At the China Development Forum 2026 annual session held from March 22 to 23, Wang Huiyao, founder and chairman of the Center for China and Globalization (CCG), stated in an interview with SINA Corp that previous consumption stimulus measures, such as trade-in programs and appliance replacement policies, have yielded positive results. He further emphasized significant potential remains to enhance the purchasing power of rural populations, particularly among the 300 million migrant workers. By enabling the circulation, transaction, or transfer of their rural homestead land and granting them property rights, their confidence and capacity to consume in urban areas can be strengthened, thereby promoting the prosperity of the overall consumer market.
Wang Huiyao also indicated that the key to boosting rural consumption lies in promoting the transfer of rural homestead land, which represents the most substantial opportunity and a critical direction for infrastructure development. Through homestead land transfers, migrant workers can purchase second-hand homes in cities, achieving an upgrade in their consumption patterns. This process is also conducive to China's urbanization and the sustained prosperity of the real estate market.
Additionally, he suggested that the real estate sector can prepare for rural development by, for example, allowing urban residents to purchase properties in rural areas and participate in building beautiful countryside communities. This approach would not only elevate consumption levels in rural towns but also facilitate the free flow of resources between urban and rural areas, creating additional value.
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