BEIJING, Jan. 21 (Xinhua) On social concerns about the downgrading of consumption, Ning Jizhao, director of the National Bureau of Statistics, said on Jan. 21 that consumption contributed more to economic growth in 2018 than last year. Generally speaking, with the improvement of peoples income level, the consumption structure has been upgraded in general.
Data Map: Consumers buy goods in supermarkets. Photographed by China News Agency reporter Yu Haiyang
The Information Office of the State Council held a press conference today. Ning Jitao, Director of the National Bureau of Statistics, introduced the operation of the national economy in 2018 and answered reportersquestions.
Ningji Zhe said that consumption contributed more to economic growth in 2018 than last year. The whole year is slightly lower than the first three quarters, which is not enough to explain the qualitative change. Generally speaking, with the improvement of peoples income level, the consumption structure has been upgraded in general.
He pointed out that, according to Engels coefficient, which is an international indicator, the non-physical expenditure of residentsconsumption has been on the rise in general. Moreover, household income and expenditure data are obtained through household surveys. Household surveys are now carrying out electronic accounting. About 60% of the surveyed households across the country have used electronic accounting. This method is also internationally comparable.
Ningji says that another important trend is the development of high-quality commodity consumption. Goods with good quality and low price are selling well, but goods with high quality and high price are beginning to enter more middle and high income families.
Ningji Zhe said that as far as the index of total retail sales of social consumer goods is concerned, service consumption such as tourism, culture and health has not been included. Despite this, the growth rate is still 9% in 2018, which is not low. To conform to the trend of consumption upgrading to improve production structure, to coordinate with industrial restructuring, investment structure should also be adjusted. To invest for consumption and improve consumption infrastructure, a lot of hard and meticulous work should be done so as to better play the basic role of consumption dividend and consumption in economic development.