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Service Consumption Growth in China and Foreign Countries: Comparison and Policy Enlightenments (No.173, 2018)


By Liu Tao, Research Institute of Market Economy, DRC

Research Report, No.173, 2018 (Total 5448) 2018-10-17

Abstract: After entering the middle-income stage, the growth of service consumption of residents in typical economic entities such as the United States presents a series of common features. The proportion of service consumption continues to rise with per capita GDP growth. The growth of service consumption proportion is closely related to the development level of service industry. The development of comfortable and customer-friendly service consumption has become the main driving force for the adjustment of service consumption structure. Service consumption upgrading and service industry development are mutually promoted. The Middle-income group is the dominant force in the expansion and upgrading of service consumption. Considering China’s situation, service consumption and commodity consumption are jointly pushing ahead with consumption growth. Yet, it is still too early to assert that service consumption has become the leading factor of consumption growth. The service consumption proportion is lagging behind that of typical economies in terms of development stage, and accordingly the expansion and upgrading of service consumption demand are facing favorable conditions. Therefore, we need to further promote the interactive integration of service consumption and commodity consumption, strengthen the adaptive guidance tailored to service consumption development, improve the soft and hard environment relating to consumption development, and expedite the establishment of service consumption statistics system.

Key words: service consumption, international experience, judgment of the stages, policy options