Resolutely implementing the strategy of expanding domestic demand will help accelerate the construction of a new development pattern, address risks and challenges such as weak global economic recovery and insufficient total demand, and promote stable and far-reaching high-quality economic development. At the beginning of the year, various regions and departments adhered to the strategic basis of expanding domestic demand, and a series of policies and measures to promote consumption and stabilize investment continued to be effective. The potential for domestic demand was accelerated and the driving effect was significantly enhanced. In the first three quarters, the contribution rate of domestic demand to economic growth increased to 113%, of which the contribution rate of final consumption expenditure to economic growth reached 83.2%, effectively hedging the pressure of external demand contraction and playing a "booster" and "stabilizer" role in the overall recovery of the economy. By expanding domestic demand, China has effectively responded to the Asian financial crisis in 1998, the international financial crisis in 2008, and the impact of the COVID-19 epidemic since 2020, and has accumulated successful experience. At the beginning of the year, various regions and departments faced new situations and challenges, coordinated the expansion of domestic demand and deepened supply side structural reform, actively expanded domestic demand, fully played the fundamental role of consumption and the key role of investment, and promoted economic recovery and improvement. Prioritize the recovery and expansion of consumption. Various regions and departments should prescribe targeted measures, establish and improve long-term mechanisms to expand household consumption, so that residents have stable income to consume, no worries to consume, and a favorable consumption environment with a strong sense of willingness to consume. The National Development and Reform Commission has issued measures to restore and expand consumption, while the Ministry of Commerce and other departments have introduced several measures to promote home consumption and promote high-quality development of the automotive aftermarket. From the year of consumption boost to the consumption promotion month, to the international consumption season and the Golden Autumn Shopping Festival... This year, consumer promotion policies have been implemented one after another, and consumer promotion activities have been exciting. The quality and level of supply in the consumer market have been continuously improving, and the potential for consumption has been accelerated. Provide new experiences and inject new vitality. Coincidentally on the weekend, the weather is sunny, and the Jinshan Ancient City Scenic Area in Qingyun County, Shandong Province is bustling with activity. In the dinosaur museum, dinosaur fossils make children linger and forget to leave; At the Folk Museum, tourists can experience local culture through old photos and objects. With a single trip and multiple experiences, Qingyun County combines cultural characteristics and folk resources to create new experiences and stimulate greater potential for cultural and tourism consumption. Since the beginning of this year, Jinshan Ancient City has received over 1.5 million tourists. Create new scenes and form new hotspots. "I couldn't imagine before that even southerners could feel the joy of flying on the snow."
Edit：Hou Wenzhe Responsible editor：WeiZe
Source：economic daily
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