Golden Ke Yang: It is suggested to include consumption in the assessment system of local governments, to reverse the inertia of "heavy investment, light consumption" development.

In order to boost consumption, Jin Keyu, a professor and economist at the Hong Kong University of Science and Technology, suggests the following: firstly, increase the share of labor income, such as wages tied to productivity; secondly, shift financial support from businesses to households; thirdly, invest in service industries that can create jobs for the middle class, such as healthcare, education, and logistics; fourthly, reform the tax and transfer payment system to benefit working-class families; fifthly, strengthen social security. In addition, Jin Keyu also suggests considering including the growth rates of consumption and wages in the assessment system for local governments, as this is a key institutional innovation to reverse the development inertia of "heavy production, light living" and "heavy investment, light consumption".