Core Viewpoint - Consumption is a key driver of economic growth and plays a crucial role in enhancing domestic circulation and meeting the aspirations of the people for a better life. Rural consumption is integral to both macroeconomic development and the well-being of residents [1][2]. Summary by Sections Rural Consumption and Economic Growth - Rural residents' consumption is linked to macroeconomic performance and the welfare of the population. Improvements in rural infrastructure and market conditions have positively impacted rural economic development and consumption [1][2]. - The rural consumption market is expanding and upgrading, but it still faces several constraints that need to be addressed to fully unleash its potential [1][2]. Changes in Consumption Demand - Rural residents' consumption needs encompass daily necessities as well as higher-quality demands in areas like health, education, and entertainment. The establishment of comprehensive logistics services and improved connectivity has facilitated modern consumption in rural areas [2][3]. - The marginal propensity to consume for rural residents is higher than that of urban residents, indicating a significant potential for growth in rural consumption [3]. Trends in Rural Consumption - In 2024, rural retail sales are expected to grow by 4.3%, outpacing urban growth by 0.9%. The share of rural retail in total social retail sales has increased to 13.7% [4]. - Demographic changes, such as aging populations and returning migrant workers, are reshaping rural consumption patterns, leading to a demand for diverse and high-quality products and services [4][5]. Supply Constraints in Rural Markets - There is a notable disparity in the quality and variety of products and services available in rural markets compared to urban areas. This gap limits the ability of rural residents to meet their consumption needs locally [5][6]. - The lack of a robust service infrastructure in areas like healthcare and elder care is a significant barrier to enhancing rural consumption [6]. Strategies for Enhancing Rural Consumption - Increasing rural residents' income is essential for boosting consumption capacity. This involves creating job opportunities and improving social security systems [7][8]. - Developing a comprehensive rural consumption market system is crucial, including enhancing logistics and retail infrastructure to ensure access to quality products and services [8]. - Addressing public service gaps in education, healthcare, and cultural services is necessary to improve the overall quality of life for rural residents [8][9]. - Expanding and enriching consumption scenarios by integrating new industries and promoting healthy consumption practices can help meet the aspirations of rural residents [9].

Core Insights - The report indicates that rural residents' consumption expenditure is growing faster than that of urban residents, driven by improved logistics and consumption policies [1] Group 1: Overall Consumption Growth - Rural residents' per capita consumption expenditure is projected to reach 19,280 yuan in 2024, with a nominal growth of 6.1% and a real growth of 5.8%, outpacing national averages by 0.8 and 0.7 percentage points respectively [1] - All categories of consumption expenditure are experiencing growth, particularly in transportation, education, culture, and entertainment, with growth rates of 9.0%, 9.9%, and 12.8% respectively [3] Group 2: Improvement in Consumption Structure - The Engel coefficient for rural residents is expected to be 32.3% in 2024, a decrease of 0.1 percentage points from the previous year, indicating an improvement in consumption structure [4] - The share of survival-type consumption (food, clothing, housing) has decreased to 57.0%, down 0.7 percentage points, while the share of development and improvement-type consumption has increased by 0.8 percentage points [4] Group 3: Service Consumption Potential - The per capita service consumption expenditure for rural residents is projected to be 7,767 yuan, an increase of 8.4%, which is 2.3 percentage points higher than the overall growth in living consumption expenditure [5][6] - The share of service consumption in total living expenditure has risen to 40.3%, up 0.9 percentage points from the previous year, with significant growth in food services (14.4%), education and cultural services (10.6%), and transportation services (12.7%) [6] Group 4: Impact of Replacement Policies - The "old for new" policy has effectively stimulated demand for durable goods, with per capita spending on transportation tools increasing by 8.5% and communication tools by 13.0% in 2024 [7] - The number of vehicles per hundred rural households has risen to 41.7, a growth of 4.1%, alongside increases in ownership of other appliances such as water heaters (9.3%) and air conditioners (5.5%) [7]