31省份消费三季报：西部发力 服务、乡村消费“上分”

Core Insights - The growth of service consumption outpaces that of goods consumption, and rural consumption growth exceeds urban consumption, indicating significant optimization in China's consumption structure [1][9][15] - In the first three quarters, final consumption expenditure contributed 53.5% to economic growth, an increase of 9 percentage points compared to the previous year [1] - The total retail sales of consumer goods reached 36,587.7 billion yuan, with a year-on-year growth of 4.5% [1] Consumption Growth by Region - Jiangsu, Guangdong, and Shandong are the only provinces with retail sales exceeding 30,000 billion yuan, with figures of 34,788.3 billion yuan, 34,254.07 billion yuan, and 30,386.1 billion yuan respectively [6][7] - Hainan leads the nation with an 8.6% growth rate, followed by Inner Mongolia at 7.2%, and several provinces in central and western China also show strong growth [4][5] Changes in Consumption Structure - The consumption structure is shifting, with significant growth in spending on daily necessities, education, culture, and entertainment services [3][9] - The "old-for-new" policy has effectively stimulated consumption, particularly in home appliances and new energy vehicles, with notable growth rates in Inner Mongolia and Shanxi [5][9] Rural vs Urban Consumption - Rural consumption growth is outpacing urban consumption, with Jiangsu's rural consumption growth exceeding urban by 1.4 percentage points, and Guizhou by 1.7 percentage points [14][15] - The shift from basic to improved consumption in rural areas is driven by the "old-for-new" policy and the enhancement of consumption infrastructure [14][16] Policy Implications - The "14th Five-Year Plan" emphasizes boosting consumption and enhancing public service spending to increase residents' consumption capacity [8][14] - Future expansion of county-level markets is expected to support rural consumption as a new growth curve for national retail sales [16]