Consumption set to gradually rise

Updated: 2011-07-14 09:16

By Tang Zhihao (China Daily)

  Comments() Print Mail Large Medium  Small 分享按鈕 0

Experts say better welfare system would lead to increased spending

SHANGHAI - China's household consumption rate will rise gradually, and experts said the government should improve the welfare system to increase consumers' willingness to spend.

According to the National Bureau of Statistics, first-half retail sales reached 8.58 trillion yuan ($1.33 trillion), up 16.8 percent from last year.

Consumption set to gradually rise

Figures from JP Morgan suggest that the consumption growth rate in the first quarter accounted for 60.2 percent of gross domestic product growth, up from 47.6 percent in the fourth quarter of 2009.

"It suggests China is moving to a consumption-oriented economy, which will allow policymakers to consider more consumption-stimulating policies and welfare reform to achieve a soft landing of the economy," said Jing Ulrich, JPMorgan Chase & Co's managing director and chairman of global markets for China. "The consumption-to-GDP ratio will increase in the future."

China has long promoted an economic overhaul, seeking a balance between exports and an investment-oriented economy and a consumer-based economy that would allow it to reduce reliance on international markets.

The government spent 4 trillion yuan to boost domestic consumption in the past three years, as well as to increase investment in high-speed rail and other infrastructure construction.

The government also recently raised the personal income tax threshold to 3500 yuan from 2000 yuan to increase disposable incomes.

However, experts said the government should not be the only factor in the market working to increase consumption. Individuals should be the main factor in boosting domestic consumption.

Chen Wei, an expert from the Institute of Economics of the Shanghai Academy of Social Science, said the government should encourage individuals to spend more by improving welfare policies.

"The large population in China means there is huge potential for consumption. However, the relatively weak welfare system makes people afraid to spend. They are worried about having enough to maintain their standard of living in the event of a sudden change, such as illness," said Chen.

Chen also suggested that the government should devote more attention to manufacturers that target the overseas market.

"For a certain period, the economy will remain rely on income from exports. The financial condition of manufacturing companies will directly affect workers' welfare, and it should not be ignored," said Chen.

Chen said a blanket policy that stops people from buying property might not be good for economic growth or improving the welfare system.

"Land income is one of the main streams of income for local governments, so a tighter policy might reduce government income and affect government expenditure plans for welfare," said Chen.

"The government should continue to promote affordable housing, but for those willing to buy high-end property, it should be allowed."

主站蜘蛛池模板: 亚洲人成亚洲人成在线观看| 国产SUV精品一区二区883| 99国产精品视频久久久久| 成年人免费观看| 久久天天躁夜夜躁狠狠躁2020| 欧美免赞性视频| 亚洲精品在线网| 第37部分夫妇交换系列| 国产91最新在线| 青青青青草原国产免费| 国产精品久久久久久久网站| 91精品国产高清久久久久| 天天操天天射天天爽| 中国人xxxxx69免费视频| 日本处888xxxx| 九九精品国产99精品| 久久综合网欧美色妞网| 激情综合色五月丁香六月欧美 | 最新无码a∨在线观看| 亚洲国产成人手机在线电影bd| 永久看一二三四线| 人人爽人人爽人人片av| 男女混合的群应该取什么名字 | 进击的巨人第一季动漫樱花动漫 | 久久久久久久久久久久久久久 | 一区二区三区国产最好的精华液| 斗罗大陆动漫免费观看全集最新| 久久国产精品波多野结衣AV| 日韩欧美亚洲乱码中文字幕| 国产av无码专区亚洲a∨毛片| 久久久久亚洲av成人无码| 蜜桃成熟之蜜桃仙子| 在线观看亚洲专区| www.尤物在线| 妇女被猛烈进入在线播放| 一级毛片免费观看不卡视频| 成年人网站免费观看| 丰满上司的美乳| 无码一区二区三区| 中文字幕日本最新乱码视频| 我要c死你小荡货高h视频|