Forming a Virtuous Cycle of Mutually Promoting Consumption and Investment:Theoretical Logic and Practical Paths
Over the past decades,China's economy growth has been driven mainly by investment and exports,but the current investment in real estate and transportation infrastructure is already limited,and the share of capital formation in GDP in regions with a higher level of economic development has been decreasing year by year.At the same time,China's overall consumption level is relatively low but tends to be not low,the proportion of service consumption is increasingly close to that of commodity consumption,niche consumption enhancement still has greater potential,the tendency of the consumer market sinking is more obvious.Promoting the formation of a virtuous cycle of mutual promotion of consumption and investment is both a great challenge and a historic opportunity in the new development stage.In Marxist theory,investment and consumption are the organic unity of social reproduction;from the perspective of economic theory,consumption and investment are never cut off.Based on the fact of the characteristics of investment and consumption in China and the theoretical logic of mutual promotion of investment and consumption,the virtuous circle of mutual promotion of investment and consumption should have the following characteristics:efficient investment plays a key role and consumption plays a fundamental role;consumption and investment are complementary to each other;meeting the people's aspirations for a better life is the goal of the formation of the virtuous circle of consumption and investment;the development of new productive forces is the cornerstone of the realization of the virtuous circle of consumption and investment.The development of new productive forces is the cornerstone of realizing the virtuous circle of consumption and investment.Therefore,we should take a dialectical view of the relationship between investment and consumption,take the transformation of consumption as the starting point for expanding investment,and focus on the promotion of income,agglomeration,building carriers,optimizing supply,improving people's livelihoods and other perspectives,so as to promote the formation of a virtuous circle of consumption and investment that promotes each other.
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