An Empirical Research Of Children's Influence On The Household Consumption Structure In China

The 2013 Central Economical Work Conference set the expansion of domestic demand as one of the keynotes to strengthen the role of consumption in driving economic growth. In recent years, the State has also repeatedly referred to expanding domestic demand and increasing consumption as the policies to foster economic growth. The export has declined than in previous years, and even though the social consumption and domestic investment has both increased in this year, the growth rate of social consumption is lower than that of domestic investment.Review of previous data, from 1981 to 2014, China's investment rate had rised from 32.9% to 46.1%, while household consumption rate had dropped from 53.4% to 37.7%. Domestic investment and consumption was in a state of serious imbalance, which led to overcapacity and other issues. In order to solve these issues, it is supposed to start from the fundamental, namely, expanding domestic demand.On how to expand domestic demand, the Central Economic Conference has pointed out that the increase in household consumption is the focus. From a theoretical point of view, the specific content of the consumption demand can mainly be reflected in the consumption structure. In order to increase the resident consumption, we must start from the study of residents' consumption structure, and only if we comprehend the trend and the law of the change of household consumption structure and grasp the focus and developing direction of consumer demand, can we provide a good policy environment for consumers to lead them to reasonably expand consumption, promote the coordination between industrial structure and consumption structure, and boost a stable and healthy development of national economy. Therefore, that studying family consumption structure is helpful to the implementation of the policy of expanding domestic demand.At present, the research literature about family consumption structure is mainly analyzed from the aspects of income, price, assets, population structure, social security and other factors. There are only a few research which are focused on children's influence on family consumption structure, but the subjects are all one-child families, little related to the two child family. With the change of Planned Birth Policy-the full liberalization of the two-child policy, more and more couples will have second child, that is, two-child families will also increase. As an important part of family consumption structure, children will definitely influence a family's consumption.Accordingly, the study of children's influence on family consumption structure is of certain theoretical and practical significance. This paper is to study the influence of financial assets on household consumption structure. And according to this, the paper will put forward a few strategies for optimization of the structure of household consumption.The paper first introduces the development of current consumption theory. According to the scholar of our country Bi Fuqian's research about consumption theory, the consumption theory is elaborated in different stages. Meanwhile, based on related articles, the paper further elaborates the current state of domestic and foreign scholars' study on the consumption structure of research from the aspect of income, price, assets, population structure, social security and etc. Those researches have laid a theoretical foundation and practical reference. However, of the current literature in the analysis of the consumption structure, most only studies on the effects of different factors on the total consumption, but little studies on different consumer spending; in existing on consumption structure research, is also the study of income and price factors influence on the consumption structure. According to the National Bureau of statistics on household consumption classification criteria, this paper will be divided into 9 types of consumption in detail. In the empirical analysis, firstly, it discusses the influence of the number of children in a family on family consumption structure, and according to the empirical results, it concludes that the growth in the number of children have a certain influence on promoting the consumption of most species of family. Secondly, according to the number of children in one family, the family types consist of no child family, one-child families, two-child families. And the paper respectively discusses the influence of children's gender, age on household consumption structure. On the study of children's gender's influence on the structure of household consumption, in one-child families boy"s assigned to 1, girl assigned to 0, and in the two-child families, the children are divided four kinds of gender combination, respectively for boys boys, boys and girls, boys and girls, girl, which boy combination assigning 0 and the rest of the compound assignment 1.Based on the result of this analysis, in the different types of families, income is the key factor affecting the consumption structure. Income in general has a relatively noticeable impact on all kinds of consumption, and the higher income,the more consumer spending. Although most families in China still think that there is a patriarchal thought. But according to the empirical results, in families with children, the majority of consumer influence the gender of the child of the family is not significant. In the one-child family, the child's gender has no significant effect for all kinds of consumer basically, and the reason may be that one-child families, whether boy or girl, are families' "only hope", and there is no significant difference in the allocation of resources; and in two-child in family, the gender of children affects only some consumption types, but the cases are different:in a boy and a girl families or two-girl families, the gender effect on education and training cost is usually more obvious than two-boy family, and the greatest impact is the combination of boys and girls, boys and girls are combined at the same time on the total consumption and food consumption is significant positive impact, female Children's combination of cultural and entertainment consumption for a significant negative impact. The age of the children in different family types is more consistent with the consumption expenditure of education and training, and the educational expenditure increases with the increase of the age.Through comparative analysis of the consumption structure in different types of family, this paper concludes that there is a great difference between families with children and families without children in the family consumption structure. What's more, the consumption structure of those three types of families is very different from the urban residents consumption structure according to the statistics data given by the National Bureau. With the study of influence of financial assets on consumption structure in the different types of families, this paper shows that risk assets have a significant positive effect on various types of consumption and effectively promote the consumer spending, usually more effect on the families with lessconsumer spending. Therefore, rational allocation of family financial assets has a certain practical significance to the optimization of the structure of household consumption.