Under the new circumstances of opening up a new journey of building a modern socialist country in an all-round way, China urgently needs to strengthen institutional innovation, base itself upon and give full play to the advantages of domestic ultra-large-scale market, constantly strengthen the internal driving force for economic growth, and accelerate the realization of high-quality economic development.Giving full play to the advantages of ultra-large-scale market is an important strategy to promote high-quality economic development. To promote high-quality economic development, we need to give full play to the fundamental role of consumption, give full play to the key role of investment and give full play to the role of domestic demand in driving innovation.From the reality of China, there are at least three factors that lead to the insufficient scale of effective demand, and then restrict the exertion of the advantages of ultra-large-scale market. That is, under the export-oriented economy, the level of consumption of domestic residents is insufficient; the income gap of domestic residents continues to expand; the market competitiveness of local goods is insufficient under the condition of opening-up.The key to giving full play to the advantages of ultra-large-scale market is to expand the scale of effective demand. Specific suggestions are as follows: through the system innovation and reform of income distribution and social security, we should cultivate the high-end consumer market. Through the institutional innovation and reform of public goods construction and industrial investment, we have to promote and optimize investment demand. Through the institutional innovation and reform to eliminate the domestic market segmentation, we should promote the development of domestic market integration.
