Global EditionASIA 中文雙語Fran?ais
    Business
    Home / Business / Policies

    Consumption sector rides wave of growth

    By Yang Yang | chinadaily.com.cn | Updated: 2018-07-30 15:13
    Share
    Share - WeChat
    Consumers shop at a mall in Chengdu, Southwest China's Sichuan province. [Photo/VCG]

    Final consumption expenditure's contribution to economic growth reached 78.5 percent in the first half of 2018 with strong momentum in service consumption, People's Daily reported on Monday.

    "The upgrade of China's consumption structure has been accelerated. On the one hand, the growth of ungraded products in physical goods consumption has been increased fast. On the other hand, service consumption maintains relatively rapid growth," said Huang Zhilong, macro-economy research chief at the Suning Institute of Finance.

    Service consumption in sports, health and travel has shown strong momentum and the national residents' per capita expenditure on physical fitness activities, medical, hotels and transportation increased 39.3 percent, 24.6 percent, 37.8 percent and 22.8 percent, respectively, in the first half of this year.

    People have strong demand for high-quality service to enjoy comfortable life, and consumers' per capita expenditures on catering services and housekeeping services have increased 16.6 percent and 33.1 percent in January- June period.

    Meanwhile, consumers are investing more in personal care, education and training with double-digit rapid growth in expenditure on cosmetics, adult and pre-school education and training.

    Stable development in service industry demonstrated strong momentum in service consumption. In the first six months of this year, service industry production index increased 8 percent year-on-year and the growth rate of each month was over 8 percent year-on-year. The electricity consumption in service industry remained above 14 percent, indicating service industry's production and consumption still remain strong vitality.

    Strong consumption demand is also reflected by consumer confidence index. In the second quarter of this year, China's consumer confidence index was 121.3, remaining in optimistic interval for 3 consecutive quarters.

    Healthy, green and smart innovative products have become a new selling point in consumption market in the first half of 2018. Individualized products have become popular among consumers.

    A report by China Association for the promotion of trade and promotion revealed nearly 95 percent respondents showed interested in individualized products and consumers have new requirements for technological elements contained in the products and services.

    Consumption will remain the driver for China's economic growth and to make it more functional, residents' consumption demand should be stimulated, residents' revenue should maintain growth, and supply-side reform should be deepened to provide higher quality products and services, said Ren Xingzhou, research fellow at Institute for Market Economy, Development Research Center of the State Council.

    "China should pay attention to global factors and global markets to promote domestic industrial upgrading by using global products and services to satisfy diversified and high-qualified domestic demand," Huang Zhilong said.

    In terms of consumption structure, an increasing number of imported products are consumed by Chinese residents. With more measures to expand import, Chinese consumers will enjoy more diversified and cost-effective products from the globe to satisfy their demand to pursue a better life.

    The consumption situation in the second half of the year is expected to be better than the first half with boom of festival consumption and large-scale sales as well as policies promoting imports, said Zhao Ping, director of the research department at the China Council for the Promotion of International Trade.

    Top
    BACK TO THE TOP
    English
    Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
    License for publishing multimedia online 0108263

    Registration Number: 130349
    FOLLOW US
    CLOSE
     
    高清无码中文字幕在线观看视频| 亚洲.欧美.中文字幕在线观看| 日韩免费a级毛片无码a∨| 亚洲中文字幕伊人久久无码| 国产高清无码毛片| 亚洲V无码一区二区三区四区观看 亚洲爆乳精品无码一区二区三区 亚洲爆乳无码一区二区三区 | 亚洲色无码一区二区三区| 中文字幕人成人乱码亚洲电影| 色综合久久无码五十路人妻| 欧美日韩中文国产va另类| 一本一道AV无码中文字幕| 潮喷失禁大喷水aⅴ无码| 亚洲AV综合色区无码一区爱AV| 最近更新中文字幕第一页| 中文字幕亚洲精品无码 | 午夜福利av无码一区二区| 精品久久久久久无码中文野结衣| 99无码熟妇丰满人妻啪啪| 午夜福利无码不卡在线观看| 人妻AV中出无码内射| 亚洲av午夜国产精品无码中文字 | 天堂无码久久综合东京热| 蜜桃臀无码内射一区二区三区| 中文字幕AV中文字无码亚| 中文字幕无码毛片免费看| 自拍中文精品无码| 精品人妻无码专区中文字幕| 欧美中文字幕一区二区三区| 亚洲精品无码永久中文字幕| 中文无码vs无码人妻 | 国产精品无码无卡在线播放| 无码中文av有码中文a| 无码人妻一区二区三区兔费| 亚洲成A人片在线观看无码不卡| 亚洲熟妇无码乱子AV电影| 亚洲自偷自偷偷色无码中文 | 无码人妻少妇久久中文字幕蜜桃| 无码人妻精品中文字幕免费东京热 | 九九久久精品无码专区| 久久无码国产| 在线综合亚洲中文精品|