Zhang Junkuo, former Deputy Director of the National Development Research Center: Highlighting structural measures to unleash the consumption potential of residents.

Zhang Junkuo, chairman of the China Development Research Foundation and former deputy director of the Development Research Center of the State Council, said on Saturday at the 2025 Sanya Financial International Forum that to continuously and effectively release consumption potential, both short-term and long-term measures should be considered. He emphasized that in order to boost consumption, structural measures should be emphasized more. "In recent years, we have increasingly realized that the causes of insufficient demand are not only due to short-term market fluctuations, but also due to long-term and structural underlying reasons. These two factors not only overlap and intertwine, but also influence and reinforce each other, leading to a vicious cycle of shrinking demand, increasing job pressure, slowing income growth, weakening wealth effects, and further decreasing consumption capacity and confidence," he said. Zhang Junkuo emphasized that the response must involve both strong short-term stimulus policies to break the vicious cycle, as well as efforts to address underlying issues and solidify the foundation for stable economic growth.