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The relevant person in charge of the National Development and Reform Commission has said many times before that consumption is a function of income, and it is necessary to increase the income of urban and rural residents through multiple channels to promote consumption. In fact, the series of measures deployed by the Central Economic Work Conference are also important aspects that are generally called for by academic circles and industries. Zhang Bin, deputy director of the Institute of World Economics and Politics, Chinese Academy of Social Sciences, has repeatedly stressed that the essence of insufficient demand lies in the negative cycle between "expenditure-income-credit". Therefore, it is a vital measure to boost residents' consumer confidence from the income side.

Article source: Securities TimesArticle source: Securities TimesThe relevant person in charge of the National Development and Reform Commission has said many times before that consumption is a function of income, and it is necessary to increase the income of urban and rural residents through multiple channels to promote consumption. In fact, the series of measures deployed by the Central Economic Work Conference are also important aspects that are generally called for by academic circles and industries. Zhang Bin, deputy director of the Institute of World Economics and Politics, Chinese Academy of Social Sciences, has repeatedly stressed that the essence of insufficient demand lies in the negative cycle between "expenditure-income-credit". Therefore, it is a vital measure to boost residents' consumer confidence from the income side.

Among the nine key tasks of economic work next year, "vigorously boosting consumption, improving investment efficiency and expanding domestic demand in all directions" ranks first. Among them, "consumption" has been placed in a more important position. The Central Economic Work Conference pointed out that it is necessary to grasp key links to complete the key tasks of economic work next year, and focus on boosting domestic demand, especially consumer demand.In July this year, some measures were introduced to support large-scale equipment renewal and trade-in of consumer goods (that is, "two new"). Among them, 300 billion yuan of ultra-long-term special national debt is regarded as the key driving force for the effective implementation of the "two new" policies. Judging from the landing effect, this move is also promoting the accelerated release of consumption potential. According to the data of the Ministry of Commerce, it took 79 days for the current round of national home appliance trade-in sales to exceed 100 billion yuan, and it took only 40 days from 100 billion yuan to 200 billion yuan; As of 24: 00 on December 9, the total number of automobile trade-in has exceeded 5 million, including 2.44 million scrapped and 2.59 million replaced.At the same time, the meeting also decided to "intensify efforts to expand the scope and implement the' two new' policies" next year, which is also an important point of view of the incremental policy next year. In the early stage of the trade-in policy for consumer goods, Shenzhen, Shanghai and other places have explored the expansion of financial subsidies from eight categories of household appliances to 3C products, and arranged incremental measures such as "expanding the scope" of financial funds at the same level.