"Qiushi" magazine published General Secretary Xi Jinping's important article
"Expanding Domestic Demand is a Strategic Move"
新华社北京12月15日电 12月16日出版的第24期《求是》杂志将发表中共中央总书记、国家主席、中央军委主席习近平的重要文章《扩大内需是战略之举》。这是习近平总书记2015年10月至2025年10月期间有关重要论述的节录。
Xinhua News Agency, Beijing, December 15 — The 24th issue of QIUSHI (Seeking Truth) magazine, to be published on December 16, will feature an important article by Xi Jinping, General Secretary of the CPC Central Committee, President of the People's Republic of China, and Chairman of the Central Military Commission, titled "Expanding Domestic Demand Is a Strategic Move." This article compiles excerpts from General Secretary Xi Jinping's key statements on the subject from October 2015 to October 2025.
文章指出，扩大内需既关系经济稳定，也关系经济安全，不是权宜之计，而是战略之举。实施扩大内需战略，是保持我国经济长期持续健康发展的需要，也是满足人民日益增长的美好生活的需要。要加快补上内需特别是消费短板，使内需成为拉动经济增长的主动力和稳定锚。
The article points out that expanding domestic demand is crucial not only for economic stability but also for economic security. It is not a temporary measure but a strategic initiative. Implementing the strategy of expanding domestic demand is essential for maintaining the long-term, sustained, and healthy development of China's economy, as well as for meeting the people's growing aspirations for a better life. We must accelerate efforts to address shortcomings in domestic demand, particularly in consumption, so that domestic demand becomes the primary driver and stabilizing anchor for economic growth.
文章强调，大国经济的优势就是内部可循环。要牢牢把握扩大内需这一战略基点，使生产、分配、流通、消费各环节更多依托国内市场实现良性循环。扩大内需和扩大开放并不矛盾。国内循环越顺畅，越能形成对全球资源要素的引力场，越有利于构建以国内大循环为主体、国内国际双循环相互促进的新发展格局，越有利于形成参与国际竞争和合作新优势。要把扩大内需战略同深化供给侧结构性改革有机结合起来，供需两端同时发力、协调配合，形成需求牵引供给、供给创造需求的更高水平动态平衡。
The article emphasizes that the strength of a major economy lies in its internal circulation. We must firmly grasp the strategic focus of expanding domestic demand, enabling production, distribution, circulation, and consumption to rely more on the domestic market to achieve a virtuous cycle.Expanding domestic demand and opening up further are not mutually exclusive. The smoother the domestic circulation, the stronger the gravitational pull it exerts on global resources and factors of production. This facilitates the formation of a new development paradigm centered on the domestic cycle while promoting mutual reinforcement between domestic and international cycles, and enhances new advantages in international competition and cooperation. The strategy of expanding domestic demand must be organically integrated with deepening supply-side structural reforms, exerting coordinated efforts on both the supply and demand sides to achieve a higher level of dynamic equilibrium where demand drives supply and supply creates demand.
文章指出，总需求不足是当前经济运行面临的突出矛盾。要坚决贯彻落实扩大内需战略规划纲要，尽快形成完整内需体系，着力扩大有收入支撑的消费需求、有合理回报的投资需求、有本金和债务约束的金融需求。消费是我国经济增长的重要引擎，扩大消费最根本的是促进就业，完善社保，优化收入分配结构，扩大中等收入群体，扎实推进共同富裕。要建立和完善扩大居民消费的长效机制，使居民有稳定收入能消费、没有后顾之忧敢消费、消费环境优获得感强愿消费。要完善扩大投资机制，拓展有效投资空间，适度超前部署新型基础设施建设，扩大高技术产业和战略性新兴产业投资，持续激发民间投资活力。要继续深化供给侧结构性改革，持续推动科技创新、制度创新，突破供给约束堵点、卡点、脆弱点，增强产业链供应链的竞争力和安全性，以自主可控、高质量的供给适应满足现有需求，创造引领新的需求。要坚持惠民生和促消费、投资于物和投资于人紧密结合，坚决破除阻碍全国统一大市场建设卡点堵点。
The article points out that insufficient aggregate demand is the prominent contradiction currently facing economic operations. We must resolutely implement the strategic plan for expanding domestic demand, expedite the formation of a comprehensive domestic demand system, and focus on expanding consumption demand supported by income, investment demand with reasonable returns, and financial demand subject to principal and debt constraints. Consumption is a key engine of China's economic growth. Expanding consumption fundamentally requires promoting employment, improving social security, optimizing income distribution structures, expanding the middle-income group, and steadily advancing common prosperity.We must establish and improve long-term mechanisms to expand household consumption, ensuring residents have stable incomes to consume, no worries to consume with confidence, and a favorable consumption environment to consume willingly. We should refine mechanisms to expand investment, broaden space for effective investment, appropriately advance the deployment of new infrastructure, increase investment in high-tech industries and strategic emerging sectors, and continuously stimulate private investment vitality.We must continue deepening supply-side structural reform, persistently driving technological and institutional innovation to overcome bottlenecks, blockages, and vulnerabilities in supply constraints. This will enhance the competitiveness and security of industrial and supply chains, enabling self-reliant, high-quality supply to meet existing demand and create new demand. We must closely integrate improving people's livelihoods with boosting consumption, and balancing investment in physical assets with investment in human capital. We must resolutely eliminate obstacles hindering the development of a unified national market.
