www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

chinadaily.com.cn
left corner left corner
China Daily Website

No worries, the saving obsession will soon end

Updated: 2012-11-14 07:41
By Mark Hughes ( China Daily)

Domestic consumption. Two grim words that to those unfamiliar with the business pages sound like something a waif-like English lady died from prematurely in the 18th century.

The initiated know, though, that most policymakers regard them as highly relevant to China's economy. The prevailing wisdom is that the Chinese people need to boost, preferably, although not exclusively, their purchases of Chinese goods and services to better balance the books.

As everyone knows, the Chinese are great savers, spurred on by a long history of hardship.

Their nest eggs were all that kept them from an unfriendly encounter with the Grim Reaper. The Americans, on the other hand, are prolific spenders, going too far the other way, often using credit, as they bought beyond their means, contributing significantly to the 2008 global financial crisis.

As delegates gather in Beijing for the 18th National Congress of the Communist Party of China and discuss the nation's future, the subject of domestic consumption, and how to raise it, will undoubtedly come up.

Now, while I go about my daily business, I see crowded restaurants, heaving shopping malls and packed buses and subway trains in Beijing, a scene replicated in many of China's cities.

There's clearly already a lot of domestic consumption going on, certainly in urban areas.

It's worth remembering, and I am grateful to my colleagues over at Xinhua News Agency for collating the following statistics, that the Chinese are increasingly wealthy. The per capita annual disposable income of urban households soared to 19,109 yuan ($3,060) in 2011 from 2,027 yuan in 1992 while the per capita net income of rural residents rose to 5,919 yuan from 784 yuan. According to a World Bank report, China will become a middle income country by 2020. At that time its consumer worth will be spectacular.

In the meantime, development in central and western areas will bring economic growth. Manufacturers have been relocating factories from coastal China to less expensive interior provinces, thereby increasing the economic strength of those regions. The savings give them an advantage over rivals globally.

Increasing urbanization will also have a positive effect. Last year, China's urban population exceeded its rural population for the first time ever. City dwellers now account for 51.27 percent of the country's 1.347 billion people. By 2030, there will be 300 million more people living in China's cities, with 15 million to 20 million rural inhabitants moving to them every year, according to a forecast by the Organization for Economic Cooperation and Development.

These factors will encourage investment as infrastructure is improved in central and western areas. Moreover, the rising gap between rich and poor will almost certainly have to be addressed to maintain social harmony and fairness. I therefore suspect we will see more central government money being plowed back into society.

Chinese people's tendency to save was born out of necessity. In a changed world, that necessity may no longer exist.

Predicting future demographics is fraught with difficulties and is never 100 percent accurate. But trends, past policy statements and the sheer obvious are there for all of us to see.

Most Chinese happily embraced the reforms brought in by Deng Xiaoping in the late 1970s. They made many people rich and much more free.

It seems clear to this foreigner that domestic consumption will increase dramatically. It just needs time.

But there is one fly in the ointment that China's new leadership must address before it can rest easy on this issue: property prices. To mix my metaphors, those struggling on the bottom rung of the property ladder, or not even on it, must be shown a light at the end of the tunnel.

Mark Hughes is executive business editor of China Daily's Business Weekly. He can be contacted at markhughes@chinadaily.com.cn.

 
8.03K
 
...
...
...
主站蜘蛛池模板: 深夜福利网站 | 日本三级香港三级乳网址 | 一本色道久久88亚洲精品综合 | 91av成年影院在线播放 | 国产高清在线精品一区二区三区 | 欧美成人免费香蕉 | 欧美成年人网站 | 欧美另类69xxxxx视频 | 日韩a毛片免费全部播放完整 | 精品400部自拍视频在线播放 | 亚洲精品高清国产一线久久97 | 国产99久久亚洲综合精品 | 特级aaa片毛片免费观看 | 亚洲激情欧美 | 特黄女一级毛片 | 日韩精品一区二区三区四区 | 精品国产一区二区三区不卡在线 | 国产精品久久免费视频 | 亚洲成人在线播放视频 | 一色屋成人免费精品网 | 在线观看国产精成人品 | 91探花福利精品国产自产在线 | 亚洲天堂免费在线 | 国产成人精品一区 | 热热涩热热狠狠色香蕉综合 | 欧美日韩国产一区三区 | 天天黄色片 | 欧美一二三区视频 | 欧美黄成人免费网站大全 | 欧美综合自拍亚洲综合 | 欧美三级网站 | 成人午夜性a一级毛片美女 成人午夜亚洲影视在线观看 | 亚洲免费视频网 | 日韩精品一区二区三区免费视频 | 亚洲网址在线 | 最近韩国日本免费免费版 | 国产日韩欧美一区二区 | 作爱视频在线免费观看 | 欧美在线成人免费国产 | 成人看的一级毛片 | 99久久免费精品国产免费 |