Household Consumption Trends in China（在中国家庭消费的趋势）.pdfVIP

Household Consumption Trends in China Mark Baker and David Orsmond* Despite strong growth in Chinese consumption, the household consumption ratio has fallen significantly. this reflects a fall in the share of national income that accrues to the household sector and a rise in the household saving ratio. Policies to encourage the growth of small and medium-sized entities, increase social spending, and reduce the focus on investment-led growth would be expected to support the level of household consumption over the medium term. Introduction other countries, with China’s real annual household consumption growth on average 3 percentage Compared with other countries, household points higher than other emerging economies in consumption expenditure in China has grown at a Asia and 6 percentage points higher than in the strong pace for an extended period. Nonetheless, the G7 advanced countries (Graph 1). share of household consumption in total expenditure in the Chinese economy has declined, as the growth Despite this strong growth, the share of household in investment spending and exports has been even consumption in China’s total expenditure has more rapid than that of consumption, especially in declined. For many years this trend was fairly the 2000s decade. This article outlines these trends gradual, with the household consumption ratio and the