On January 4, at the 2025 China Chief Economist Forum annual meeting, Sheng Songcheng, the director of the China Chief Economist Forum Research Institute and a professor at China Europe International Business School, stated that Consumer will play a more important role in economic growth this year, and increasing income is the key to promoting Consumer currently. He noted that in recent years, the growth rate of income in the resident sector has slowed down, while the leverage ratio of the resident sector has continued to rise, impacting the consumption willingness and ability of individuals or the resident sector. Additionally, the share of households in redistribution also needs to be improved. Sheng Songcheng believes that fiscal and MMF policy should be tilted towards Consumer.