Economy

Fiscal policy injects strong momentum into consumption

2025-01-28   

To boost consumption, it is necessary to enable the people to have money to consume, that is, to enhance their consumption ability. Financial subsidies can have a direct and immediate effect. Residents also need to have a certain level of income and economic ability, and increase their income through multiple channels in order to make consumption more sustainable. This year's Spring Festival, more people will send New Year's greetings with their new phones than in previous years. In 2025, the "two new" policies will be implemented to expand the market, and digital products such as mobile phones can also enjoy subsidies for purchasing new phones. Consumers are enthusiastic and taking this opportunity to purchase new phones through the "national subsidy". This is just a microcosm of how the "two new" policies have effectively promoted consumption. Behind the "buy buy buy" craze, the real financial support of proactive fiscal policies has injected strong momentum into consumption. Expanding domestic demand is not only related to economic stability, but also to economic security. Among them, consumption is a key link in the smooth economic cycle and an important engine for economic growth, connected to both the macro economy and the people's livelihood. Since last year, China has implemented a series of consumer goods trade in policies and measures to boost consumption, especially exploring the use of large-scale central financial funds directly for people's consumption. It has specially allocated 150 billion yuan of ultra long-term special treasury bond funds to support the trade in of consumer goods, and increased subsidies for scrapping and updating cars and household appliances. The significant efforts of the "national subsidy" have enabled consumers to enjoy benefits and stimulate enthusiasm for innovation, promoting the heating up of the consumer market. Taking automobiles and eight major categories of household appliances as examples, they have driven sales of over 920 billion yuan and 240 billion yuan respectively, with significant policy effects. It can be seen that fiscal funds have played an important role in leveraging. When determining the key tasks for 2025, the Central Economic Work Conference listed "vigorously boosting consumption, improving investment efficiency, and expanding domestic demand in all aspects" as the top priority. Propose to implement a more proactive fiscal policy by 2025, emphasizing the need to "pay more attention to benefiting people's livelihoods, promoting consumption, and increasing momentum". It can be said that the "national subsidy" mobile phone craze at the beginning of the new year is just the beginning. The strength and effectiveness of this year's fiscal policy to expand domestic demand and boost consumption are worth looking forward to. To boost consumption, it is necessary to enable the people to have money to consume, that is, to enhance their consumption ability. In this regard, financial subsidies can have a direct and immediate effect. As scheduled, this year we will increase the issuance of ultra long term special treasury bond and continue to support the implementation of the "dual" projects and the "two new" policies. Intensify support for trade in of consumer goods and further expand policy coverage. At present, the central government has allocated 81 billion yuan in the first batch of funds for the trade in of consumer goods in 2025, supporting various regions to ensure the continuity of policy implementation and fully guaranteeing the subsidy needs of the people's consumption during the New Year and Spring Festival periods. In addition, this year, we will expand the scope of implementation and increase subsidy standards for some areas with high funding demand and social attention. A series of policy measures are highly targeted and supportive, demonstrating a more proactive and proactive policy orientation. To enhance consumption ability and increase consumption willingness, while subsidizing funds to support it, it is fundamentally necessary for residents to have a certain level of income and economic ability. Only by increasing residents' income through multiple channels can we make consumption more sustainable. The central government has clearly stated that this year it will appropriately increase the basic pension for retirees, the basic pension for urban and rural residents, and the financial subsidy standards for urban and rural residents' medical insurance, which has received high attention and praise from society. Only by increasing investment in people's livelihood, improving livelihood policies, highlighting the priority orientation of employment, promoting employment and entrepreneurship of key groups, and weaving a tight social security network can we better solve the worries of residents expanding consumption, promote consumption warming, and light up a better life. How to do good things and practical things well, truly achieving the effect of boosting consumption and benefiting the masses? On the one hand, policy implementation should highlight convenience and benefit for the people, simplify the subsidy process, improve the convenience and effectiveness of policy implementation, and enable subsidy funds to reach consumers faster and more conveniently, enhancing the consumer experience of the masses. On the other hand, it is necessary to strengthen fund supervision and regulate market order. Financial funds cannot become 'Tang Sanzang meat'. We must effectively manage and make good use of subsidy funds, especially to prevent and seriously investigate illegal and irregular behaviors such as fraudulently obtaining national subsidy funds, 'scalpers' reselling consumer vouchers, and merchants' practice of' raising prices first and then discounting '. In addition, the linkage between subsidy policies and financial support can be explored to effectively amplify the leverage effect of policy funds. Implementing a more proactive fiscal policy and using fiscal funds to boost consumption will provide strong support for expanding domestic demand, promote sustained economic recovery, and continuously improve people's living standards. (New Society)

Edit:Tang Yuanqi Responsible editor:He Chenxi

Source:

Special statement: if the pictures and texts reproduced or quoted on this site infringe your legitimate rights and interests, please contact this site, and this site will correct and delete them in time. For copyright issues and website cooperation, please contact through outlook new era email:lwxsd@liaowanghn.com

Recommended Reading Change it

Links