Steps taken to boost domestic consumption

xinwen.mobi · 发表于 2025-8-24 06:35:37

Boosting domestic consumption is a core strategy for many countries to drive economic growth, reduce reliance on external demand, and improve people’s quality of life. The specific measures typically cover multiple dimensions—increasing residents’ income, optimizing consumption supply, improving consumption infrastructure, creating a secure consumption environment, and guiding consumption concepts. Below is a detailed breakdown of common policy tools and implementation steps, drawing on practices from major economies (including China, the U.S., and the EU) up to May 2024: 1. Increase Residents’ Disposable Income: The Foundation of ConsumptionConsumption capacity directly depends on income. Governments prioritize raising income levels, especially for low- and middle-income groups (who have a higher "marginal propensity to consume," meaning they spend a larger share of additional income). Key steps include:Raise wage levels and protect labor rights: - Enforce minimum wage standards and adjust them regularly to keep pace with inflation and economic growth (e.g., China raised the minimum wage in 23 provinces in 2023; the U.S. federal minimum wage has been proposed for incremental increases). - Promote collective bargaining systems to help workers negotiate higher salaries, and crack down on wage arrears to ensure stable income flows. Expand employment opportunities: - Support labor-intensive industries (e.g., services, light manufacturing) and emerging sectors (e.g., green energy, digital economy) to create more jobs. - Provide subsidies for small and medium-sized enterprises (SMEs)—the main job creators—to reduce their operating costs (e.g., tax breaks, rent reductions, low-interest loans), helping them retain and hire employees. - Offer vocational training programs (e.g., for digital skills, elderly care, or advanced manufacturing) to improve the employability of unemployed or low-skilled groups. Optimize the income distribution structure: - Strengthen taxation regulation: Implement progressive personal income tax systems (e.g., raising tax thresholds for low-income earners, increasing taxes on high-income groups) and pilot property taxes to narrow the income gap. - Increase transfer payments: Expand coverage of unemployment benefits, basic pensions, and subsistence allowances for low-income households. For example, the EU’s *European Social Fund+* provides direct financial support to vulnerable groups. 2. Optimize Consumption Supply: Meet Diversified and High-Quality DemandA lack of high-quality, tailored products/services often leads to "consumption outflow" (e.g., residents spending abroad on luxury goods or healthcare). Governments and enterprises work together to upgrade supply

海量-Steps taken to boost domestic consumption(1)

