On March 30th, the National Development and Reform Commission released the "Chinese Residents' Consumption Development Report for 2017". The report first comprehensively reviewed the current situation of consumer development in China.
In recent years, China’s consumption has maintained steady and rapid growth, and has become a 'ballast room' for stable economic operations. In 2014, we promoted the implementation of the 'six major areas' in housing, green, information, tourism and leisure, educational and cultural sports, and pension and family management. Consumption Projects '. In 2016, we introduced the implementation of the 'ten largest consumption expansion campaigns' to promote the development of consumer industries such as tourism, culture, sports, health, pensions, education, training and other happy industries. This will add new impetus to economic and social development.
The report shows that the overall scale of China's resident consumption continues to expand. In 2017, the total retail sales of consumer goods reached 366,000 yuan, an increase of 10.2. From 2013 to 2017, the total retail sales of social consumer goods grew at an average annual rate of 11.3%, and the average annual increase in online retail sales was more than 30%. The per capita consumption expenditure of residents in the country was 18,322 yuan, an increase of 7.1%.
The basic role of consumption in economic development has been significantly enhanced. The ultimate contributor's contribution to economic growth in 2017 was 58.8%, which was higher than the total capital formation contribution rate of 26.7 percentage points. The consumption rate steadily increased, and the final consumer spending in 2017 reached 43.5 trillion yuan. Yuan, final consumer spending accounted for 53.6% of GDP, and has accounted for more than 50% for 6 consecutive years since 2012.
The pace of consumption upgrade was accelerated. In 2017, the national Engel's coefficient was 29.3%, and it entered the 20% to 30% rich area divided by the United Nations. The proportion of service consumption has been continuously expanding, education, culture and entertainment, and the proportion of health care expenditure to household consumption expenditure. It was 11.4% and 7.9%, 0.2% and 0.3% higher than the previous year. The sales of consumer upgrade products grew at a faster rate. Communication equipment, sports entertainment products and cosmetics products increased by 11.7%, 15.6% and 13.5% respectively.
Residents' spending power continued to increase. In 2017, the per capita disposable income of the country’s residents was 25,974 yuan, an increase of 7.3% in real terms, which was higher than the economic growth rate. The per capita disposable income of urban and rural residents increased by 6.5% and 7.3%, respectively, and rural residents’ income. The growth rate was faster than that of urban residents for 8 consecutive years.
The report pointed out that to do a good job in the next step to expand the resident's consumption, it is necessary to firmly establish a new development concept, closely follow changes in the main social contradictions in our country, and in accordance with the requirements of high-quality development, adhere to supply-side structural reform as the main line, and build a modern economic system. Innovate and improve the institutional mechanisms for promoting consumption to stimulate new vitality, increase supply of high-quality products and services to meet new demands, free up new space to improve the consumer environment and standardize the market order, and effectively increase the basic role of consumption in economic development, and constantly satisfy People's growing needs for a better life. There are mainly five measures:
The first is to deepen the reform of the 'distribution service' and promote the expansion of residential consumption. Support social forces to increase the supply of services such as medical care, pensions, education, culture, and sports. The second is to improve the consumer policy system and promote the expansion of residential consumption. Continue to promote '10 “Expanding consumption activities”, in the areas of information consumption, tourism consumption, and green consumption, will further nurture and expand new growth points. Third, improve the quality standard system and upgrade the level of products and services. Intensify the 'Three Goods' special action to further expand 'Three With the scope of implementation of the project, improve product and service levels. Fourth, strengthen credit, regulatory and other market systems, and create a good consumer market environment. Promote the sharing of credit information sharing, investigate and deal with various acts of infringement of consumer rights. Shortage of infrastructure in the consumer sector to enhance consumers' consumer experience. Strengthen the construction of commercial and trade distribution networks. Organize and implement major projects of 'Internet+', promote big data, cloud computing, and extensive use of the Internet of Things.