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

  • Fulin ChiEmail author
Chapter
  • 114 Downloads
Part of the The Great Transformation of China book series (TGTC)

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.

Copyright information

© The Author(s) 2019

Authors and Affiliations

  1. 1.China Institute for Reform and DevelopmentHaikouChina

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