Comprehensive Evaluation Of The Consumption Structure Of Urban Residents In China Under The Background Of New Normal Economy

With the reform of market economy in China deepening step by step,the problem of economic growth excessively dependent on investment and export has become more and more prominent.After 2000 among the three carriages in stimulating economic growth,the contribution of consumption to GDP growth rate has been at a low level.At 2014 China’s economy welcome into the new normal economy.Under this context the weak consumption has seriously restricting China’s economic growth.China is facing how to expand domestic demand.The 17 National Congress of the Communist Party of China clearly pointed out:to promote economic growth by relying mainly on investment,export turn to rely on the coordination of consumption,investment and export.Government of China have put boosting consumption to a strategic level.The party and the government will focus on how to guide the rational consumption and how to tap the potential consumption of urban residents.Although the urban residents consumption market has great potential of development and the government attached great importance to increase the income level of urban residents,however,the reality is not satisfactory.The problem of insufficient consumption of urban residents,has seriously affected the CPC Central Committee and the State Council to expand domestic demand,therefore,we must carry out a serious research on the insufficient consumption level of urban residents.This paper adopts the method of normative analysis and empirical analysis.First of all,introduce the background of the new normal economy of China.And elaborated the domestic and foreign related theories about resident consumption.Then it introduced the basic content of consumption structure and China’s economy under the new normal consumption problems and research significance.It is believed that besides the income level,the integrity of social security system,the insufficientsupply also impact the consumption behavior of urban residents.In this paper,we use time series analysis,choose and use EViews6.0 software to analyze the data of per capita consumption and per capita GDP of urban residents in China from 2001 to 2015.On the basis of the above analysis,using cross-sectional data,selected 8 indicators of consumption structure of urban residents in 2014 and 2015 in 31 areas of the country,analyzed by factor analysis,obtained 3 principal components.The first one is necessary to life and enjoy the development factors,the second one is health and dress factors,the last one is living consumption factors.Then,we get the score formula of the consumption structure of urban residents in these two years,we ranked and compared the comprehensive score of 2014 and 2015 in 31 areas of the country.It is concluded that the developed regions in the east has entered the new normal economy,the expansion rate of consumption has slowed.While the Midwest is now entering the new normal economy,the consumption growth is still keep strong.Different regions vary largely on the 3 factors of consumption.Finally,this paper put forward some policies to stimulate domestic consumption,including the improvement of the social security system,speed up the supply side structural reform and the implementation of the policy according to the area.