Luo Zhiheng, chief economist of Guangdong Development Securities and director of the Research Institute, said that boosting consumption is not only about residents' actions, but also the result of joint efforts by the government, enterprises, and residents. For the government, in order to create an environment that promotes better consumption by ordinary people as much as possible, it is necessary to reform the local government assessment system and fiscal and tax incentive system, not only to attract investment, but also to promote consumption; for enterprises, to better release residents' demand by providing higher quality products and services, it is necessary to liberalize market entry so that enterprises can compete healthily to create high-quality supply; and when residents have a good consumption environment and higher consumption capacity, the consumption rate of residents has naturally increased. Consumption is an end, an outcome, not a means.

Luo Zhiheng, chief economist of Guangdong Development Securities and director of the Research Institute, said that boosting consumption is not only about residents' actions, but also the result of joint efforts by the government, enterprises, and residents. For the government, in order to create an environment that promotes better consumption by ordinary people as much as possible, it is necessary to reform the local government assessment system and fiscal and tax incentive system, not only to attract investment, but also to promote consumption; for enterprises, to better release residents' demand by providing higher quality products and services, it is necessary to liberalize market entry so that enterprises can compete healthily to create high-quality supply; and when residents have a good consumption environment and higher consumption capacity, the consumption rate of residents has naturally increased. Consumption is an end, an outcome, not a means.