Abstract: Expanding domestic demand and boosting consumption are the major deployments to build a new development pattern with domestic circulation as the mainstay as well as domestic and international circulations mutually promoting each other. It is also a lasting driving force for promoting high-quality economic development in China. The Fourth Plenary Session of the 20th Central Committee of the Communist Party of China clearly stated that we must adhere to the strategic basis of expanding domestic demand and lead new supply with new demand and create new demand with new supply. The Central Economic Work Conference further emphasized the in-depth implementation of the special action to boost consumption, and focused on expanding the supply of high-quality goods and services. Under the guidance of this series of policies, activating the market potential from existing consumption is not only a pragmatic move that fits the national strategy, but also a key path of solving the current structural contradiction between supply and demand and steadily expanding and strengthening the domestic market.
