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Original title: Today’s point of view: To promote consumption recovery, we need to ignite a few more fires
Source: Securities Daily
Zhang Min
New Year’s Day in 2023 is the first holiday after the adjustment of my country’s new crown epidemic prevention and control policy, and it is also an important window to observe consumer confidence. Data show that tourism, film and other industries took the lead in recovering. According to calculations by the Data Center of the Ministry of Culture and Tourism, during the New Year’s Day holiday, 52.7134 million domestic tourists traveled nationwide, a year-on-year increase of 0.44%, and domestic tourism revenue was 26.517 billion yuan, a year-on-year increase of 4.0%. More than 1 million shows were shown in cinemas, and more than 12 million people watched the movie. The city’s commercial districts are gradually becoming bustling, long queues are formed in front of restaurants, and the flow of logistics, people, and capital is moving faster.
The proportion of final consumption expenditure in my country’s GDP has remained above 50% for 11 consecutive years, and it is very important to continue to consolidate this pattern. The Central Economic Work Conference held in December 2022 proposed, “Strive to expand domestic demand. The recovery and expansion of consumption must be given priority”, further emphasizing the important role of consumption recovery in the continued recovery of China’s economy.
To further release the potential of social consumption and make consumption more active, it is necessary to ignite a few more fires.
In the short term, it is necessary to continue to provide consumption assistance. Recently, Zhejiang, Chongqing, Henan and other places have issued consumer vouchers of different amounts to stimulate consumption vitality, covering catering, cultural tourism, automobiles, house purchases and other fields. These leveraging measures allow consumers to leave their homes and enter supermarkets and scenic spots. Consumption vouchers can stimulate consumption growth. It is recommended to issue consumption vouchers on a larger scale and with greater intensity during the Spring Festival.
common peopleOnly when the money bag is bulging can consumption be “running”. Therefore, relevant policies should be further improved to stabilize and promote employment, increase residents’ income, and consolidate the confidence of residents to increase consumption. The development of SMEs is related to the employment, income and daily life of a large number of people. In response to the difficulties encountered by small and medium-sized enterprises, policy coordination can be strengthened in terms of tax cuts and fee reductions, targeted subsidies, etc., to stabilize enterprises and jobs.
From the perspective of consumption structure, in addition to developing and upgrading traditional consumption, it is also necessary to actively develop service consumption and accelerate the cultivation of new consumption.
In terms of service consumption, there is still room for expansion in cultural tourism consumption and health consumption. It is now winter, and ice and snow sports are hot, so we can promote more diverse products and popularize more standardized standards to the general public. At the same time, people’s health awareness is gradually improving, and support can be increased in terms of infrastructure, consumption patterns, and key enterprises to expand the space for healthy consumption.
In terms of new consumption, in the era of digital economy, new digital consumption has penetrated into all aspects of people’s daily life. For example, smart restaurants, a new retail format, help catering companies improve efficiency through digital applications such as queuing, booking, takeaway, ordering, and settlement. ,cut costs. Excellent solutions can be promoted to empower the development of the industry.
Full recovery of consumption will not be achieved overnight. All parties need to give full play to their enthusiasm and creativity. Only by igniting a few more fires can consumption be stronger and economic growth momentum more surging!
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