Expanding consumption is not accomplished overnight, and continuously enhancing consumption power is the key. We will do everything possible to increase employment, increase people's income through various channels and effectively increase people's spending power. This is of great significance to consolidating the foundation for economic recovery and development and promoting sustained and overall improvement in economic performance.

At present, how to promote the sustained recovery of consumption is still a hot topic of concern. The most fundamental and direct measure to boost consumption is to boost employment, increase incomes and stabilize expectations. We will do everything possible to increase employment, increase people's income through various channels and effectively increase people's spending power. This is of great significance to consolidating the foundation for economic recovery and development and promoting sustained and overall improvement in economic performance.

The economic situation in the first quarter of this year shows that domestic demand has gradually expanded, production and supply have recovered at a faster pace, and social expectations have improved markedly. Consumer demand, in particular, is recovering rapidly. In terms of economic data, the total retail sales of consumer goods increased by 5.8% in the first quarter, 10.6% in March, and 18.4% in April, compared with a 2.7% decline in the fourth quarter of last year. The total retail sales of consumer goods in the first quarter turned from a decline to an increase.

However, we should also see that the expansion of consumption is not achieved overnight, and the key is to continue to enhance the power of consumption. Despite the rapid recovery in consumption, the surveyed urban unemployment rate remained at 5.5% in the first quarter, unchanged from December last year.

In the next stage, we should make stabilizing and expanding employment our top priority in increasing income and boosting consumption. We should take a combination of measures to support business startups, create more jobs and improve social security. We should strive to create stable expectations, fundamentally boost consumer confidence and create lasting driving forces for expanding consumption.

First, we need to develop the economy to create jobs and increase consumption power. Ultimately, employment and income growth depends on development. Vigorously promoting economic development is the fundamental way to increase employment and income. We should vigorously develop industries, especially the unique advantages of modern service industries in attracting employment, expand the breadth and depth of development of the service industry, increase effective supply, and expand employment in the service industry. Some labor-intensive industries should be developed appropriately in areas and fields where conditions are suitable.

We will also give full play to the role of the private sector as the main channel for employment. Statistics from the All-China Federation of Industry and Commerce show that the private sector accounts for more than 80 percent of urban employment, and many of the newly created jobs come from private enterprises. Therefore, unswervingly support the development of private economy, encourage private enterprises to absorb employment, has become an important choice. We will foster a new type of friendly and clean relationship between government and business, foster a business environment featuring fair competition, convenience and efficiency, openness and inclusiveness, and stable policies. At the same time, we will do everything we can to reduce enterprise costs, ensure that private enterprises can develop in a safe and stable way, create a virtuous cycle in which enterprise development and job creation reinforce each other, and strengthen the foundation for boosting consumption.

Second, encourage young people to start businesses to increase income and stabilize their income expectations. We should fully mobilize the enthusiasm of young people and guide them to enter the market and start businesses to increase their income, which can effectively relieve the pressure on employment, stabilize their income expectations and boost their consumption vitality. It is necessary to further improve innovation and entrepreneurship parks, incubation bases, mass innovation Spaces and other innovation and entrepreneurship carriers for young people, increase services for start-ups, lower the threshold for innovation and entrepreneurship, and strengthen support for finance, taxation and other aspects, so as to provide a stable environment for young people to innovate and start businesses, so that they can be secure, secure in their work and secure in their consumption.

Third, speed up the improvement of social security and enhance consumer confidence. Social security is the "stabilizer", "safety net" and "regulating valve" of the society. Only with a solid social security foundation can we effectively solve the worry of consumption, so that residents can dare to consume and consume at ease. At present, we need to adhere to the bottom-line principle, secure the social insurance net, advance the integration and coordination of social insurance, social assistance, and social welfare, and build a more equitable and sustainable social security system with full coverage, basic benefits, and multiple levels at a higher level. We will thoroughly implement the universal insurance scheme, consolidate and expand the coverage of social insurance, and ensure that all people are covered by the system and the actual population, so that everyone can enjoy basic livelihood, education, medical care, elderly care, and housing security.