Zhu Haibin, Chief Economist of JPMorgan China and Head of Economic Research for Greater China, believes that the Central Economic Work Conference has proposed nine key tasks for 2025, with the first being to vigorously boost consumption and improve investment efficiency, comprehensively expanding domestic demand. Zhu Haibin stated that it is encouraging that the importance of expanding domestic demand is highlighted, and consumption support measures are receiving greater attention. He predicts that the government will further adopt consumption support measures, such as extending subsidies for replacing old consumer goods, increasing the coverage of social security, supporting policies for childcare and Retirement services, and encouraging policies for newborns. The total scale may be in the tens of billions of yuan.