Chen Lifen: There will be three major structural changes in the upgrading of consumer spending in our country.

Chen Lifen, director of the Market Circulation Research Office of the Market Economy Research Institute of the Development Research Center of the State Council, stated that three major structural changes are currently taking place in China's residents' consumption. First, the shift from focusing mainly on goods to a balance of goods and services, with the proportion of service consumption expected to continue to increase in the future; second, the shift from seeking quantity satisfaction to emphasizing quality upgrades, with consumption gradually extending to areas such as healthy food, green smart home appliances, and development-oriented services; third, the shift from a single mode to diversified modes, leveraging the enabling capabilities of large-scale markets and digital technology to more accurately match the differentiated demands of different regions, age groups, and income groups on the supply side.