romote industrial upgrading and brand building: - Support domestic enterprises to develop high-value-added products (e.g., smart home appliances, high-end clothing, green food) through R&D subsidies and intellectual property protection. - Cultivate national brands (e.g., China’s "Three New Products" strategy—new energy vehicles, lithium batteries, solar panels) to enhance consumer confidence in domestic goods. Expand supply of service consumption: - Boost high-demand service sectors: Elderly care, childcare, education, healthcare, and cultural tourism. For example, China has relaxed restrictions on private childcare institutions and built more community elderly care centers; the U.S. subsidizes childcare costs for low-income families. - Develop new service formats: "Home delivery +" (e.g., meal kits, medical consultations), "experience consumption" (e.g., theme parks, immersive exhibitions), and "shared services" (e.g., shared cars, co-working spaces). Bridge the "supply-demand mismatch" in rural areas: - Launch initiatives like China’s "Rural E-commerce Project" to connect rural consumers with urban suppliers, making high-quality daily necessities, home appliances, and agricultural inputs more accessible in rural markets. - Support the "rural revitalization" strategy to develop rural tourism and agricultural product processing, creating localized consumption scenarios. 3. Improve Consumption Infrastructure: Remove Barriers to SpendingInadequate infrastructure (e.g., poor logistics, limited digital access) restricts consumption, especially in rural and remote areas. Key steps focus on "connectivity" and "convenience":Upgrade logistics and distribution networks: - Build or expand regional logistics hubs, cold chain facilities (for fresh food), and last-mile delivery systems (e.g., community pickup points, smart lockers). China’s "County-Level Logistics System Construction Plan" aims to cover 80% of counties with integrated logistics services by 2025. - Reduce logistics costs through toll reductions for trucks and subsidies for rural delivery services. Promote digital infrastructure and inclusive finance: - Expand 5G and broadband coverage to rural and remote areas, enabling online shopping, mobile payments, and digital services (e.g., online education) for more residents. - Develop inclusive finance: Encourage banks to provide small consumer loans to low-income groups (with lower interest rates) and promote mobile payment tools (e.g., Alipay, WeChat Pay in China, PayPal in the West) to simplify transactions. Build and renovate consumption venues: - Upgrade traditional commercial districts (e.g., pedestrian streets, shopping malls) and build new "consumption centers" (e.g., China’s 39 designated "international consumption central cities," including Beijing, Shanghai, and Guangzhou). - Develop community-based consumption facilities (e.g., convenience stores, farmers’ markets, fitness centers) to meet daily needs. 4. Create a Secure and Trustworthy Consumption Environment: Enhance Consumer ConfidenceConsumers are more willing to spend if they feel their rights are protected and products/services are reliable. Governments focus on:Strengthen product quality supervision: - Implement stricter quality standards for food, medicine, and daily necessities, and increase random inspections. For example, China’s "Food Safety Law" imposes heavy penalties for substandard products; the EU’s *General Product Safety Regulation (GPSR)* requires full traceability of products. - Crack down on counterfeiting and false advertising (e.g., through online platform supervision, consumer tip-off rewards) to protect intellectual property and consumer rights. Improve consumer dispute resolution mechanisms: - Simplify the process for filing complaints (e.g., 24/7 hotlines, online complaint platforms like China’s 12315). - Promote "return and exchange guarantees" (e.g., China’s mandatory 7-day no-reason return policy for online purchases) and encourage enterprises to offer after-sales services. Stabilize expectations for major expenditures: - Reduce the burden of "big-ticket" spending (housing, education, healthcare)—often called the "three mountains" restricting consumption: Housing: Curb speculative real estate purchases through purchase restrictions and loan interest rate adjustments; increase the supply of affordable housing and public rental housing. Education: Reduce off-campus tutoring costs (e.g., China’s "Double Reduction" policy) and promote balanced development of compulsory education. Healthcare: Expand basic medical insurance coverage (e.g., China’s basic medical insurance covers over 1.3 billion people) and improve the reimbursement ratio for major diseases to reduce "out-of-pocket" medical expenses. 5. Guide and Stimulate Consumption: Activate Market DemandIn addition to long-term policies, governments often use short-term incentives and public campaigns to boost immediate consumption:Issue consumption vouchers and subsidies: - Provide direct subsidies for specific goods/services (e.g., new energy vehicles, home appliances, tourism). For example: - China has offered subsidies for rural residents to replace old home appliances with energy-efficient ones since 2009, and extended subsidies for new energy vehicle purchases until 2023. - During the COVID-19 recovery, many countries (e.g., Japan, South Korea) issued digital consumption vouchers to stimulate spending on dining, retail, and tourism. Launch consumption promotion campaigns: - Organize national or regional "consumption festivals" (e.g., China’s "618" and "Double 11" online shopping festivals, the EU’s "European Consumer Day") to attract consumers with discounts and promotions. - Promote "green consumption" and "smart consumption": Subsidize energy-efficient products, promote recycling systems (e.g., trade-in programs for old cars/appliances), and encourage the use of smart devices (e.g., smart thermostats, IoT home systems). Encourage experiential and cultural consumption: - Support the development of cultural industries (e.g., museums, theaters, online streaming platforms) and subsidize tickets for low-income groups. - Promote domestic tourism: Waive entrance fees for scenic spots (e.g., China’s 5A-level scenic spots offering free entry during holidays) and subsidize tourism companies to launch affordable travel packages. 6. Address Structural Issues: Long-Term Drivers of ConsumptionTo ensure sustainable consumption growth, governments also tackle deep-seated structural challenges

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romote urbanization with a focus on "citizenization of migrant workers": Migrant workers (a large group in countries like China) often have lower consumption levels due to limited access to public services (e.g., education, healthcare) in cities. Policies to grant them urban hukou (household registration) and equal public services help release their consumption potential. Tap into the silver economy: As populations age (e.g., in Japan, China, and the EU), governments support the development of elderly-friendly products (e.g., assistive devices, health monitoring tools) and services (e.g., home care, senior tourism) to activate consumption among the elderly. Foster a "consumption-oriented" social mindset: Through public education, reduce the traditional emphasis on high savings (common in East Asian countries like China and Japan) and promote rational, quality-focused consumption. SummaryBoosting domestic consumption is a systematic project that requires coordination across fiscal, monetary, industrial, and social policies. Short-term measures (e.g., consumption vouchers) can quickly stimulate demand, while long-term efforts (e.g., income growth, infrastructure upgrading, and social security improvement) are essential to build a sustainable consumption-driven economy. The effectiveness of these steps depends on adapting to local economic conditions, consumer preferences, and global trends (e.g., digitalization, green转型).

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Steps taken to boost domestic consumption

Steps taken to boost domestic consumption

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