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2019 | OriginalPaper | Chapter

4. Consumption Pattern as a Turning Point from Material Consumption to Service Consumption

Author : Fulin Chi

Published in: Winning at the Turning Point

Publisher: Springer Singapore

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Abstract

As China enters the Late Industrialization, the 13th FYP period will see a major trend towards the overall and rapid growth of over 1.3 billion people’s service consumption, while the consumption pattern is upgrading from material consumption to service consumption. However, the problem is that the imbalance of investment and consumption has become a prominent structural contradiction in the current economic operation. By 2020, a new pattern of consumption-oriented economic growth will basically be formed. The key is to promote investment transformation and achieve a dynamic balance between investment and consumption.

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The data come from China Statistical Yearbook 2015, in which material consumption chiefly includes three categories of food, tobacco and alcohol, clothing, and residence. To keep the consistency of data, cash consumption expenditure per capita is adopted.

The data were taken from China Statistical Yearbook 2015. To keep the consistency of data, cash consumption expenditure per capita is adopted.

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Title: Consumption Pattern as a Turning Point from Material Consumption to Service Consumption
Author: Fulin Chi
Publisher: Springer Singapore
Book: Winning at the Turning Point
Print ISBN: 978-981-329-478-3

Electronic ISBN: 978-981-329-479-0

Copyright Year: 2019
DOI: https://doi.org/10.1007/978-981-32-9479-0_4

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