Ministry of Commerce: will implement targeted policies to further stimulate consumption development momentum and unleash the potential of consumption services.

Minister of Commerce Wang Wentao stated that looking ahead to the "14th Five-Year Plan", the fundamental long-term prospects of China's economy remain unchanged, with the characteristics of a large potential, strong resilience, and ample vitality in the consumer market remaining unchanged. As for your question about whether there will be any new stimulating policies in the "14th Five-Year Plan", I believe that we will build on the experiences and practices of the "13th Five-Year Plan" to transform some effective and popular policies in the Chinese market into regular and long-term policies. At the same time, in the "14th Five-Year Plan", we are facing a very severe and complex situation, with international circumstances being unstable and uncertain. We will propose new responsive policies according to the situation when needed, and as mentioned before, our toolbox is rich and we will be fully prepared. More importantly, we will introduce targeted measures to further stimulate the development momentum of commodity consumption, unleash the potential of service consumption, amplify the driving effect of new consumption, comprehensively expand domestic demand, and strengthen the domestic circulation.