According to a Research Report by China International Capital Corporation, from multiple dimensions, the ratio of Chinese Consumer to GDP is relatively low. In international comparisons, the proportion of Commodity consumption in GDP in China does not deviate significantly from its stage of economic development, while the proportion of service consumption in GDP deviates more from its economic development stage. Looking ahead, there is still considerable potential for improvement in Chinese Consumer, where the potential for service consumption is greater than for Commodity consumption, especially in areas such as Medical Insurance and entertainment. The potential for Commodity consumption is more about upgrading, that is, improving quality; while the potential for service consumption may mainly focus on increasing quantity. Increasing labor compensation helps enhance consumption, but structural reforms, such as improving social security, are significant for boosting consumption.
中金公司:展望未来中国消费仍有较大提升空间
China International Capital Corporation: Looking ahead, there is still considerable room for improvement in consumer spending in China.
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