Product
Supplier
Encyclopedia
Inquiry
Home > News > Valuable News > What does China's 'Consumption Map' look like?

What does China's 'Consumption Map' look like?

ECHEMI 2019-08-05

dispatch-meeting

Data from the National Bureau of Statistics show that in the first half of this year, the per capita consumption expenditure of the whole country reached 10330 yuan, a nominal increase of 7.5% over the same period last year. The total retail sales of consumer goods nationwide reached 19.5 trillion yuan, an increase of 8.4% over the same period last year. Consumption contributed 60.1% to economic growth, and stimulated economic growth by 3.8 percentage points. Consumption remains an important driving force for stable economic growth. Recently, with the release of economic data in the first half of each province and city, a more detailed "consumption map" is presented to people: What are the characteristics of residents'consumption in different regions in the first half of the year? Where do residents spend the most money? Which province has the fastest growth in consumption? In the first half of this year, the ranking of per capita consumption expenditure of the provincial residents was basically the same as that of last year, and the amount of consumption expenditure was generally higher than that of last year. Data show that the top 9 per capita consumption expenditure in the first half of this year are Shanghai, Beijing, Tianjin, Zhejiang, Guangdong, Jiangsu, Fujian, Liaoning and Hubei, which are consistent with the first half of last year. However, the per capita consumption expenditure of nine provinces and cities increased compared with last year. Among them, Beijing's per capita consumption expenditure exceeded 20,000 yuan, Hubei's per capita consumption expenditure exceeded 10,000 yuan, Chongqing and Inner Mongolia's per capita consumption expenditure also exceeded 10,000 yuan, making the per capita consumption expenditure exceeded 10,000 yuan in the first half of this year an increase of 3 areas over the same period last year.

Consumption expenditure and income level are also consistent. Consumption expenditure is higher in areas with high per capita disposable income, and consumption capacity is improved faster in areas with fast income growth. In the first half of this year, the per capita disposable income of residents in Shanghai, Beijing, Zhejiang, Tianjin, Jiangsu, Guangdong, Fujian, Liaoning and Shandong provinces exceeded the national average. Corresponding to the income level, these provinces and municipalities with the highest per capita income also occupied the first position in the list of per capita consumption expenditure in the first half of this year.

Among the areas with the highest consumption capacity, the new consumption concept is particularly prominent. Not long ago, Ms. Lu, who lives in Tianjin, spent 1,400 yuan on a six-month fitness card in the gym opposite the company. In her opinion, this is the most significant consumption in the first half of her life. "Usually, the most time consumed is online shopping, clothing and so on. However, nowadays, people are paying more and more attention to their health and external image. Fitness cards are not only for weight loss, but also a kind of health investment to some extent. Ms. Lu said. Jiang Hongbing, a post-90s girl who lives in Beijing, said that her spending in the first half of this year was mainly on recreational activities. Watching performances, watching plays and traveling became her main consumption items. As a metal music enthusiast, Jiang Hongbing goes to see two performances per month on average, and the tickets for the performances almost become her fixed monthly expenditure. At the same time, plays and musicals are her big spenders. "I saw two performances on June 23 alone. In addition, I went to Japan and Hong Kong in March and June this year. Jiang Hongbing admits that tourism does cost a lot of money, but the spiritual enjoyment brought by these consumption makes him enjoy it. Overview of the first half of the year's "Consumption Map", the strong provinces along the southeast coast showed overall stability, and the consumption market volume was huge. At the same time, the consumption growth in the central and western regions was faster.

In terms of per capita consumption expenditure, the top 10 provinces in the first half of the year occupied half of the coastal provinces in the Middle East and South China, while the per capita consumption expenditure of Shanghai, Zhejiang, Guangdong, Jiangsu and Fujian all exceeded the national average level and ranked the top of the country. Among them, retail sales of wholesale and retail businesses in Shanghai reached 607.928 billion yuan in the first half of the year, an increase of 9.0% over the same period last year; retail sales of accommodation and catering industry reached 58.216 billion yuan, an increase of 2.9%; retail sales of consumer goods in Zhejiang Province totaled 1266.7 billion yuan in the first half of the year, an increase of 9.3% over the national average; In the first half of this year, the total retail sales of social consumer goods reached 2068.041 billion yuan, an increase of 7.7% over the same period last year, an increase of 0.8 percentage points over the first quarter.

Although the volume of consumer market in the central and western provinces is less than that in the southeastern coastal areas, the growth rate is generally faster. Among them, the total retail sales of social consumer goods in Sichuan Province increased by 10.5% in the first half of the year, 2.1 percentage points higher than the national average; the total retail sales of social consumer goods in Henan Province increased by 10.7% in the first half of the year, 2.3 percentage points higher than the national average; and the total retail sales of social consumer goods in Jiangxi Province increased by 11.2% in the first half of the year. At the national average of 2.8 percentage points. Uncle Zhao and his wife, who live in rural Henan Province, have always lived frugally. Nowadays, with the living conditions getting better and better, the consumption level of the old couple has been raised little by little. In the past, the old couple were reluctant to install air conditioning at home, and they still insisted on using fans every summer. In the first half of this year, Mr. Zhao and Mrs. Zhao bought new air conditioners under the persuasion of their children. In addition to air-conditioning, the Zhao family this year also renovated the toilet with the help of the local government, and purchased new bathroom building materials. "Although it cost a little money, the quality of life has improved and it is necessary to spend it." Uncle Zhao said. In order to further consolidate the consumption vitality, coastal provinces also frequently resort to practical measures. For example, Guangdong has promulgated the Implementing Plan of Improving the Consumption System and Mechanism in Guangdong Province. In view of the prominent problems of restricting consumption at present, it has put forward 29 specific measures in nine aspects to stabilize and improve consumption expectations, create a good consumption environment and promote the formation of a strong consumption environment.

Disclaimer: ECHEMI reserves the right of final explanation and revision for all the information.

Looking for chemical products? Let suppliers reach out to you!

Comment
Comment

Trade Alert

Delivering the latest product trends and industry news straight to your inbox.
(We'll never share your email address with a third-party.)

Scan the QR Code to Share

Feedback & Suggestions
Send Message

Thank you for your feedback. If you require further assistance, please contact us by email at info@echemi.com or call us at +86-532-55729510.