Jinan Times:

We have noted that since the beginning of this year, MOFCOM has introduced a series of policies and measures to expand consumption and improve people's livelihoods, unlocking the potential of the consumer market. What will be the key priorities for boosting consumption going forward? Thank you.

Yan Dong:

I will invite Ms. Yang to answer this question.

Yang Mu:

Thank you for your question. Since the beginning of this year, MOFCOM has implemented the decisions and plans of the CPC Central Committee and the State Council, pursued a dual-track approach combining policies and initiatives, deepened the special campaign to boost consumption, built the "Shopping in China" brand, and worked to invigorate spending. A series of policies and measures to promote consumption have continued to take effect. The consumer goods trade-in program has kept the consumer market on a firm footing, lifting the leverage ratio of funds invested from 1:7.8 last year to 1:10.3 now, driving more than 1.25 trillion yuan in sales and benefiting consumers 169 million times. It has supported steady consumption growth, promoted industrial upgrading and encouraged resource recycling. The invoice lottery pilot program has lifted consumers' willingness to spend. So far, 50 pilot cities have paid out 9.05 billion yuan, drawing more than 860 million entries and awarding 380 million prizes, a win rate of 44.5%. Invoices generated through the program have exceeded 360 billion yuan. The 2.0 version of China's departure tax refund policy has stimulated inbound consumption, and the number of departure tax refund stores now exceeds 15,000. In the first half of the year, the number of overseas visitors claiming refunds was up about 400% year on year. Policies such as cultivating and expanding the automotive aftermarket are also playing a positive role.

Last week, the State Council approved and issued a plan to expand consumption during the 15th Five-Year Plan period, which has drawn wide attention. It is the first five-year plan devoted to consumption and sets out the goals, tasks, and specific measures for expanding consumption during the 15th Five-Year Plan period. We will work with relevant departments to earnestly implement it. Mr. Yan has just covered service consumption, so let me introduce our plans for goods consumption and offline consumption.

On the one hand, we will promote the expansion and upgrading of goods consumption. Goods consumption is an important area for boosting spending and improving people's livelihoods. We will introduce relevant policies and measures to expand the scale of goods consumption and upgrade its structure, better meeting people's diverse and multi-tiered needs. The focus will be on four categories of goods. First, we will promote the consumption of big-ticket durable goods. We will promote car consumption across the entire chain and press ahead with pilot reforms in automobile distribution and consumption. We will also boost home furnishing purchases and expand package offers and customized services. Second, we will steadily improve the consumption of everyday necessities. We will work to elevate the quality of food, beverages, textiles, clothing and other daily consumer goods. Third, we will support the consumption of specialty products. Focusing on the needs of the elderly and the young, we will support consumption of products for seniors, infants and children and promote trendy domestic brands, high-quality export goods sold at home, and premium international products. Fourth, we will cultivate and expand the consumption of upgraded goods. To meet demand for consumption upgrading, we will promote the consumption of green, smart and health-related products.

On the other hand, we will take multiple measures to stimulate offline consumption. Boosting offline consumption is a key lever for smoothing the supply and demand cycle and revitalizing the market. We will focus on three key areas: First, we will enhance offline experiential activities for new products. We will support eligible regions in setting up offline sales venues that combine display and hands-on experience for emerging products such as smart home devices and smart robots, making cutting-edge technology more tangible and accessible. Second, we will focus on creating offline scenarios. We will organize pilot projects for new consumption formats, models and scenarios, and cultivate consumption scenarios that integrate commerce, tourism, culture, sports and health. We will draw on the leading role of international consumption center cities, deepen pilot projects to build an internationalized consumption environment, and create consumption scenarios with Chinese characteristics and cultural appeal. Third, we will focus on the development of traditional commerce. We will promote high-quality development in the retail sector and launch a batch of integrated, innovative business models. We will support the expansion and upgrading of "15-minute community life circles" to encourage offline spending close to home.

That's all from me. Thank you.

Jia Huili:

The last question, please.