Abstract:
The low consumption rate has been a controversial problem in domestic scholars’ research and the real economic situation, but whether the consumption contribution rate which is closely related to the consumption rate, is true has not been explored by many scholars.Based on the analysis of influencing the factors of consumption contribution rate-the consumption rate and the speed factor, this paper calculates and verifies the real consumption contribution rate in China from 1995 to 2017, and concludes that there is a deviation between the true and statistical consumption contribution rate in China, which further points out that the “consumption contribution rate is underestimated”. This conclusion verifies the main engine of consumption to economic growth, supports the correctness and reliability of the relevant policies “releasing the consumption potential and promoting consumption growth”. In the new normal period with slowing economic growth and decreasing efficiency of investment and exports, releasing consumption bonuses and promoting the coordinated development of consumption, investment and exports are the great logic of China’s sustained economic development. Therefore, we should focus on improving the consumption rate and consumption growth to increase the consumption contribution rate.
