At present, China has embarked on a new journey to become a socialist modern power, and is at a critical stage towards a high-income country. Consumption innovation is increasingly becoming the leading force to lead the high-quality development of China's economy in the future. The report of the Twentieth National Congress of the Communist Party of China (CPC) proposed to adhere to the theme of promoting high-quality development and organically combine the implementation of the strategy of expanding domestic demand with the deepening of supply-side structural reform. The Central Economic Work Conference proposed to give priority to the recovery and expansion of consumption. With the new round of technological revolution in the ascendant, the rapid advancement of industrial digital transformation, the profound transformation of urban and rural residents' consumption, the increasingly fierce market competition, and the century's epidemic situation boosting digital consumption into the fast lane, China's e-commerce innovation shows new vitality, including live broadcast e-commerce, short video e-commerce, social e-commerce, content e-commerce Interest in e-commerce and a number of "new models of e-commerce" that highlight the characteristics of the times have emerged and become a new driving force for the sustained and rapid development of e-commerce (3.580, -0.05, -1.38%). More importantly, these new e-commerce models show the strong cohesion of consumption resources, the organizational power of supply chain optimization, the leading power of consumption innovation and consumption fashion, and the driving force of the deep integration of the digital economy and the real economy, forming a new way to achieve a higher level of dynamic balance between demand-driven supply and demand-created demand in the digital economy era, and also to stimulate consumption innovation The creation of new supplies has injected unprecedented new vitality. At the new stage, many favorable conditions are superimposed to promote the innovative development of e-commerce, and consumption has become the leading force to lead the high-quality development of China's economy, and upgrading has become an important engine of consumption innovation. At present, China's per capita GDP has reached 85698 yuan, which is at a critical stage of continuous rise in consumption rate. The contribution rate of final consumption to GDP growth has remained above 50% for many years. It is expected that by 2025, China's consumption rate will reach 60%, and the final consumption scale will reach or exceed 90 trillion yuan. Consumption will play a more prominent role as the driving force of economic growth. At the same time, consumption upgrading has become an important feature of China's consumption innovation and promotion of high-quality development. In recent years, there has been a series of consumer innovation trends in China's consumer market, such as variety expansion, quality improvement and brand creation, which has released huge consumer power and potential, provided broad space for e-commerce innovation and development, and constantly promoted the emergence and iteration of new e-commerce models. The progress and application of digital technology have accelerated in an all-round way, providing new paths and opportunities for e-commerce innovation and optimizing the matching of supply and demand. The new round of scientific and technological revolution and industrial transformation represented by digital technology has accelerated its evolution, promoting the continuous expansion of China's online consumer market. At present, online consumption is not a substitute for offline consumption, but an important source of consumption innovation. Through variety expansion, quality improvement and brand creation, it has a significant "new effect". With the faster flow of information and lower flow costs, the data dimensions that consumer terminals can carry and display are increasingly rich and diverse, and they are constantly breaking through the limitations of time and space on consumer imagination, and promoting the extension and penetration of technology applications from the demand side to the supply side. A number of source factories, brand manufacturers, industrial clusters and interested e-commerce are combined
Edit：Hou Wenzhe Responsible editor：WeiZe
Source：Economic Information Daily
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