Zhao Chenxin, deputy director of the National Development and Reform Commission, stated that better leveraging the driving force of domestic demand is very clear in terms of specific ideas and methods, which involve increasing the income of low- and middle-income groups, vigorously boosting consumption, expanding effective investment, and strengthening the domestic major circulation. The next step for the authorities will be to solidly implement work in these three areas.
Regarding boosting consumption, funds for the second batch of old-for-new consumer goods have recently been allocated, with over 160 billion yuan distributed in the first two batches (the same below), and about 140 billion yuan remaining for future allocation, which will be disbursed based on the payment progress in various regions. A childcare subsidy system will also be established, special re-lending tools will be created, and support for key areas of service consumption and the CSI Old-Age Industry Index will be strengthened. At the same time, specialized actions to boost consumption will be deeply implemented, along with the prompt introduction of specialized measures in various fields, guiding restricted purchase cities to direct Private Placement of vehicle purchase indicators for key groups such as families with long-term lottery participation and families without cars.
In terms of expanding investment, the upgrading of industrial software and other updates will be included in the support scope of the 'two new' policy, accelerating investment in consumer infrastructure and social sectors. An action plan for 'doubling' charging facilities will be formulated and implemented, supporting the construction of parking spaces in urban areas with a resident population of over 3 million, especially in super-large cities. Efforts will be made to finalize the list of all projects for the 2025 'two重' construction and central budget investment before the end of June, and establish new policy-based financial instruments to address the issue of insufficient project construction capital.
To smooth circulation, the construction of a unified national market will be accelerated, and a market access barrier clearing action lasting about six months will be launched. The introduction of the Private Placement of laws to promote the private economy will be expedited to help foreign trade enterprises expand domestic sales. Meanwhile, the deep integration of technological innovation and industrial innovation will be accelerated, with the establishment of a national venture capital guidance fund to promote AI's deep integration with 60 key industry directions and 700 basic scenarios.
