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CN NDRC: Persist in Expanding Domestic Demand as Strategic Focus
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Zheng Zhajie, Director of the National Development and Reform Commission (NDRC) of China, published an article titled “Persist in Expanding Domestic Demand as a Strategic Focus” in the People's Daily. During the “15th Five-Year Plan” period, expanding domestic demand faces new situations and requirements: (1) Expanding domestic demand is a strategic measure to effectively respond to external shocks. It is necessary to steadfastly implement the strategy of expanding domestic demand to counterbalance the uncertainties of external demand with stable domestic development, accelerate high-level technological self-reliance, and promote deep integration of technological and industrial innovation to create new demand through new supply. (2) Expanding domestic demand is a key focus for strengthening the domestic circulation. The strategy must be adamantly implemented to improve the quality and efficiency of economic circulation, promoting more economic development models driven by domestic demand, consumption, and endogenous growth, relying more on the domestic market for production, distribution, circulation, and consumption, achieving mutual promotion and upgrading of supply and demand cycles. (3) Expanding domestic demand is a necessary requirement to meet people's needs for a better life. To satisfy the growing needs for a better life and continuously improve people's quality of life, the strategy of expanding domestic demand must be firmly implemented, strengthening foundations, leveraging advantages, addressing shortcomings, and enhancing weaknesses, increasing high-quality supply through effective investment to meet the evolving consumption needs of residents. AASTOCKS Financial News Website: www.aastocks.com |
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