Southeast Asia Information Port (www.dnyxxg.com) – Zhou Chen, Director of the Department of National Economic Comprehensive Affairs of the National Development and Reform Commission (NDRC), revealed in Beijing on the 20th that relevant departments are currently studying and formulating an action plan to stabilize employment, expand capacity, and improve quality, as well as a plan to increase the income of urban and rural residents. The aim is to enhance residents' consumption capacity and optimize the supply of consumer goods.
Zhou Chen addressed the topic of boosting domestic demand at a press conference held by the State Council Information Office that day. Addressing the still prominent contradiction between supply and demand in China, Zhou Chen stated that it is necessary to closely integrate improving people's livelihoods with promoting consumption. He specifically mentioned that the service sector has now become a key area for expanding domestic demand. This year, the NDRC will promote the implementation of an action plan to expand and improve the quality of the service industry, introducing a series of high-value policies to strongly support the high-quality and efficient development of the service sector.
At the same time, it is necessary to closely integrate "investment in things" with "investment in people." "Investment is both current demand and future supply, and a portion of it can be directly converted into workers' income," Zhou Chen said. He stated that the NDRC will adhere to a top-down approach, combining both tangible and intangible measures, making good use of various government investment funds, optimizing the structure of government investment, increasing the proportion of government investment in livelihood projects, and promoting demand growth. Meanwhile, the issuance and use of new policy-based financial instruments will continue to attract more private investment and social capital.
Furthermore, policy support and reform innovation must be closely integrated. Zhou Chen stated that the State Council has recently deployed a package of policies to promote domestic demand through fiscal and financial coordination, primarily aiming to achieve a "1+1>2" policy effect through loan interest subsidies and guarantee compensation.
He said that relevant departments will also actively utilize reform and innovation methods to address bottlenecks in the healthy cycle of supply and demand, including clearing unreasonable restrictions in the consumption sector, promoting pilot programs for new consumption formats, models, and scenarios, optimizing investment and financing mechanisms, improving the long-term mechanism for private enterprises to participate in the construction of major national projects, stabilizing investment, accelerating the construction of a unified national market, and further smoothing the domestic economic cycle. (End)
