With the sustainable development of the economy and the improvement of people's living standards, consumption should have become an important driving force for economic growth. However, in recent years, it is not difficult to find a phenomenon. Although people's income levels are continuously improved, the willingness and consumption capacity of consumption have not increased simultaneously, and ordinary people seem to be more and more unwilling to consume.
1. The phenomenon of ordinary people is rich but unwilling to consume
According to the recent statistics and analysis, the following points can be summarized to prove that the people are now rich but unwilling to consume:
- The deposit balance increases rapidly
According to the "Financial Statistics Report in April 2024" issued by the central bank, although the balance of RMB deposits at the end of April decreased by nearly 4 trillion yuan due to seasonal factors, the overall trend showed that the deposit balance continued to grow.
In the past 8 years, the scale of residents' deposits has increased from 59.8 trillion yuan in 2016 to 137 trillion yuan in 2023, an increase of doubled.
- The willingness to save
The growth rate of residents 'deposits increased from 9.5%in 2016 to 13.8%in 2023, showing that residents' willingness to save was rising.
From the third quarter of 2022 to the third quarter of 2023, the growth rate was higher than 13.8%of the year in 2023, indicating that the growth trend of savings was strong.
- Care expectations are cautious
The results of China's consumption trend survey in 2024 showed that consumers' expectations for their own consumption growth are relatively cautious, with an expected growth rate of 2.2%-2.4%.
The proportion of consumption in household disposable income has dropped by 0.2 percentage points, and consumer savings are still strong, and the consumption potential in the short term has not been fully released.
- Increase does not match the growth of consumption
Although the per capita disposable income of residents is growing, the growth of consumer expenditure has not been synchronized. For example, in the first quarter of 2024, the per capita disposable income of residents across the country increased by 6.2%year -on -year, while per capita consumption expenditure increased by 8.3%year -on -year. Although consumer expenditure growth was slightly higher than income, the growth of savings balance increased faster.
- Middle income group consumption attitude
Although the scale of middle -income groups is huge, as pointed out by Bai Yansong, they may reduce the consumption of non -essential consumption because their income is mainly used to meet basic living needs and respond to future risks (such as education, medical care, etc.).
In summary, the increase in deposit balances, rising savings willingness, cautious consumption expectations, income and consumption growth, deposit structure bias to individuals, liabilities affect consumption, and consumer attitude of middle -income groups. But unwilling to consume.
2. Some reasons why ordinary people have money but do not consume
1. Conservative consumption habits
Chinese people generally have conservative consumption habits, and they tend to use most of their income for savings instead of consumption. This habit may stem from cultural traditions and social education, emphasizing the principles of "prepare and no presence" and "quantitative". Therefore, even if the income increases, they may choose to deposit more money into the bank instead of consumption.
2. Worry about the future uncertainty
People are generally worried about future uncertainty, such as unemployment, disease, pension and other risks. In the case where the social security system is not yet perfect, they tend to use funds for savings to cope with possible risks. This concern makes them dare not consume easily even if they have money.
The following is some statistics, which can prove that the people's uncertainty about the future is unwilling to consume:
(1) Rising unemployment rate :
For example, data from the National Bureau of Statistics show that in April 2024, the national town nationwide was not included in school students, the unemployment rate of the 16-24 -year -old labor force was 14.7%, which was significantly increased from the data in the same period of the previous year. The high unemployment rate reflects the increase in economic uncertainty, making consumers worry about future employment prospects and income stability, and therefore reduces non -necessary consumption.
(2) Consumer confidence index decreases :
Although the specific consumer confidence index data may need to be cited according to the latest survey or report, the consumer confidence index will decline when economic uncertainty increases. The decline in the consumer confidence index reflects consumers' concerns about future economic prospects, which usually causes them to reduce consumption to cope with potential economic risks.
(3) House price pressure:
In recent years, housing prices in some cities in my country have continued to high, especially first -tier cities and some hot second -tier cities. High housing prices have made many families bear huge economic pressure on their purchases, causing them to compress other aspects of consumption. For many families, housing expenditure occupies most of their disposable income. In this case, even if household income has increased, the housing rental expenditure will increase accordingly due to the rise in house prices, thereby restricting other consumption. Many families carry heavy loan pressure because they buy a house. The high mortgage made their monthly repayment volume relatively large, further compressing their consumption space.
(4) Education expenditure pressure
Education costs are increasing. From kindergarten to university, the education costs at all stages are rising, bringing a heavy economic burden to the family. Although the government has been working hard to promote fair education, the unevenness of educational resources still exists. Some high -quality educational resources are often concentrated in a few areas and schools, resulting in more money and energy of parents to fight for better educational resources for their children. For many families, education costs are an important part of their family expenditure. High education costs have restricted their consumption in other aspects.
According to the "2019 New Middle School Family Consumption and Financial Report" jointly released by Tencent Wealth Management and the 21st Century Economic Research Institute, 55 % of new middle-class family children's education expenditure accounts for between 10 % -30 %, 9.9 % of the total expenditure, 9.9 % Family children's education expenditure accounts for more than 50 % of the total expenditure.
The 2024 version of China ’s fertility cost data is released. From the age of 0 to graduating from undergraduate, the average cost of raising for parents is about 680,312 yuan. This includes children's educational expenditure, especially educational costs before higher education.
8. Medical expenditure pressure:
Although my country has established a medical insurance system, some people still have not been included in the scope of medical insurance or the proportion of medical insurance reimbursement. When facing high medical expenses, these people often need to pay their own pockets, which makes some families have to compress other aspects of consumption when facing high medical expenses.
- Growth of medical expenditures
According to the data and consumption expenditure data in the first quarter of 2024 issued by the National Bureau of Statistics, per capita health care consumption expenditure was 629 yuan, an increase of 3.9%over the same period last year. Although this growth rate is relatively low, considering that the base of medical care expenditures is large, the actual growth amount is still significant. In the per capita consumption expenditure of the same period, medical care consumption expenditure accounted for 8.6%. This ratio is at a high level compared to other consumer categories (such as food tobacco, alcohol, clothing, etc.), showing the importance of medical expenditures in family life.
Due to the common role of population aging, medical technology progress, and improvement of residents' awareness of health, compared with 2021, specific data, the proportion of medical care consumption expenditures in the first quarter of 2024 increased from 8.1%to 8.6%, showing that medical expenditure was shown to show medical expenditure. The proportion of family expenditures has increased steadily.
Although my country has established a medical insurance system, the reimbursement ratio of medical insurance is still limited. Many high medical expenses require the family to bear itself, which further increases the family's medical expenditure pressure. High medical expenses have caused economic pressure on certain families, limiting the family's consumption capacity in other aspects, thereby affecting the overall consumption level.
In summary, the reason for the people to have money and not consumption is multi -faceted, including conservative consumption habits, uncertain concerns about the future, high savings and low consumption confidence, incomplete social security system, house prices and education, medical treatment Expenditure pressure, etc. In order to solve this problem, it is necessary to improve the social security system, improve the consumption confidence of the people, and promote the stable growth of the economy and the increase in employment. In short, the common efforts of solving people's unwillingness to consume require the common efforts of the whole society. Only through various cooperations and efforts of government, enterprises, financial institutions, and media can people's consumption potential can be stimulated and the consumption potential of the people can promote the sustainable development of the economy.
This is exactly:
The economy is heavy, Pepsi worry,
The savings are Baochay Pet.
Education and medical care like mountains,
How dare to consume the trend.