The Central Economic Work Conference takes forming a strong domestic market as an important policy to guide this year’s economic work. This is not only an important measure to stabilize the current economic growth, but also an important strategic choice for maintaining long-term stable economic growth.Before the Spring Festival this year, the National Development and Reform Commission and other ten ministries issued the "Implementation Plan for Further Optimizing Supply to Promote the Balanced Growth of Consumption and Promoting the Formation of a Strong Domestic Market (2019)", and proposed 24 specific measures to promote the formation of a strong domestic market. These measures not only take into account short-term factors that lead to “fluctuations” in consumption, but also focus on the long-term mechanism that promotes the formation of a strong domestic market.The first is to release demand constraints.The second is to reduce the transaction cost of consumption.The third is to promote the growth and distribution of residents' disposable income to provide a useful basis for consumption expansion.The fourth is to organically integrate promoting the formation of a strong domestic market with the national strategy of building a moderately prosperous society in all respects.The fifth is to comply with the new trends in consumption and the needs of consumption upgrades.These measures take both short-term and long-term goals into consideration. They can not only ensure the steady growth of domestic consumption this year, but also help promote the formation of a strong domestic market, so that the consumption can better play the fundamental role in China's long-term economic growth and the main engine of domestic demand.
