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Zhao Bo, an associate professor of economics in the National Development Research Institute of Peking University, pointed out that since the Third Plenary Session of the Eleventh Central Committee of the Communist Party of China, the proportion of China's household consumption in GDP has experienced a short-term rise and a continuous decline, and rebounded around 2009, and it is currently maintained at around 40%.Article source: Securities TimesThe relevant person in charge of the National Development and Reform Commission has said many times before that consumption is a function of income, and it is necessary to increase the income of urban and rural residents through multiple channels to promote consumption. In fact, the series of measures deployed by the Central Economic Work Conference are also important aspects that are generally called for by academic circles and industries. Zhang Bin, deputy director of the Institute of World Economics and Politics, Chinese Academy of Social Sciences, has repeatedly stressed that the essence of insufficient demand lies in the negative cycle between "expenditure-income-credit". Therefore, it is a vital measure to boost residents' consumer confidence from the income side.

Securities Times reporter Qin YanlingArticle source: Securities TimesSecurities Times reporter Qin Yanling

Only by improving the consumption level of the whole people can we promote economic development! ! ! Therefore, boosting consumption will be the top priority of economic work.Article source: Securities TimesSecurities Times reporter Qin Yanling