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Experts advise expanding domestic demand in the second half of the year: increase residents' income and strengthen "investment in people"

On June 23, according to news from June 21, the China Macroeconomic Forum 2025 Mid-Term Forum was held in Beijing, where Wang Yiming, vice chairman of the China Center for International Economic Exchanges, stated that expanding domestic demand should focus on addressing the shortcomings in consumption. Currently, China's household consumption rate is relatively low compared to countries with similar income levels, and efforts are needed to correct this structural deviation. In terms of short-term policies, efforts should focus on increasing residents' income. Specifically, this means increasing the proportion of fiscal spending on public services and people's livelihoods, increasing the proportion of household consumption in total demand, and increasing the proportion of disposable income to national income. The current constraints on service consumption stem from entry restrictions and price controls in certain areas, resulting in a lack of differentiation in service supply, making it difficult to meet diverse demands. Additionally, when investment growth is fast, consumption often also grows rapidly. It is necessary to promote the linkage between consumption and investment. Since a significant rebound in consumption is unlikely in the short term, it is essential to better leverage the driving role of public investment in the short term. Wang Yiming further pointed out that it is also necessary to advance reforms in key areas. For example, promoting fiscal and tax system reform to enhance local governments' enthusiasm for expanding consumption and changing the behavior pattern of local governments that prioritize investment over consumption. $BTC $ETH #币安Alpha上新 #剥头皮策略 #加密市场回调