Han Wenxiu: Expanding domestic demand to create new growth opportunities, strengthening the domestic circulation.

According to a report on the website, Han Wenxiu, deputy director of the State Council Finance Office in charge of daily work and director of the State Council Rural Affairs Office, published an article titled "Adhering to Stability and Progress, Enhancing Quality and Efficiency, Striving for a Good Start of the '15th Five-Year Plan'". The article states that 2026 is the year the '15th Five-Year Plan' begins, with many economic tasks and challenges ahead. It is necessary to adhere to stability and progress, enhance quality and efficiency, increase countercyclical and cross-cyclical adjustments, and improve the effectiveness of macroeconomic governance. It is important to continue implementing a more proactive fiscal policy, maintain necessary fiscal deficits, total debt size, and total expenditure, improve accuracy and effectiveness, and act in a timely and proactive manner. It is also important to continue implementing a moderately loose monetary policy, with promoting stable economic growth and reasonable price increases as important considerations, focus on facilitating the transmission mechanism of monetary policy, and maintaining the basic stability of the RMB exchange rate at a reasonable and balanced level. Enhancing consistency and effectiveness of macroeconomic policies, strengthening systematic thinking, enhancing coordination between fiscal and financial policies, reform measures and macroeconomic policies to ensure all policies move in the same direction and form a united effort. In the next step, it is important to focus on key areas and effectively implement the key tasks deployed at the Central Economic Work Conference. Expand new space for domestic demand growth, optimize and strengthen the domestic circulation. By 2025, domestic demand will contribute more than 2/3 to economic growth, with consumption contributing 52%. It is important to adhere to the dominance of domestic demand and develop a strong domestic market. Currently, China is shifting from a focus on goods consumption to a balance of goods and services consumption, adapting to changes in consumer structure, expanding the supply of high-quality goods and services, removing unreasonable restrictions in the consumption sector, and unleashing the potential of service consumption. There is still a lot of investment space in China for new urbanization, technological innovation, industrial innovation, and improving people's livelihoods. Focus on improving people's livelihoods and promote high-quality urban renewal. Effectively stimulate the vitality of private investment and stabilize investment to stop declining.