China has taken a series of measures to boost domestic consumption, demonstrating its determination to continue to promote high-quality economic development, and also bringing new opportunities for countries to share China's large market.

"It helps China's economy to transform into a consumption-driven economic growth" "increasing expectations for the recovery of demand in China, the world's second largest economy."... International public opinion has paid wide attention to China's recent release of the "Special Action Plan to Boost Consumption", believing that China has taken a series of measures to boost domestic consumption, demonstrating its determination to continue to promote high-quality economic development, and also bringing new opportunities for countries to share China's large market.

Consumption is the ultimate demand, which is related to both economic development and the people's yearning for a better life. The 2024 Central Economic Work Conference and this year's China Government Work Report both list "vigorously boost consumption, improve investment efficiency, and expand domestic demand in all aspects" as key tasks. The "Special Action Plan to Boost Consumption" proposes a series of policy measures to further improve consumption capacity by increasing income and reducing burdens, create effective demand with high-quality supply, and enhance consumption willingness by optimizing the consumption environment, and further improve the system and mechanism for promoting consumption, open up new space in the consumer market, and press the "accelerator" to promote China's economic growth model to more focus on consumption. International public opinion believes that these measures "have a long-term vision" and "lay the foundation for the long-term development of the consumer industry."

Finally adhere to the word "people" and coordinate the promotion of consumption and benefiting people's livelihood. Research on establishing a parenting subsidy system, improving the subsidy standards for some students, and increasing support for consumer goods for old-for-new... The "Special Action Plan to Boost Consumption" shows a clear people's livelihood orientation. The real money policy measures are combined with more diverse and more inclusive consumption supply to effectively respond to people's livelihood needs, promote residents' income increase and burden reduction, and make the people dare to consume and willing to consume. The Financial Times believes that these measures "focus on improving household consumption capacity and willingness". If implemented properly, they will promote China's economy to transform into consumption-driven growth.

Focus on the word "new" to promote consumption quality improvement and upgrading. Develop "artificial intelligence + consumption", promote "intellectual property (IP) + consumption", vigorously cultivate quality e-commerce, orderly develop low-altitude consumption such as low-altitude tourism, aviation sports, consumer-grade drones... A series of measures aim to continuously release diversified and differentiated consumption potential and continuously create new consumption growth points. The Spanish website of "Le Economist" believes that "the new plan seeks to develop a more sustainable form of consumption" will help optimize the consumption structure and cultivate new business forms.

All-round expansion of domestic demand will provide a broader stage for the world to share China's development opportunities. China has been ranked second largest commodity consumer market and largest online retail market for more than 10 consecutive years. The consumer demand and structure of residents have been continuously upgraded, the proportion of service consumption expenditure has continued to increase, and new market space has continued to expand. Focus on the consumption upgrading needs of residents, promote the import of high-quality life services such as medical, health, culture and entertainment, and steadily promote the expansion of opening up of the service industry; carry out the China Tour of Foreign Trade Excellent Products, improve the level of domestic and foreign trade integration, and continuously optimize the business environment... A super-large-scale and continuously expanding opening up of the Chinese market will transform more "Chinese demand" into "world opportunities."

The recovery of consumption outlines a vibrant picture of China's high-quality economic development. The latest data released by the National Bureau of Statistics of China shows that from January to February this year, China's total retail sales of consumer goods increased by 4.0% year-on-year, and the consumer confidence index rebounded for three consecutive months. The survey results released by Deutsche Bank recently showed that compared with last year, Chinese consumers' confidence has increased significantly this year. The Wall Street Journal reported that "due to measures taken by China to stimulate domestic demand, China's economic data released at the beginning of the year was unexpectedly strong", with the increase in many indicators higher than expected. The Qatar News Agency website believes that as market sentiment improves, China will drive more investment in the next few years and promote further economic growth.

China's economy is striding forward on the road to high-quality development. China implements more active and proactive macro policies, expands domestic demand in all aspects, further deepens reform and opening up, and strives to enhance momentum, stimulate vitality, and improve expectations. It will promote the sustained recovery and improvement of the economy and inject more positive energy into the development of the world economy.