Foreign Media Said China's Desire For Consumption After The 1980S Is A Strong Saviour Of The World Economy.

Under the depression of the world economy, the new generation of Chinese youth, whose total number is over 200 million, including the new generation of migrant workers and urban white-collar workers, is regarded by the foreign media as the "world economy" because of their strong desire for consumption.

Jin Qipeng, a 25 year old migrant worker from a rural area in Jiangxi, who has just received more than 3000 yuan of salary, has changed to a 1000 yuan mobile phone. He needs to work overtime for dozens of hours to get these wages. But Kim Chi Peng is not stint. Even after the new mobile phone was replaced, there was little left behind in rent and daily life after Dongguan changed the phone.

"Even if I don't buy a new cell phone, my monthly salary will be spent in other ways, such as singing K online, and so on.

When Jin Qipeng, who was 17 years old, came out to work, he went to a number of factories, and his wages went up to this level. He didn't have much money and didn't get married.

Jin Qipeng is just a microcosm of the 100 million generation of migrant workers. The total number of young people from the rural areas to the cities in the 1980s and post-90s is about 140 million, accounting for more than 60% of the migrant workers.

"Although the wage level of migrant workers is relatively low, the total scale is very large, and it is also a huge income and potential consumption expenditure.

Because this group has greater elasticity of consumption income, or higher margin.

Cai Fang, director of the Institute of population and labor economics of the Chinese Academy of Social Sciences, made the above analysis to our newspaper.

In fact, recent surveys also show the potential explosion of this huge consumer group.

A survey of 7 provinces in the school of public administration, Zhejiang University, shows that the consumption pattern of the new generation of migrant workers is avant-garde, which has a strong desire for high-end and fashionable goods and a significant increase in leisure consumption.

The survey found that nearly 100% of the new generation of migrant workers own mobile phones, and many have their own personal computers.

According to a survey by the Shandong Provincial Department of human resources and social security, the average consumption tendency of the new generation of migrant workers in Shandong province has been increasing continuously, and the proportion of returned income has dropped significantly.

"In 2010, the average generation of migrant workers returned to 5732 yuan, accounting for 36.8% of the total income of migrant workers, while the average generation of migrant workers returned to 8864 yuan, accounting for 57.3% of the total income of migrant workers."

"The consumption pattern of the new generation of migrant workers is really different."

Wei Weixin, vice president of the Guangzhou Development Research Institute of Guangzhou University, said that the old generation of migrant workers were mostly frugal, and they would save their hard-earned money for their family necessities and housing, industry and other real estate inputs. The income of the new generation of migrant workers was mainly for their own consumption, and they could only enjoy the modern lifestyle.

"The consumption of new generation of migrant workers and the consumption of fashion products are heating up, and their special consumption demand for consumption, such as mobile phones, Internet access and MP3, has been increasing."

Wei Wei said.

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Taking mobile phone communication fees as an example, the annual survey data of the labor research and service center of Zhongshan University showed that the monthly cost of communication for migrant workers increased from 63 yuan in 2008 to 91.54 yuan in 2010, an increase of 45%, while the monthly wage increase for migrant workers in the same period was only 20%.

Not only mobile phones and related consumption are rising, but also other consumer spending.

In 2010, the monthly expenditure on daily necessities (including cosmetics) for migrant workers increased by 46% compared with 2006, while spending on clothing and cultural entertainment increased by 43% during the same period, all of which indicated their increase in consumption desire.

Wei Weixin believes that migrant workers are a very large consumer group. In some cities, they even even exceed the total consumption of the indigenous population. This means that the consumption of the original city will change from quantity to quality.

Cai also believes that the pformation of migrant workers into new citizens will rapidly grow into Chinese consumption giants. "This will inevitably have an immeasurable impact on the pformation of China's economic growth mode and global economic rebalancing."

The consumer group who grew up earlier than the new generation of migrant workers is urban white-collar workers.

Today, this group is still growing vigorously and has a strong desire to buy.

"The monthly salary is only 6000, sometimes it will buy a more than 5000 bag."

Yang Yi, a 25 year old girl from Henan, told reporters that she liked such luxuries. "When I went to France last time, I thought I should buy one."

In 2008, Yang Yi, a university graduate, came to work in Beijing, and became a de facto "moonlight clan" after standing firm in an enterprise. "Sometimes I prefer to spend less money in other areas, but like bags and cosmetics."

Yang Yi's boyfriend Li Jiang also works in an enterprise. He spent 100 thousand yuan on his monthly income of 7000 yuan to buy a car last year. The huge expenditure was completed with the support of his family. He thought he bought a car not for the sake of face, but more for future development and accumulation of connections.

