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