Shanxi expands consumption to stabilize economic growth

(goshanxi.com.cn)

This year's government work report emphasized the need to vigorously boost consumption, enhance investment efficiency, and comprehensively expand domestic demand, making domestic demand the primary driver of economic growth.

In response, North China's Shanxi province is expanding its cultural and tourism consumption. "Shanxi's cultural and tourism industry has immense potential and a promising future. We should develop this industry into a strategic pillar industry and a sector for improving people's wellbeing," suggested Chen Xiaoshuan, a deputy to the National People's Congress (NPC) and chairman of Shanxi House of the Huangcheng Chancellor Group.

Expanding domestic demand involves stimulating potential consumption and increasing effective investment. Fan Yinlian, an NPC deputy and quality control officer at Shanxi Gaotao Ceramics Co, emphasized the need to improve long-term mechanisms for private enterprises to participate in major projects and to enhance mechanisms that stimulate social capital investment.

"The government work report repeatedly promises strong support for the private economy, which undoubtedly serves as a powerful boost, enhancing our confidence and providing momentum for high-quality development of private enterprises," said Fan.

Expanding domestic demand and boosting consumption also require robust platforms. Shanxi is dedicated to creating platforms that support industrial transformation and business clustering. The revenue of the province's 16 industrial chains and 18 specialized towns increased by 16.2 percent and 13.9 percent, respectively.

At this year's two sessions, Hao Chisheng, an NPC deputy and Shanxi Xinghuacun Fenjiu Distillery Co employee, suggested promoting the innovative development of time-honored brands. "We need to build a 'Chinese Time-honored Brand+' modern development platform to promote cooperation and exchange between these brands and various fields and industries," said Hao.