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People's Financial Review: "Double Festivals" are approaching, and multiple measures are taken to promote consumption

Sirui
September 26, 2023 09:01 | Source: People's Daily Online - Viewpoint Channel
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Heilongjiang launched a series of activities of "About Huilongjiang Autumn Festival", focusing on the fields of automobiles, home appliances, department stores, clothing, catering, etc., and will issue more than 50 million yuan of consumption vouchers; Beijing released the "Beijing in the Moonlight" city night tour guide recommendation list selection activity to stimulate the consumption momentum of the night economy; The 14 departments in Chongqing jointly issued the relevant notice, proposing 12 measures to promote and expand household consumption... The Mid Autumn Festival and the National Day are approaching, the policies of various regions are intensively released, and the "consumption engine" is speeding up again. A variety of consumption promotion activities have been welcomed and praised by consumers.

The report of the Twentieth National Congress of the Communist Party of China proposed that "efforts should be made to expand domestic demand and enhance the fundamental role of consumption in economic development". Consumption is linked to the macro economic market on the one hand and the good life of thousands of households on the other. Holidays are of great significance in stimulating consumption and promoting economic growth. It is timely to further grasp the opportunities of holidays and festivals and effectively stimulate consumption growth.

To promote consumption, we should pay attention to both "time" and "location". Relying on the Mid Autumn Festival and the National Day, the "Golden Nine and Silver Ten" will welcome the peak consumption season again. The so-called "Tianshi" means that the merchant platform, in combination with the special time nodes of holidays, organizes holiday activities, pushes time limited promotions, and continuously enlivens the consumer market. The "geographical advantage" refers to the promotion of consumption activities carried out by various platforms in different regions according to their own characteristics. For example, those with rich traditional culture can focus on the combination of ancient and modern times, and those with specific food culture can promote special food, so as to make the promotion of consumption more attractive, attract foreign tourists while retaining local consumers, and deepen the brand effect of holiday economy.

Consumption recovery should focus not only on "quantity" but also on "quality". While paying attention to consumption data, we should also pay attention to the structure of consumption. In the consumption data for August released recently, the consumption demand for upgrading goods continued to release, the service consumption grew rapidly, the new consumption developed rapidly, and the rural consumption recovered rapidly. In the future, on the one hand, we should optimize the consumption carrier, and constantly stimulate urban and rural consumption with the help of the three-year action of a quarter of an hour convenient living circle and the three-year action of county commerce; On the other hand, it is also necessary to combine actual needs to promote mutual empowerment of business travel, sports and physical fitness, online and offline integration, create more immersive, experiential and interactive consumption scenarios, advocate the concept of green and low-carbon consumption, and promote green and intelligent consumption.

To promote the sustained recovery and expansion of consumption, both "current" and "long-term" needs to be taken into consideration. The Ministry of Commerce has designated this year as the "Year of Consumption Boost", and many places have made schedules to strive for "theme in every quarter, exhibition in every month, and scene in every week". Wave after wave of consumption activities can bring benefits and convenience to consumers, and can significantly improve consumption in the short term. On this basis, we should continue to improve the long-term mechanism for expanding residents' consumption, focus on improving residents' income, improving social security, and stabilizing expectations. Only when residents have stable income to consume, dare to consume without worries, and enjoy a favorable consumption environment can they better release the consumption potential and further enhance the fundamental role of consumption in economic development.

Based on the "two festivals", the supply and demand sides will release the consumption potential in coordination, and give full play to the existing advantages of the super large market with more than 1.4 billion people. The consumer market in the fourth quarter is expected to continue its popularity, usher in more opportunities and development space, and contribute to the sustainable recovery of China's economy.

(Editor in charge: Zhao Jing, Qu Yuan)

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