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Promote the Steady Consumption Growth with More Targeted Support Measures (No.263, 2021)


By Feng Wenmeng & Ge Yanfeng, Research Department of Social Development, DRC; Gan Li & He Qing, Southwestern University of Finance and Economics

Research Report, No.263, 2021 (Total 6328) 2021-9-14

Abstract: The tracking survey conducted by the Research Department of Social Development of DRC and Southwestern University of Finance and Economics showed that the China’s household consumption has turned into positive increase since the beginning of 2021, However, the growth expectation may not be very satisfying. Among households at different income levels, the low-income families would take more time to get back to the previous consumption level. Except for the income decrease, the factor of pandemic control and prevention also has exerted important impacts on household consumption. In the perspective of consumption categories such as catering services, offline shopping and cultural recreation, tourism, automobile purchase, household electrical appliances and home furniture demand, people have different expectations for the measures to encourage consumption. In a bid to further promote the growth of household consumption, measures need to be taken on steadying residents’ income, enhancing precise and targeted support measures and promoting pandemic control and prevention in a scientific manner.

Keywords: household consumption, tracking survey, impact of the pandemic