The China Wealth Management 50 Forum 2024 Annual Meeting (the 11th session) was officially held today in Peking. Bai Chong'en, Chairman of the CWM50 Academic Committee, Vice Chairman of the All-China Federation of Industry and Commerce, and Dean of the School of Economics and Management at Tsinghua University pointed out that to increase the share of Consumer spending in GDP, it may be necessary to consider a new indicator, which is not just about direct Consumer spending, but also includes some expenditures that provide direct welfare to residents, namely livelihood expenditures, counting them in, including spending on Education, Medical, culture, and Sports. These expenditures bring direct benefits to residents, but are not included in the statistics of Consumer spending. "If we only focus on Consumer spending, this narrow indicator may overlook the indicators of livelihood expenditures in public spending." "Can we say that our policy target is broad-based Consumer spending that combines the direct Consumer spending with the government's livelihood spending? This would be a more suitable policy goal," said Bai Chong'en. (Financial Frontline)