Residents'Consumption Upgrading and Tax Policy Choices under the New'Dual Circulation'Development Pattern
The 20th Party Congress report clearly emphasizes the need to accelerate the construction of an inno-vative development pattern,with the national macro-cycle as the core and mutual promotion between the domestic and international dual-circulation cycles.Among these,consumption plays a crucial role as a key link and impor-tant engine in smoothing the economic cycle.The further implementation of the strategy to expand domestic demand will help establish a comprehensive domestic demand system,promote reasonable quantitative growth and qualita-tive improvement in Chinese residents'consumption,and provide continuous impetus for China's economic develop-ment.Taxation,as a vital tool of macroeconomic regulation,can be optimized and adjusted in a timely manner to better align with the changing trends in residents'consumption under the evolving"dual-circulation"development pattern,thereby facilitating consumption upgrading.In this context,this paper constructs a two-way fixed effects model to examine how taxation influences residents'consumption upgrading.It further explores the heterogeneity across different consumption structure groups and regions.Drawing on the Opinions on Promoting High-Quality Development of Service Consumption issued by the State Council and the relevant provisions of the Decision of the Third Plenary Session of the 20th Central Committee of the CPC on tax reform,this paper proposes tax policy reform recommendations.The goal is to enhance the role of taxation in promoting consumption quality and efficiency,driv-ing the transformation and upgrading of residents'consumption,and fostering high-quality consumption develop-ment.
new development paradigm featuring"dual circulation"residents'consumption upgradingtax policy
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