3. Tap the potential of domestic demand to increase the space for development
We will work to achieve a moderate expansion of aggregate demand, adjust and reform the composition of demand, strive for better alignment between supply and demand and between investment and consumption, and work to achieve greater balance in the development of urban and rural areas and of different regions. This will create steady and long-term domestic demand to sustain economic development.
– We will strengthen the foundational role of consumption in promoting economic growth.
To adapt to the trend toward high-end consumption, we will remove policy barriers, improve the consumer environment, and safeguard the rights and interests of consumers. We will support the growth of consumption in elderly care, health services, housekeeping services, educational and training services, and cultural and sports services. We will work to strengthen the growth of emerging areas of consumption such as information goods and services, smart homes, and personalized fashion. We will promote coordination, interaction, and fair competition between the online and the offline and encourage physical stores to transform themselves through innovation. We will help ensure the improvement of logistics networks and the healthy development of express delivery services. We will work to stimulate the second-hand car market, channel great effort into developing and promoting the use of new-energy vehicles, particularly electric vehicles, and move faster to build urban car parks and install charging facilities. We will carry out nationwide trials to set up consumer financing companies and encourage financial institutions to develop new consumer credit products. We will cut import tariffs on some consumer goods and increase the number of duty-free stores. We will ensure people are able to take their paid vacations, strengthen the development of tourist and transport facilities, scenic spots and tourist sites, and recreational vehicle parks, and see that the tourist market operates in line with regulations. With these efforts, we will usher in a new era of mass tourism.