Research On Establishing A Long-term Mechanism For Expanding China’s Residents’ Consumption Growth

Investment, exports and consumption are driving economic growth of the country “threecarriages”. Since the reform and opening up, China’s economic growth mainly relies oninvestment and exports. But due to the influence of the2008financial crisis, China’seconomic growth is relatively slow, investment and exports’ role for economic growth isobviously insufficient. In order to promote the rapid and stable growth of China’s economy,we need to rely on the consumption, investment and exports coordinately instead of relying oninvestment and exports, espencially emphasizes the important role of consumption in theeconomic development. The eighteen National Congress of the CPC report made clear, weshould firmly grasp the strategic focus of expanding domestic demand, and then make theeconomic development depend more on domestic demand, especially on consumption. Weshould accelerate the establishment of a long-term mechanism for expanding consumer’sdemand, release residents’ consumption potential, and improve the consumption as thestrategic focus of expanding domestic demand.Author puts forward that China’s consumption is in overall shortage by analyzing itspresent situation and characteristics. Then, author deep analyzes the internal and externalfactors that restrict the consumption growth, and bases on the principles of adaptability andcoordination, puts forward the internal and external ways to establish a long-term mechanismto expand consumption growth. In order to ensure the long-term mechanism operatingnormally, not only need to change the bad consumption concept, to form good consumptionpsychology, but also need government to improve the income distribution system, to establisha sound social security system, to regulate the market order, to provide policy support andhelp to improve the consumption management system, to develop consumer credit, and toinnovate the commodity circulation pattern etc.Thesis’s innovations and significances are reflected: Firstly, studying thecountermeasures of China’s residents’ consumption growth from the establishment of along-term mechanism, puts forward the internal and external ways to expand consumption growth. Secondly, starting from analyzing the problem of the residents’ productiveconsumption and living consumption, studies how to coordinate the relationship between thetwo, in order to achieve the consumption growth in general. Thirdly, on the basis of analyzingthe overall situation, internal and external factors, author proposes many ways to expand theconsumption growth, then provides theoretical support and reference to the consumer’ssustainable development.