Local two sessions focus on topics to promote consumption This year, consumption is expected to improve significantly
2023-01-04
Recently, the local two sessions have been held intensively. In many places, promoting consumption has been listed as the key work in 2023 in government work reports. A number of experts interviewed by Securities Daily said that in the face of increased downside risks in major overseas economies, China's steady economic growth in 2023 will be driven more by domestic demand, in which consumption will play a crucial role. With the intensive deployment of measures to promote consumption in various regions, China's consumption is expected to improve significantly in 2023. The Central Economic Work Conference, held in December 2022, proposed that the restoration and expansion of consumption should be given priority. Enhance consumption capacity, improve consumption conditions and innovate consumption scenarios. We will increase the income of urban and rural residents through multiple channels, and support the consumption of housing improvement, new energy vehicles, and elderly care services. Recently, many places have made the restoration and expansion of consumption the focus of their work in 2023, and made specific work arrangements. For example, in the 2023 government work report of Wuhu City, Anhui Province, it is proposed to focus on eight aspects of work, including "promoting the sustainable recovery of consumption, enhancing the basic role of consumption in economic development, and taking multiple measures to improve residents' income and consumption capacity", It also proposed to "cultivate new growth points of consumption by promoting supply innovation, and accelerate the recovery of clustered and contact consumption. We will revitalize online consumption platforms, build new consumption network nodes, and achieve 70 billion yuan of online retail sales, an increase of 14%". In the 2023 government work report, Jinan City, Shandong Province proposed to "promote the recovery and expansion of consumption, actively build an international consumption center against the standard, and strive to improve the consumption level and attractiveness of the provincial capital", "maintain the steady growth of bulk consumption of automobiles, household appliances and other products", and "introduce more than 50 famous first stores, brand stores and flagship stores, and promote the innovative development of" time-honored brands ". Fu Yifu, a senior researcher of Xingtu Financial Research Institute, told the Securities Daily that from a macroeconomic perspective, with the increasing risk of economic recession in major overseas economies, China's exports are also under pressure. At this time, the policy side needs to quickly release domestic demand space to strengthen the driving force of economic growth, and the importance of consumption is further highlighted. "Consumption, as the final demand, is a key link and an important engine to smooth the domestic circulation, has a lasting driving force for the economy, and is related to ensuring and improving people's livelihood." Liu Xiangdong, vice minister of the Economic Research Department of the China International Economic Exchange Center, told the Securities Daily that the priority given by various regions to restoring and expanding consumption will help better coordinate the supply side structural reform and expand domestic demand, We will fully unleash the potential of consumption and give play to the role of consumption in pulling the economic cycle. At the same time, expanding consumption can also help increase residents' income, boost market confidence, guide the economy into a positive feedback virtuous circle, and effectively play a fundamental role in supporting economic growth. Industry insiders believe that the overall performance of China's consumer market in 2022 will be weak. According to the data of the National Bureau of Statistics, in November 2022, the total retail sales of consumer goods will be 3861.5 billion yuan, down 5.9% year on year
Edit：wangwenting Responsible editor：xiaomai
Source：china.cn
Special statement: if the pictures and texts reproduced or quoted on this site infringe your legitimate rights and interests, please contact this site, and this site will correct and delete them in time. For copyright issues and website cooperation, please contact through outlook new era email：lwxsd@liaowanghn.com
Economy
Recommended Reading Change it 
Home
