Consumption is an important engine of economic growth, an important support for smooth circulation of the national economy, and a huge potential for my country's economic development. Recently, the General Office of the CPC Central Committee and the General Office of the State Council issued the "Special Action Plan to Boost Consumption" (hereinafter referred to as the "Plan"), proposing 30 policy measures from 8 aspects, releasing the firm determination of the Party Central Committee to boost consumption with greater efforts and more precise measures to the whole society.

Consumption is the ultimate demand, which is related to both economic development and the people's yearning for a better life. In recent years, among the "three horses" that drive the economy in my country, the role and status of consumption have become more prominent, and consumption has become the main driving force for driving my country's economic growth. In 2023, consumption contributed 82.5% to my country's economic growth. Since 2024, in the face of the complex and severe situation of my country's economic development, General Secretary Xi Jinping has presided over meetings of the Political Bureau of the Central Committee to analyze and study the economic situation and deploy economic work on many occasions. He has proposed in a targeted manner to "focus on boosting consumption as the focus" to expand domestic demand" in response to prominent issues such as insufficient domestic demand, vigorously launching "two new" policies to continuously release consumption potential. In 2024, the total retail sales of consumer goods nationwide was 48789.5 billion yuan, an increase of 3.5% over the previous year; more than 6.8 million cars were traded for new cars nationwide, and more than 36 million consumers purchased more than 56 million home appliances for new products in eight major categories, "renewal" subsidy for home decoration, kitchen and bathrooms was about 60 million subsidized products, more than 1.38 million electric bicycles were traded for new cars, and the sales of consumer goods were driven by more than 1.3 trillion yuan in sales. The stable growth of my country's consumer market has provided important guarantees for the stable operation of the economy, and the fundamental role of consumption in my country's economic development has been continuously enhanced.

All-round expansion of domestic demand and boosting consumption is the top priority. The Central Economic Work Conference held at the end of 2024 listed "vigorously boosting consumption, improving investment efficiency, and expanding domestic demand in all aspects" as the first of all key tasks this year, and proposed to implement special actions to boost consumption. This year's government work report further emphasized "vigorously boost consumption" and made arrangements for "implementing special actions to boost consumption", proposing to formulate special measures to improve consumption capacity, increase high-quality supply, and improve the consumption environment, release diversified and differentiated consumption potential, and promote consumption quality improvement and upgrading. The recently released "Plan" is a deepening implementation and detailed deployment of the spirit of the Central Economic Work Conference and the government work report. The "Plan" deploys seven major actions, including the urban and rural residents' income increase promotion action, the consumption capacity guarantee support action, the supply side's service consumption quality improvement and benefit the people, the bulk consumption update and upgrading action, the consumption quality improvement action, the consumption environment improvement and improvement action, and the external environment side's consumption environment cleaning and optimization action, etc., further emphasizes the improvement of various consumer support policies such as investment, finance, credit, and statistics. The "Plan" adheres to the combination of goal-oriented and problem-oriented approaches, aiming to promote consumption expansion, quality improvement and upgrading, and further resolves the prominent contradictions and problems that restrict consumption. It is a comprehensive document that promotes comprehensive efforts between supply and demand, coordinates the promotion of consumption and benefit people's livelihood, and strengthens the coordination of consumption policies. It provides effective institutional supply for my country to vigorously boost consumption and expand domestic demand in all aspects, and injects strong confidence and motivation.

After long-term efforts, my country has introduced many reform measures in promoting consumption and achieved significant results, providing basic conditions and favorable advantages for the implementation of the "Plan". my country has a population of more than 1.4 billion and more than 400 million middle-income groups with the largest and best growth potential in the world. It has been ranked second largest commodity consumer market and largest online retail market for more than ten consecutive years. The income of Chinese residents has steadily grown, and urban and rural residents have both consumption capacity and consumption upgrading demand. The consumption gap between urban and rural areas in my country and between different groups is still large, and there is still a large gap in the overall consumption level compared with developed countries, and it has great development potential. In addition, my country's consumer market has strong innovation. With the development of technologies such as the Internet, big data, and artificial intelligence, new consumption forms and models have gradually been cultivated and expanded, and new market space is still expanding. From January to February this year, my country's total retail sales of consumer goods increased by 4% year-on-year, 0.5 percentage points faster than the previous year. The policy of ex-new consumer goods has driven the rapid growth of retail sales of corresponding categories of goods. At present, the advantages of my country's super-large-scale consumer market have not changed, and the support conditions and basic trends of consumption have not changed. With the implementation of a series of policy measures in the "Plan", my country's consumer market will surely usher in new growth points and development opportunities.

"No matter how difficult it is, you are brave and brave." Boosting consumption is not only an important tool for expanding domestic demand and stabilizing growth, but also a major measure to transform the development model in the medium and long term. We must implement the various deployments of the "Plan" in light of actual conditions, place boosting consumption in a more prominent position, strengthen coordination and linkage, improve the working mechanism, form a joint force to promote consumption, promote the implementation of various policies and measures to boost consumption faster and better, and promote the sustained recovery and improvement of my country's economy.