Optimizing Consumption Structure to Boost Domestic Demand: Theoretical Logic, Practical Basis, and Implementation Pathways

Abstract

Implementing the strategy of expanding domestic demand is an inevitable choice for accelerating the formation of a new development paradigm, while optimizing the consumption structure serves as a crucial pathway to expanding domestic demand. Its strategic value has become increasingly prominent in driving economic structural transformation and achieving high-quality development. This paper focuses on analyzing the theoretical logic, practical basis, and implementation pathways through which the optimization of consumption structure contributes to expanding domestic demand. There are three findings. Firstly, the theoretical logic by which the optimization of consumption structure aids in expanding domestic demand lies in the upgrading of demand hierarchies, linkages with industrial structure, and innovation-driven development. Secondly, the practical basis for optimizing the consumption structure to support the expansion of domestic demand includes sustained growth in household incomes, a continuously increasing share of service consumption, ongoing release of demand for upgraded consumer goods, and the synchronization of urban and rural consumption structures. Thirdly, the implementation pathways for optimizing the consumption structure to help expand domestic demand involve enhancing residents ’ consumption capacity and confidence, meeting and creating new demand through innovation, improving institutional safeguards and optimizing the consumption ecosystem, and seeking breakthroughs in key areas while fostering new engines for driving consumption growth. This paper not only provides policy suggestions for expanding consumption demand and improving economic quality and efficiency, but also offers important references for enhancing people’s well- being.

Keywords

optimization of consumption structure / boosting consumption / expanding domestic demand

RIGHTS & PERMISSIONS

Higher Education Press