Analysis Of The Basic Pension’s Merge On Chinese Urban Residents’ Consumption

In the process of China’s macroeconomic operation, as a final demand, consumer demand is one of the most important factor to restrict economic growth, is the leading force of economic growth. Our country in recent years the increasingly serious long-term,insufficient consumer demand is in the process of economic health development and consumer demand in China, after a series of reform measures is still not improved significantly, the consumer spending as a share of GDP is still lower than the world average. Can improve the residents’ consumption this short board, can decide the future of our country economy is the key to achieve sustainable growth. Basic endowment insurance as a safeguard livelihood of the people’s basic system, is the main source of income, after the worker is retired and on-the-job worker need to deducted from disposable income of a capture to expend content, changes in its system design and will inevitably affect the income level of urban residents, income channels and for the whole life cycle of long-term income expectations, thereby further affect the residents’ consumption. In December 2014, the old-age insurance system in government institutions reform plan approved by the executive meeting of the state council and the central political bureau standing committee review. The reform not only means that the authority institution endowment insurance system reform from system design to break the ice, and more as mentioned above, may be affected by factors such as consumer income, expectations and income gap. The analysis of the effect of the reform of residents’ consumption path and the influence level, to improve and perfect the basic old-age insurance mechanism, keep the economy stable healthy development, has a positive reference significance.This article mainly divides into four parts, the first part of this paper seeked topic background, the research’s purpose and meaning, the review of the papers all around the world, and briefly summarize the method that complete the research, also point out the research’s main innovation points and shortcomings. The second part defines the basic concept of endowment insurance and consumption, the basic endowment insurance is the mechanism of action of impact on the residents’ consumption. The third part mainly introduces the pension system specific implementation policy, including the reform background, involving personnel, payment method and details such as the combing and analysis of plan hair method. The fourth part based on the above theoretical analysis, established the China urban residents’ consumption level and the quantitative relation model between influence factors. Calculate the pension system in the second quarter estimates obtained for these factors and axle will be the extent to which affect the level of consumption. The fifth part of the main content is to discuss about further perfecting the pension system policy to reduce its impact on urban residents consumption level and further lift town residents’ consumption level.