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: 在线国产区 | 国产成人教育视频在线观看 | 国产美女拍拍拍在线观看 | 精品国产品国语在线不卡丶 | 国产日韩欧美综合一区二区三区 | 精品国产一区二区二三区在线观看 | 自拍视频啪 | 欧美成人高清手机在线视频 | 国产婷婷一区二区三区 | 999成人国产精品 | 美女黄视频免费观看 | 国产三级一区二区 | 玖草视频在线 | 国产成人免费手机在线观看视频 | 一区二区精品在线 | 美女亚洲视频 | 国产成人久久777777 | 99爱在线精品视频网站 | 久久最新免费视频 | 日本特黄特色高清免费视频 | 91欧美精品综合在线观看 | 精品一区二区三区免费观看 | 国产欧美日韩精品高清二区综合区 | 久久中文字幕免费视频 | 久久成人免费大片 | 免费逼片 | 久草在线观看首页 | 高清欧美不卡一区二区三区 | 国产精品a人片在线观看 | 久草在线青青草 | 九九视频在线观看 | 亚洲国产一区二区三区最新 | 美女毛片大全 | 欧美视频一区二区三区在线观看 | 高清国产一级精品毛片基地 | 国产精品无打码在线播放9久 | 一级做a爰片久久毛片免费看 | 国产免费午夜a无码v视频 | 久久精品亚瑟全部免费观看 | 高清午夜看片a福利在线观看琪琪 | 国产成人女人视频在线观看 |