Yuan Da, from the National Development and Reform Commission, stated that to expand domestic demand, it is necessary to adhere to the principle of "three combining" strategies.
On the afternoon of March 7, Yuan Da, the Secretary-General of the National Development and Reform Commission, stated at a press briefing at the State Council Information Office that expanding domestic demand, adhering to the "three combinations", and continuously consolidating and enhancing the advantages of the ultra-large-scale market. The first combination is to adhere to the combination of stock and increment policies, deepen the implementation of the consumption promotion action, and improve the effectiveness of increment policies such as the "two doubles" and "two new" policies, and new policy-based financial tools. At the same time, accelerate the implementation of comprehensive policies such as fiscal and financial coordination to expand domestic demand, and leverage the combined effect of policies. The second combination is to closely link benefiting people's livelihoods and promoting consumption, formulate and implement plans to increase urban and rural residents' income, steadily increase the minimum wage standards, and increase government funds for ensuring people's livelihoods. At the same time, promote the expansion and upgrade of commodity consumption, and release the potential of service consumption. The third combination is to closely link investment in people with investment in objects, optimize government investment structure, increase the proportion of government investment in people's livelihoods, stimulate private investment vitality, promote the opening of emerging areas to private enterprises, and ensure equal protection of factor demands.
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