Promote the formation of a strong synergy to expand domestic demand

Commentator at Nanfang Daily

Restoring and expanding demand is the key to the current economic recovery. Recently, the General Office of the Provincial Government issued the “Implementation Plan for the Strategy of Expanding Domestic Demand in Guangdong Province”, which closely follows the main goals of the strategy of expanding domestic demand during the “14th Five-Year Plan” period, and proposes a total of 27 specific measures in 8 aspects to firmly implement the strategy of expanding domestic demand in Guangdong. Promoting the formation of a strong synergy to expand domestic demand has further clarified the ideas and directions.

Implementing the strategy of expanding domestic demand is to meet the practical needs of the people’s yearning for a better life. It is a proactive choice to give full play to the advantages of the ultra-large-scale market. It is an inevitable requirement to respond to profound changes in the international environment. It is a key support for promoting economic circulation with higher efficiency. In recent years, while Guangdong has deeply participated in the international industrial division of labor, it has continuously improved the quality of supply, focused on unleashing domestic demand, and promoted the formation of strong market advantages. The supporting role of domestic demand in economic development has been significantly enhanced. The province has a permanent population of 127 million and a resident Engel coefficient of 34.3%; it has all 31 major categories of manufacturing, 15 of which rank first in the country; more than 17 million market business entities in the province are booming, and the business environment is good… Make full use of and Continuously enhancing these advantages will provide Guangdong with continuous power and vitality for high-quality development, services and integration into the new development pattern.

Currently, global economic and trade growth is sluggish, and Guangdong’s foreign trade situation remains severe and complex. As pointed out in the “Blue Book of the Guangdong-Hong Kong-Macao Greater Bay Area: China’s Reform and Innovation Report on the Guangdong-Hong Kong-Macao Greater Bay Area (2023)”, on the one hand, we must strive to stabilize external demand and promote high-level opening up; on the other hand, we must also increase efforts to promote domestic demand, To maintain the stability of total social demand. Facing the future, we must adhere to a problem-oriented approach, resolutely implement the strategy of expanding domestic demand, and take more powerful measures to address the difficulties and obstacles such as insufficient effective supply capacity, large distribution gaps, imperfect consumption systems and mechanisms, and investment structures that still need to be optimized to provide social benefits. Reproduction enables a virtuous cycle to inject more certainty.

From the Central Economic Work Conference at the end of last year, which clearly pointed out that “restoring and expanding consumption must be given priority”, to the Political Bureau meeting of the CPC Central Committee in July this year, it once again emphasized that “consumption plays a fundamental role in driving economic growth”, which fully demonstrates the comprehensive promotion of consumption. , Accelerating the quality improvement and upgrading of consumption is inevitable. Next, we must continue to increase traditional consumption and take multiple measures to expand bulk consumption such as new energy vehicles; actively develop service consumption and create cultural and tourism products suitable for young groups; accelerate the cultivation of new consumption and support the integrated development of online and offline commodity consumption; vigorously advocate Green and low-carbon consumption, and actively promote the government procurement system for green products. At the same time, we will promote common prosperity in high-quality development, improve the income distribution pattern, and establish and improve a long-term mechanism to expand residents’ consumption so that residents can, dare to consume, and are willing to consume.

To implement the strategy of expanding domestic demand, one of the important tasks is to accelerate the cultivation of a complete domestic demand system, which is inseparable from all links in the entire chain of production, distribution, circulation, consumption, investment and reproduction. To this end, we must strengthen forward-looking thinking, overall planning, strategic layout, and overall advancement, organically combine the implementation of the strategy of expanding domestic demand with deepening supply-side structural reform, comprehensively promote consumption and optimize the investment structure, and promote urban and rural regional coordination. Development, improvement of supply quality, improvement of the modern market and circulation system, deepening of reform and opening up, solid promotion of common prosperity, improvement of safety and security capabilities and other aspects of work are coordinated to cultivate a combination of improving supply quality, optimizing the distribution pattern, improving the circulation system, and comprehensively promoting consumption , expand investment space, etc. to form a complete domestic demand system.

In today’s world, the scarcest resource is the market. Promoting the formation of a strong domestic market is the policy direction of implementing the strategy of expanding domestic demand. For Guangdong, it is necessary to implement the “Hundreds and Thousands Project” in depth, accelerate the new urbanization with counties as an important carrier, actively promote rural modernization, optimize regional economic layout, and further expand the market size while promoting the coordinated development of urban and rural areas. , releasing huge investment and consumer demand; it is to improve the modern market and circulation system, promote the organic connection between production and demand, and further stimulate market vitality and Improve market resilience.

Taking the expansion of domestic demand as the strategic basis to build a new development pattern, the focus is on supporting a smooth domestic economic cycle. Guangdong, which is located at the “two frontiers”, must unswervingly use reform methods to release and stimulate market potential, combine effective markets with promising governments, break down institutional barriers that restrict the growth of domestic demand, and constantly improve institutional mechanisms to promote consumption. Promote the reform of the investment and financing system, optimize the business environment and stimulate market vitality. At the same time, we should give full play to the role of opening up in promoting domestic demand, make full use of international high-end factor resources, and continue to enhance endogenous power.

Implementing the strategy of expanding domestic demand is of great significance and involves a wide range of areas. It requires overall coordination of major relationships such as supply and demand, consumption and investment, domestic demand and external demand, quantity and quality, domestic and international, speed and effectiveness, efficiency and fairness, development and security. All departments across the province must, in accordance with the requirements of the plan, improve the organization and coordination mechanism, strengthen policy support and factor guarantees, fully mobilize the enthusiasm, initiative and creativity of all parties, and contribute more to the sustained and healthy economic development.