On December 31st, Han Wenxiu, Deputy Director in charge of daily work at the Central Finance Office and Director of the Central Agriculture Office, issued a document stating that efforts should be made to boost consumption and improve investment efficiency. Consumption, investment, and exports are the three driving forces behind economic growth. Compared with major economies around the world, China has insufficient domestic demand and a lower consumption rate, which is both a gap and a potential. Expanding domestic demand comprehensively is an important direction for current and future policy efforts. We need to implement a special action to boost consumption, promote income growth and burden reduction for middle and low-income groups, and enhance their consumption capacity, willingness, and hierarchy. We need to strengthen the implementation of the “two new” policies, provide greater support for “two new” projects, and effectively expand consumption and investment. To cultivate new consumption growth points, expand service consumption, innovate diversified consumption scenarios, and actively develop the primary economy, ice and snow economy, and silver economy. To effectively drive social investment and stimulate the vitality of private investment through government investment.
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