He showed reporters a bill: 1500 yuan a month, $800 for friends, $800 for driving and parking, and $300 for phone calls.

This moonlight clan used their own personal experience to promote advertising propaganda, "rent others' houses to drive their own cars", and their consumption patterns are the portrayal of some young people's lives in China nowadays.

A survey of domestic automobile websites shows that "after 80" is becoming a new force in the automobile consumption market.

About half of China's "post-90s" and "post-80s" have bought cars or planned to buy cars before the age of 30. Compared to half of them, 70 of them buy cars or plan to buy cars between 31 and 35 years old, and the age of 60 cars is even more than before the age of 41~45.

Investigation and analysis pointed out that the "post-80s" did not have a "60 after" conservative, no "after 70" stubbornness, their consumption outlook is more advanced and more receptive.

Like the automobile industry, there are more and more young people in the luxury industry.

Chen Deming, Minister of commerce at the 2011 China Development Summit, pointed out that China's luxury goods imports ranked second in the world. This is not only related to the improvement of people's living standard and income, but also the sales of luxury goods by the new consumer groups composed of 80 and 90.

The official blue book, which is released by the World Luxury Association, proves this. Ouyang Kun, China's chief representative, said that the trend of luxury consumption is getting younger and younger, and this group is expanding gradually.

"Luxury has become an indispensable fashion symbol for them, just like giving cigarettes and alcohol to new year's gifts."

Ouyang Kun said, unlike foreign independent luxury consumption patterns, luxury consumption in China is usually family based repetitive consumption. "Some young people do not consider whether there is income or not, and the consumption power of their parents represents the consumption power of their children."

Yuan Yue, chairman of the zero group, believes that most young people will spend more money than the previous generation, and will consume more rationally. "It is their new consumption consciousness that has started the Chinese consumer market."

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The new generation of Chinese youth, including the new generation of migrant workers and urban white-collar workers, is increasingly attracting the attention of the world. They have a total of over 200 million people - almost two times the total population of Japan - and have a strong consumption impulse.

In the face of the recession of the world economy, some foreign media reported that "international brands regard Chinese young people as saviours" and "Chinese tourists become the saviours of luxury goods industry".

It is reported that under the impact of the financial crisis, China's exports and investment have declined sharply, and the purchasing power of young people has supported China's economy.

"From the urban white-collar workers to the new generation of migrant workers, their consumption patterns drive the development of the economy, and the consumption of young people will affect the world economy."

The latest report of the times of the United States even put forward the hypothesis: will the younger generation of China become the Savior of the world economy?

Lu Hua commissar, chief economist of Industrial Bank, said that the impact of Chinese consumers on the world economy can not be ignored. "For example, milk powder, many people are keen to buy foreign milk powder, which makes the milk powder far from Europe be restricted."

He believes that foreign media attention to Chinese youth is because they want China to continue to maintain strong growth so that they will benefit.

However, Liu Yong, director of the investment and Market Research Institute of the Institute of industrial economics of the Chinese Academy of Social Sciences, believes that although the consumption desire of young white collar groups is high, it can not effectively drive consumption in China.

Because of limited income, young people's consumption is only reflected in specific areas, such as communication, catering, clothing, fashion and other personalized consumption.

Zhuang Jian, a senior economist at the Asian Development Bank, also believes that China's consumption needs more ordinary consumers. Young people will lead consumption, but it is only one aspect of consumption.

He Xuefeng, director of the China Rural Governance Research Center of Huazhong University of Science and Technology, found that the new generation of migrant workers would spend a lot of time after marriage, especially when they were thirty or forty years old. They would have a sudden psychological pformation.

He told reporters that mobile phones, ice rink and Internet cafes are one of the spiritual pillars of the new generation of migrant workers in factories with high intensity and dry labor. Their pursuit of high-end fashion consumption will not last long.

The political commissar has deep concerns about the lifestyle of the "Saviour" of the world economy in the eyes of foreign media.

He said that the current situation in China is "old people spend too much money and spend too much money".

"In the short term, young people's consumption patterns do have a temporary effect on the economy, but in the long run, they have little effect on the economy.

I am even worried that if there is no savings, the economic growth potential will not exist. China can not become an international financial market. Without savings, it will not be able to complete investment in economic growth. Although consumption is strong now, consumption and economic growth without savings are not sustainable and may even fall into recession.

Because of insufficient income and inadequate protection, many Chinese are not so easy to spend money.