth by 1.5 percentage points [2] - A third batch of 69 billion yuan in special government bond funds has been allocated to support the replacement of old consumer goods, with an additional 69 billion yuan expected to be released in October [2] Group 3: Supply and Demand Optimization - The consumer market has shown a clear trend towards new products, with upgrades in smart vehicles, smart home appliances, and digital products, indicating a dual push from both supply and demand sides [3] - There is a need to further optimize the supply of consumer goods to align with current market demands, encouraging consumers to spend willingly [3] Group 4: Consumer Environment Improvement - The consumer environment encompasses various aspects such as supply, order, rights protection, and governance, all of which impact consumer confidence [4] - The "Special Action Plan for Boosting Consumption" and the "Three-Year Action Plan for Optimizing the Consumer Environment (2025-2027)" aim to enhance the consumer environment, with a focus on improving product recall systems and addressing unreasonable restrictions on consumer spending [4] - As of June 30, 2023, there have been 6,470 product recalls involving 108 million items, indicating ongoing efforts to improve consumer safety and confidence [4]