Chinese People Cling To Their Purses! Has Become An International Event.

Chinese people have tightened their purse strings and become "international events".

The Chinese people have tightened their purse strings and become "international events". As the "China factor" is growing day by day, residents' consumption is not only depressed by the Chinese government, but also makes many foreign people anxious. Some foreign media have even issued "the Chinese consumers have failed to live up to the hope of the world".

Why do I say this?

The logic given by reporters is: the high level of Beijing envisages that expanding consumer demand can become the main engine of China's economic development; politicians in Washington believe that as long as Chinese consumers spend more money and save less, the bilateral trade balance between China and the United States will disappear; business leaders from the European continent hope that the emergence of hundreds of millions of Chinese middle class people will bring a lucrative new luxury to Europe.

China's consumption rate plummeted

This is indeed the case.

From 2001 to 2009, China's consumption rate dropped from 61.4% straight to 48%, of which the consumption rate of residents dropped from 45.3% to 35.1%, which was "eye-catching".

According to World Bank statistics, the consumption rate of residents is 75% in low-income countries, 57.5% in middle-income countries, and 61.5% in the world. The gap between China and this is very obvious.

In terms of consumer confidence index that can better reflect the demand situation, the foreign media feel more cool.

It is still noted by reporters that "China's latest consumer confidence survey shows that consumer confidence index continues to fall, which dropped to 99.9 in January this year.

In the long run, this is the lowest level recorded since the financial crisis in 2009, SARS in 2003 and the Asian financial crisis in 1998.

Ordinary people can not afford to spend money.

Why does China's economy keep growing at a high speed for years, while consumption is "raging away"?

Of course, many of the constraints are: the middle class is too tired to breathe.

The sluggish consumption has affected the improvement of the quality of life, people can not enjoy the fruits of economic development, and it is also unfavorable to speed up the adjustment of the economic structure.

Moreover, the world responsibility has also been derived. "No matter what the reason is, Chinese consumers do not consume as much as they want, which makes it difficult for many other parts of the world to realize their economic dreams."

There is only one trick.

Consumption must really become the driving force to expand domestic demand and economic development. How can we live up to the "hope of the world on the great Chinese consumers"?

In fact, there is only one "clever plan": the government has put forward more solid measures in protecting people's livelihood, at the same time adjusting the income gap, so that people do not have to worry about spending money.

This year's "two sessions" passed the budget report, large scale livelihood accounts amounted to 1 trillion and 50 billion 992 million yuan, it can be said to boost consumption has laid a good foundation.

The average annual income of residents increased by more than 7%, the minimum wage increased by 13% annually, and the coverage of urban affordable housing reached 20%.

Many figures flashing in the 12th Five-Year plan will make the improvement of people's livelihood a sustainable landscape.

I hope more and more Chinese people's consumption will revive and bring the "Butterfly Effect" of world consumption.