老百姓为何不敢花钱了？专家不敢说的3个真相，每一个都扎心！

Core Insights - The decline in bank deposit interest rates has not stimulated consumer spending as intended, leading to increased household savings and a sluggish consumption market [1][4][6] - Rising living costs, including education, healthcare, and housing, are outpacing income growth, creating financial strain on households [4][6][9] - The high debt burden, particularly among younger generations, is constraining consumer spending and contributing to a cycle of financial insecurity [6][7][9] Economic Conditions - The median disposable income for residents in 2024 is projected at 41,000 yuan, translating to an average monthly income of less than 3,600 yuan, which is insufficient to cover basic living expenses in major cities [1] - Over the past decade, average wage growth has been 8% annually, while medical expenses have risen by 11%, education costs by 9%, and housing prices have significantly increased in certain cities [1][4] Consumer Behavior - Many consumers are adopting a "preventive savings" mentality, leading to increased bank deposits despite lower interest rates, with a reported increase of 9.8 trillion yuan in household deposits in the first half of 2025 [6][9] - The average household debt balance is expected to exceed 80 trillion yuan, with over 70% attributed to housing loans, indicating that 40% of income is allocated to debt repayment [6][9] Debt and Financing Challenges - Small and medium-sized enterprises face high financing costs, with interest rates 3 percentage points higher than those for large corporations, which stifles investment and wage growth [4][9] - The prevalence of high-interest consumer loans has led to a cycle of debt for many, particularly students, exacerbating financial difficulties and reducing consumption willingness [9] Policy Recommendations - To stimulate consumption, it is essential to increase income through higher minimum wage standards and expanded social security coverage [9] - Reducing the costs of education, healthcare, and elder care is crucial to releasing suppressed consumer demand [9] - Optimizing debt structures by controlling consumer loan interest rates and promoting housing loan conversions to public fund loans can alleviate household debt pressure [9]