Economic Daily: Focus on the overall situation to strengthen the domestic large circulation.

The article states that from the perspective of demand, facilitating the employment, income, and consumption cycle is key. Employment is the foundation of people's livelihoods, income is the premise of consumption, and the higher the income, the more stable the expectations, and the more capacity for consumption. To stimulate potential consumption, in addition to systematically removing unreasonable restrictions that hinder consumption and vigorously implementing policies to encourage trading in old goods for new ones, it is more important to prioritize solving the issues of employment and income for the people, improve social security, and make people truly willing and able to consume. By breaking the "small cycle", we can embrace the larger market. The realization of the domestic circulation cannot be achieved without a highly efficient, standardized, fair competition, and fully open national unified large market. In recent years, some regions have been obsessed with projects related to artificial intelligence, computing power, new energy vehicles, etc., continuously repeating construction projects, blindly following trends, ignoring the overall situation of the country, and exacerbating the "internal competition" phenomenon. This requires further regulation of investment attraction activities, encouraging regions to seek development through differentiated competition, in order to provide a solid foundation for strengthening the domestic circulation. Looking globally, major developed countries generally have large-scale domestic demand markets, with final consumption rates remaining around 80%. In comparison, there is still room for improvement in China. In the future, the characteristics of the domestic market dominating the national economic cycle will become more prominent. In order to continue to expand and strengthen the domestic circulation, it is necessary to focus on expanding domestic demand without relaxing, make every effort to expand consumer spending and effective investment, mobilize all sectors actively, coordinate policies in the same direction, form a combined force, better drive and lead both domestic and international cycles, and open up a new era of high-quality development.