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    China Consumer Spending

    Last Time
    2022-12-30
    Previous Value
    450468 (CNY Hundred Million)
    Current Value
    493247 (CNY Hundred Million)
    Current release time
    2023-12-30
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    About Consumer Spending

    Consumer spending refers to spending by individuals or households on goods and services. In China, consumption expenditure is an important part of GDP and one of the important indicators to measure the consumption level of residents.


    The structural characteristics of China's consumption expenditure are as follows: On the one hand, the consumption structure of residents presents a trend of diversification and upgrading. Consumers are beginning to pay more attention to quality and services, such as high-quality food, gyms and high-end travel. On the other hand, consumer demand corresponds to price. For example, products from Chinese domestic brands are usually cheaper and consumers are more willing to buy them.


    The main items of China's consumption expenditure include food, clothing, housing, education, medical care, transportation, communication, culture and entertainment, tourism and so on. Among them, food consumption expenditure is the largest item, accounting for about 30% of the total consumption expenditure. With the improvement of living standards and the acceleration of urbanization, housing and education consumption expenditures are also getting higher and higher.


    In recent years, with the development of China's economy and the increase of residents' income, China's consumption expenditure has continued to grow. Especially driven by the national "dual circulation" strategy and the domestic demand upgrade policy, the growth rate of consumer spending has accelerated, becoming one of the important engines of economic growth. In addition, the Chinese government is also actively promoting the growth of consumer spending, such as expanding consumer coupons and subsidies.


    In short, consumption expenditure is an important indicator to measure the consumption level of residents and the development of the national economy. In China, with the development of the economy and the upgrading of consumer demand, the structure and scale of consumer spending are also constantly changing. Growth in consumer spending will play an important role in promoting economic growth and achieving national economic goals.

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