2019-08-05 13:48


Weekly Review: "Consumption Map" Contains China's Economic Resilience Code


[Beijing Direct News Network, August 5] (Southern Network)Data from the National Bureau of Statistics show that in the first half of this year, the per capita consumption expenditure of the whole country reached 10330 yuan, a nominal increase of 7.5% over the same period last year. The total retail sales of consumer goods nationwide reached 19.5 trillion yuan, an increase of 8.4% over the same period last year. Consumption contributed 60.1% to economic growth, and stimulated economic growth by 3.8 percentage points. Consumption remains an important driving force for stable economic growth.

Consumption is the "ballast stone" for the stable operation of China's economy and the "main engine" for the sustained promotion of China's economic growth. Recently, with the release of economic data in the first half of each province and city, a more detailed "consumption map" is presented to people: what are the characteristics of residents'consumption in different regions in the first half of the year? Where do residents spend the most money? Which provinces have the fastest growth in consumption? A "map" is in hand, and it is clear at a glance. For example, "Consumption Map" shows that in the first half of the year, the consumption market of the strong southeast coastal provinces was huge, while the consumption growth of the central and western regions was faster. The per capita consumption expenditure of Shanghai, Zhejiang, Guangdong, Jiangsu and Fujian all exceeded the national average level and ranked in the forefront of the country. The total retail sales of social consumer goods in Guangdong in the first half of this year reached 2068.041 billion yuan, an increase of 7.7% over the previous year, an increase of 0.8 percentage points over the previous quarter.

Attaching importance to consumption is not only to the "fundamentals" of the national economy, but also to the "fundamentals" of people's lives. Macroscopically speaking, consumption has been the strongest carriage driving economic growth for many years, and it is self-evident that it plays a fundamental role in economic development. From the microcosmic point of view, education and medical treatment are all consumption. In a sense, "Consumption Map" is an important barometer to observe China's consumer market. Each vivid number and rising curve on the map is more like a meticulous description of "meticulous brushwork", inadvertently highlighting the potential of consumption everywhere. However, when these data and curves are superimposed on each other, the release will inevitably be a "multiplier effect", which implies the "resilience code" of China's economy.

China has the most potential consumer market in the world, with nearly 1.4 billion people and the largest and most growing middle-income group in the world. In recent years, the contribution rate of consumption to economic growth has remained at 60% and 70%, and consumption has become the engine of economic growth. On September 20 last year, the CPC Central Committee and the State Council issued special opinions on stimulating residents'consumption potential. Starting with the upgrading of residents' consumption of food, clothing, housing and services, the CPC Central Committee and the State Council allowed the people to have money and dare to spend money, thus forming some new consumption growth points with strong driving force. In addition, a number of coastal provinces have also taken practical measures to consolidate consumption vitality. For example, in response to the prominent problem of restricting consumption, Guangdong has nine aspects and 29 specific measures to stabilize and improve consumption expectations, create a good consumption environment and promote the formation of a strong and unified market. Overview of the "consumption map" in the first half of the year, more and more provinces and municipalities'per capita consumption expenditure exceeded the national average level, more and more new forms of business emerged constantly, behind the bright consumption report card, the "big red envelope" of the policy of expanding domestic demand and promoting consumption played an effective role, and it was also a powerful force for the continuous improvement of people's living standards and quality. Prove. When people's "money bags" become more and more bulging, of course, they will "dare" to spend money and "wish" to consume.

From satisfying food and clothing to pursuing health, from traditional electrical appliances to artificial intelligence, from traditional consumption to emerging consumption, from commodity consumption to service consumption, consumption upgrading is responding to people's needs for a better life, and the basic role of consumption in economic development will become more prominent. In the first half of this year, China's economy remained stable and progressing, and its growth rate ranked first among the world's major economies, showing the enormous resilience, potential and room for manoeuvre of China's economy. With the steady progress of the national economy, stable employment and rapid income growth of urban and rural residents, further implementation of the national policies and measures of reducing taxes and fees by a large margin, expanding opening-up and improving the mechanism of promoting consumption system, the potential of residents'consumption will be further released, and the bottom of China's economic vessel will not move steadily and far in the international storm. Continuous enhancement.