Ning Jizhao, deputy director of the National Development and Reform Commission and director of the National Statistical Bureau, responded to the question about the formation of a strong domestic market, saying that we should promote the upgrading of consumption and actively promote the replacement of old and new automobiles, household appliances and electronic consumer goods. To break down the restrictions on automobile consumption, Guangzhou, Shenzhen and other cities have relaxed or cancelled the restrictions on purchase. Cities such as Xian, Kunming and Guiyang are also considering the restrictions, and some qualified areas will follow up.
Ningji Zhe said that positive and effective measures must be taken to strengthen the six stability work, stabilize investment, promote consumption, expand employment, increase income, and realize a virtuous circle of the national economy. This requires four efforts:
First, we should focus on expanding effective investment. This is an important measure to promote the six stability work and keep the economy running smoothly. We should promote this years intrabudgetary investment, other government investment, enterprise and private investment, and local special bonds to accelerate the use of shortcomings, restructuring and expanding domestic demand. New quotas for next years special bonds should be issued in advance, focusing on transportation, energy, ecological and environmental protection, peoples livelihood services, logistics, municipal, Industrial Park infrastructure and other projects to ensure early results. We should appropriately reduce the minimum capital ratio of infrastructure and other projects to better support effective investment. More measures should be taken to stimulate the vitality of non-governmental investment and give full play to the role of non-governmental investment, which accounts for more than 60% of the total investment. We should also speed up the pace and progress of project construction, strengthen the project reserve work, form a batch of start-up, construction, reserve, three wheels to rotate together, and rationally expand effective investment.
Second, we should strive to promote the quality and expansion of consumption. This is an effective measure to boost the economy and improve peoples livelihood. We should promote the upgrading of consumption and actively promote the replacement of old and new automobiles, household appliances and electronic consumer goods. To break down the restrictions on automobile consumption, Guangzhou, Shenzhen and other cities have relaxed or cancelled the restrictions on purchase. Cities such as Xian, Kunming and Guiyang are also considering the restrictions, and some qualified areas will follow up. We should encourage green consumption and support residents to buy energy-saving household appliances. We should support service consumption, introduce policies and measures such as providing for the aged, household services and infant care services, and further stimulate the potential of service consumption.
Third, efforts should be made to make up for the shortcomings of regional development in urban and rural areas. This is an important measure to resolve imbalances and insufficient development contradictions and release market potential. To tap the development potential of the four major plates, the so-called four plates are the development of the west, the revitalization of the northeast, the rise of the central part and the first in the east. To give full play to the effects of the five new growth poles, we should further promote the coordinated development of Beijing, Tianjin and Hebei, the development of the Yangtze River Economic Belt, the construction of the Great Bay Area of Guangdong, Hong Kong, Macao and the integration of the Yangtze River Delta, and so on. We should also accelerate the promotion of the ecological protection and high-quality development strategy of the Yellow River Basin, and take the lead through planning. The implementation of the project will further release the huge potential market. We should also vigorously promote urban reconstruction, including the transformation of old urban residential areas, and support the construction of facilities concerned by the masses such as urban parking lots. We should actively promote the improvement and construction of rural human settlements and accelerate the completion of rural infrastructure and public services.
Fourth, we should focus on promoting industrial upgrading, which is a positive measure to adjust the structure and promote development. New infrastructure such as 5G and AI should be improved to further promote the development of strategic emerging industrial clusters. It is necessary to strengthen the technological transformation in the key areas of traditional manufacturing industry, including vigorously promoting the construction of traditional manufacturing information network, digital transformation, intelligent upgrading, and green transformation of energy conservation, environmental protection, circular economy and so on. We should actively promote the integration and development of manufacturing and production-oriented services.