In the past few years, the role of external demand in stimulating economic growth has been significantly weakened. This year, superimposed on the inhibitory effect of Sino-US trade friction on exports, external demand is expected to continue its downward trend. At the same time, the growth rates of fixed asset investment and total retail sales of consumer goods have been decreasing year by year. At present, the uncertainty and uncontrollability of external demand have increased significantly. Therefore, to achieve the goal of stable growth, sustainable domestic demand expansion has become a top priority. Policy suggestions for sustainable domestic demand expansion include: firstly, guide and deploy investment around the development direction of mid- and high-end consumption demand, especially intensify investment in high-growth and anti-cyclical industries; secondly, reduce tax and non-tax burdens of enterprises, reduce business operation costs, and create a fair competition environment for private investment; thirdly, use transfer payments to increase the disposable income of residents, and strengthen general consumption growth; fourthly, vigorously implement the rural revitalization strategy, promote the upgrading of rural information, logistics and other infrastructure to promote the popularization of new consumption methods, increase market breadth, and expand domestic demand.
