National Development and Reform Commission: Further increase central investment support and reduce local funding pressure.

The National Development and Reform Commission held a press conference today, and the spokesperson stated that China has huge potential for domestic demand growth and the investment structure continues to be optimized. The next step is to strengthen the internal cycle, optimize the external cycle, and promote a dual-cycle development strategy. The spokesperson, Li Chao, introduced that in terms of consumption, efforts will be made to boost consumer confidence, stimulate market vitality, launch large-scale vocational skill improvement training actions, and improve the mechanism for adjusting the minimum wage standards. The policy of replacing old consumer goods with new ones will be implemented smoothly and orderly, with a focus on policy continuity. In terms of investment, efforts will be made to explore potential growth points and expand investment incrementally. In terms of government investment, the focus will be on planning and reserving key projects required for development, capable of being implemented by local authorities, and desired by the people, particularly in the areas of livelihood projects. Further research will be conducted to increase central government investment support for these projects, to alleviate local funding pressures.