How Can the New Economic Stimulus Policy Incite China's Long-term Sustained Economic Growth?
China is currently in a critical period of advancing the building of a strong and prosperous country and national rejuve-nation in all respects through Chinese modernization.Faced with downward economic pressure domestically,the government has attached great importance to the issue and introduced a series of incremental policies aimed at stimulating economic growth.How-ever,after decades of implementing active fiscal policies with limited success in boosting overall demand,the question of where the new stimulus policy funds should be allocated has become urgent.Currently,the root cause of insufficient overall demand and weak internal circulation lies on the supply side,and the inadaptability of large-scale production mode to diversified demand leads to the inability to establish a virtuous cycle between supply and demand.The immediate priority is to direct the funds of the stimu-lus policy towards the modernization of rural spaces,addressing business difficulties of enterprises,providing employment,and stimulating domestic demand while resolving overcapacity.This would also create conditions for the transformation of enterprise production models.In the long term,it is essential to harness the power of the market to drive changes in enterprise production methods,build a digital industrial ecosystem with a domestic focus,and re-establish a virtuous cycle between supply and de-mand,thereby promoting sustained economic growth.
economic growthstimulus packagerural revitalizationmode of production
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