Under The New Normal Consumption Contribution Rate To Achieve "Bend Overtaking"

Shen Danyang, spokesman of the Ministry of Commerce, said that the contribution rate of consumption to economic growth in the first three quarters exceeded investment for the first time since 2006. This is a good trend of development and a further optimization of structural adjustment.

He said: "in the first three quarters, the scale of online shopping in China reached 806 billion 200 million yuan, an increase of 44%. In the third quarter, the penetration rate of bank cards reached 46.3%, and the total consumption of bank cards increased by 24.3%."

CIC advisers report that the slowdown in economic growth and the exemplary role of "austerity" under the new normal economic conditions have made residents' consumption more rational. More consumption growth is supported by endogenous driving force such as the natural growth of residents' consumption and the increase of income level. This kind of consumption behavior is conducive to promoting enterprises to change the mode of growth, adjust product structure, and achieve spanformation and upgrading.

The central economic work conference held recently described the changes in the new normal from 9 aspects for the first time. The "three carriages" were first mentioned. The order is consumption, investment and export, which is exactly the same as the contribution rate of the three contribution to GDP in the first three quarters of 2014.

　　 Central economic work conference The description of consumption is quite new: the consumptive stage of imitation wave is basically over, and personalized and diversified consumption has become the mainstream. This is obviously a rebalancing of domestic demand.

Zhao Ping, director of the Department of consumer economics of the Ministry of Commerce, told reporters that when the economy is down, investment growth is slower than GDP growth, while consumption is just the opposite. When the economy is down, the effect of consumption is particularly obvious.

According to the National Bureau of statistics, the contribution rate of consumption to GDP growth reached 50% in 2013, and the contribution rate was 54.4% in the first half of 2014. At junior level consumption After meeting the basic needs, diversified and personalized consumption has stimulated a wave of new consumption upsurge in the Chinese market, such as the information consumption brought by the Internet economy.

In November 11th, the turnover of Tmall exceeded 57 billion yuan, creating a single day trading record of e-commerce platform. The executive meeting of the State Council has asked for priority to promote consumption in the six fields. First of all, it is to expand the consumption of information such as mobile Internet and Internet of things, enhance the speed of broadband, and support the development of online shopping and the distribution of rural electricity providers.

In the early November, JD.COM Liu Qiangdong, chief executive of the group, was asked by Premier Li Keqiang: "is your company's profit growth in rural areas better than that in the first half of the year?"

Liu Qiangdong answered, "3 times higher than the city." We investigated in rural areas and found that as long as more than half a year online shopping in rural areas, more than 50% of the household consumption is online, far beyond urban people.

Li Keqiang said that you are not only expanding the market, but also promoting fairness. People in the village should enjoy the same consumption service with the townspeople.

The key areas of consumption promotion by the State Council are also concentrated in the field of service consumption, namely, tourism and leisure consumption, education style consumption and pension health household consumption.

Huang Jianhui, vice president of China Development Bank Research Institute, told reporters that the absolute number of working age population has declined, and China has gradually entered the aging society. Corresponding investment, consumption proportion relations, growth rate and development mode will show corresponding changes. The state promotes consumption of old age, health and other services, which is not only in line with the requirements of the current development stage, but also conducive to the development of the service industry.