The Fourth Plenary Session of the 20th Central Committee of the Communist Party of China proposed that we should build a robust domestic market and accelerate the establishment of a new development pattern. We must adhere to the strategic foundation of expanding domestic demand, closely integrate the benefits of people's livelihood with the promotion of consumption and investment in both physical and human capital, lead new supply with new demand, create new demand with new supply, promote positive interactions between consumption and investment, supply and demand, and enhance the endogenous driving force and reliability of the domestic circulation. We must vigorously boost consumption, expand effective investment, and resolutely remove bottlenecks and obstacles that hinder the construction of a unified national market. This elevates the issue of building a robust domestic market to a new level, which is worthy of our careful study, understanding, resolute implementation, and execution.
To expand the market scale at this stage, we need to carry out mechanism reforms and policy adjustments in the following three aspects:
1. Continue to implement loose fiscal and monetary policies to restore the influence of economic cycle factors.
2. Thoroughly implement the micro-economic policies reform, treating it as a fundamental institutional innovation action that complements the macro-level expansion of domestic demand.
3. Deepen supply-side structural reform, resolve the structural incompatibility between supply and demand, and better meet the market demands.
